Document:

Employment Agreement

 Exhibit 10.9 
 June 30, 2011 
 Michael Keane 

 

	Re:	Executive Vice President and Chief Financial Officer Agreement with Genomatica, Inc. 

 

	Dear	Mike, 

 Genomatica, Inc. (the
“Company”) is pleased to offer you the position of Executive Vice President and Chief Financial Officer pursuant to the terms of this letter agreement (this “Agreement”). This Agreement is made and entered into as
of the last day either party executes this Agreement. Should you accept this offer, your start date shall be no later than August 22, 2011 (the “Effective Date”). This offer will expire on July 11, 2011. You and the
Company hereby agree as follows: 
 1. Employment. 
 1.1 Title and Duties. You shall have the title of Executive Vice President and Chief Financial Officer of the Company (“CFO”). In your capacity as CFO you shall have the
responsibilities typically required of a CFO, as well as any other services, acts and things as may be required from time to time by the Company. You will report to the Chief Executive Officer of the Company (“CEO”). 

1.2 Location. Your principal place of employment shall be the Company’s facility in San Diego, California, provided that the
Company may from time to time require you to travel to other locations in connection with the Company’s business. 
 1.3
Policies and Practices. Your employment shall be governed by this Agreement and by the policies and practices established by the Company and the Board. In the event that the terms of this Agreement differ from or are in conflict with the
Company’s policies or practices or the Company’s Employee Handbook, this Agreement shall control. 
 1.4 Employment
At Will. Your employment with the Company is “at will.” This means that either you or the Company may terminate the employment relationship at any time and for any reason or no reason, with or without cause or prior notice. 

2. Compensation. 

2.1 Base Salary. You shall receive a base salary of three hundred twenty-five thousand dollars ($325,000) per year, effective as
of the Effective Date and less any required withholdings and deductions (the “Base Salary”). Such Base Salary shall be prorated for any partial year of employment on the basis of a 365-day fiscal year. You will receive your Base
Salary incrementally in semi-monthly payments on the Company’s regular payroll dates. 

  
 1. 

 2.2 Discretionary Bonus. In addition to the Base Salary, during each fiscal year of
employment with the Company, you also will be eligible to receive an annual discretionary bonus of up to forty percent (40%) of your then-current base salary based on your performance, as determined by the Board in its sole discretion, against
fundamental corporate and individual objectives to be determined by the Board after consultation with you. It is anticipated that thirty percent (30%) of this bonus will be against individual objectives and seventy percent (70%) be against
fundamental corporate objectives pursued collectively by the executive management team. In addition to this discretionary bonus you are also eligible to receive a stretch bonus of up to 20% of your then-current base salary based on the attainment of
corporate objectives that are deemed to lead to additional revenue generated beyond targeted plans as agreed upon on an annual basis by the Board. The Board shall have the sole discretion to determine the amount of the bonus, if any, for a given
year. You must be employed on the date any bonus is awarded to be eligible for the bonus. Bonus amounts may be pro-rated for partial year service as determined by the Board in its sole discretion. 

2.3 Benefits. You are eligible for twenty (20) days of paid time off, as well as holidays in accordance with Company policy.
You are also eligible to participate in the Company’s employee benefits plans, including health and dental insurance plans, subject to Company policy and the terms and conditions of the applicable plans. 

2.4 Changes to Compensation and Benefits. Your compensation and benefits (exclusive of the Company’s obligations under
Section 4), including your Base Salary, are subject to annual review by the Compensation Committee of the Board and may be changed from time to time in the Company’s discretion. 

2.5 Signing Bonus. Upon commencement of employment pursuant to this Agreement you will receive a one-time signing bonus of fifty
thousand dollars ($50,000) (the “Signing Bonus”), less any required withholdings and deductions, payable on the Company’s first regularly-scheduled payroll date following such commencement of employment. In the event that you
voluntarily terminate your employment with the Company within twelve (12) months of the Effective Date, other than a resignation for Good Reason pursuant to Section 4.7(c) hereof, you shall re-pay to the Company one hundred percent
(100%) of the Signing Bonus. 
 2.6 Relocation Assistance. The Company will pay for your move of your household
goods to San Diego, up to a maximum aggregate amount of thirty thousand dollars ($30,000), provided that you shall use the vendors supplied by the Company and follow the Company’s standard relocation policies and practices relating to the
movement of household goods (the “Moving Expenses”). Additionally, the Company shall provide you with the following: i) temporary housing in the San Diego area until you purchase or lease a residence in San Diego, for a period of
time up to a maximum of six (6) months following the Effective Date; and ii) reimbursement for expenses incurred by you in connection with the sale of your current residence (such as brokerage fees and closing costs), and reasonable expenses
incurred by you and your wife in searching for and purchasing a residence in the San Diego area, up to a maximum aggregate amount of one hundred twenty five thousand dollars ($125,000) (the “Relocation Expenses”). The Company shall
pay additional compensation to you in the amounts necessary to reimburse you, on an after-tax basis, for the additional income and employment 

  
 2. 

 
taxes incurred by you as a result of the Company’s providing to you the Moving Expenses and Relocation Expenses. In the event that you voluntarily terminate your employment with the Company
within twelve (12) months of the Effective Date, other than a resignation for Good Reason pursuant to Section 4.7(c) hereof, you shall repay to the Company one hundred percent (100%) of the Moving Expenses, the Relocation Expenses,
and any tax gross-up amounts paid to you. Likewise, you shall not submit any claim for or be paid Moving Expenses or Relocation Expenses after your employment has terminated. 

3. Stock Options. You shall be granted an option (the “Option”) to purchase one million
(1,000,000) shares of the common stock of the Company pursuant to the terms of the Company’s 2008 Equity Incentive Plan (the “Plan”). To the maximum extent possible, the Option shall be an “incentive stock
option” as such term is defined in Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”). The Option will be governed by a separate Stock Option Agreement and the Plan. The exercise price of the Option
will be equal to the fair market value of the common stock of the Company on the date of the grant, as determined by the Board in a manner consistent with Section 409A of the Code. Except as provided in Section 4.4 below, one-half of the
total number of shares subject to the Option (500,000 shares) (the “Time-Based Shares”) will vest and become exercisable over four years so long as you provide Continuous Service (as defined in the Plan) to the Company in accordance
with the Plan, according to the following schedule: 25% of the Time-Based Shares subject to the Option shall vest and become exercisable on the one-year anniversary of the Effective Date and l/48th of the Time-Based Shares subject to the Option shall vest and become
exercisable at the end of each monthly period thereafter for a period of three years. Except as provided in Section 4.4 below, and subject to your Continuous Service to the Company, the remaining 500,000 shares subject to the Option (the
“Performance-Based Shares”) will vest and become exercisable upon the achievement of performance objectives to be established by the Board. 
 4. Termination. 
 4.1 Termination for Death or Complete Disability.
Your employment with the Company shall automatically terminate effective upon the date of your death or Complete Disability. In the event of a termination for death or Complete Disability, the Company shall pay to you or to your estate all base
salary, accrued and unused vacation benefits, any accrued bonuses determined by the Board to have been earned by you in accordance with Section 2.2 and any other accrued benefits, in each case as earned through the date of termination, and any
unreimbursed expenses incurred in accordance with Company policy, at the rates in effect at the time of termination, less standard deductions and withholdings. The Company shall thereafter have no further obligations to you, your estate, or your
heirs under this Agreement, except as otherwise provided by law. 
 4.2 Termination for Cause or Resignation Without Good
Reason. If your employment is terminated by the Company for Cause, or if you voluntarily resign your employment without Good Reason (as defined below), the Company shall pay you all base salary, accrued and unused vacation benefits and any
accrued bonuses determined by the Board to have been earned by you in accordance with Section 2.2 and any other accrued benefits, in each case as earned through the date of termination, and any unreimbursed expenses incurred in accordance with
Company policy, at the rates in effect at the time of termination, less standard 

  
 3. 

 
deductions and withholdings. The Company shall thereafter have no further obligations to you under this Agreement. 
 4.3 Termination Without Cause or Resignation For Good Reason Not in Connection with a Change in Control. If, at any time other than within the three months immediately preceding or the 12 months
immediately following the effective date of a Change in Control (as defined below), your employment terminates due to an involuntary termination (not including death or Complete Disability) without Cause, or due to your voluntary resignation for
Good Reason, the Company shall pay you all base salary, accrued and unused vacation benefits and any accrued bonuses determined by the Board to have been earned by you in accordance with Section 2.2 and any other accrued benefits, in each case
as earned through the date of termination, and any unreimbursed expenses incurred in accordance with Company policy, at the rates in effect at the time of termination, less standard deductions and withholdings. In addition, upon your furnishing to
the Company an effective waiver and release of claims substantially similar to the form attached hereto as Exhibit A (the “Release and Waiver”) within the time frame set forth therein, but in no event later than 45 days
following your termination date, you shall be entitled to: (1) a single lump-sum payment in an amount equal to twelve (12) months of your then-current base salary, subject to standard payroll deductions and withholdings, payable within 10
business days of the date the Release and Waiver becomes effective; (2) a lump sum payment equal to your then-current target bonus, subject to standard payroll deductions and withholdings, payable within thirty (30) days of the date the
Release and Waiver becomes effective; and (3) provided that you timely elect such coverage, the continuation of your group health continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1986 (“COBRA”)
at the Company’s expense for a period of twelve (12) months following the termination date; provided, however, that in the event you become eligible for comparable group insurance coverage in connection with new employment,
such COBRA premium payments by the Company shall terminate immediately (collectively, the “Severance Benefits”). Additionally, if such involuntary termination without Cause or voluntary resignation for Good Reason occurs within
twelve (12) months of the Effective Date of this Agreement, and you furnish the effective Release and Waiver provided for herein, the vesting of the shares subject to the Option shall be accelerated such that twenty-five percent (25%) of
said shares (250,000 shares) shall be deemed fully-vested and immediately exercisable effective as of the date of such termination or resignation. In the event you are eligible for Severance Benefits under this Section 4.3, you are not eligible
for any Change In Control Severance Benefits under Section 4.4 below. 
 4.4 Termination Without Cause or Resignation
For Good Reason in Connection with a Change in Control. If, within the three (3) months immediately preceding or the twelve (12) months immediately following the effective date of a Change in Control, your employment terminates due to
an involuntary termination (not including death or Complete Disability) without Cause, or due to your voluntary resignation for Good Reason, the Company shall pay you all base salary, accrued and unused vacation benefits and any accrued bonuses
determined by the Board to have been earned by you in accordance with Section 2.2 and any other accrued benefits, in each case as earned through the date of termination, and any unreimbursed expenses incurred in accordance with Company policy,
at the rates in effect at the time of such termination, less standard deductions and withholdings. In addition, upon your furnishing to the Company the Release and Waiver within the time frame set forth therein, but in no event later than 45 days
following your termination date, you shall be entitled to: (1) a single lump-sum 

  
 4. 

 
payment in an amount equal to twelve (12) months of your then-current base salary, subject to standard payroll deductions and withholdings, payable within 10 business days of the date the
Release and Waiver becomes effective; (2) a lump sum payment equal to your then-current target bonus, subject to standard payroll deductions and withholdings, payable within thirty (30) days of the date the Release and Waiver becomes
effective; and (3) provided that you timely elect such coverage, the continuation of your group health continuation coverage under COBRA at the Company’s expense for a period of twelve (12) months following the termination date;
provided, however, that in the event you become eligible for comparable group insurance coverage in connection with new employment, such COBRA premium payments by the Company shall terminate immediately; and (4) the vesting of the
shares subject to the Option shall be accelerated such that one-hundred percent (100%) of said shares shall be deemed fully-vested and immediately exercisable effective as of the date of such termination. In the event you are eligible for
Change In Control Severance Benefits under this Section 4.4, you are not eligible for any Severance Benefits under Section 4.3 above. 
 4.5 Application of Internal Revenue Code Section 409A. Notwithstanding anything to the contrary herein, the following provisions apply to the extent severance benefits provided herein are
subject to Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and the regulations and other guidance thereunder and any state law of similar effect (collectively
“Section 409A”). Severance benefits shall not commence until you have a “separation from service” for purposes of Section 409A. Each installment of severance benefits is a separate
“payment” for purposes of Treas. Reg. Section 1.409A-2(b)(2)(i), and the severance benefits are intended to satisfy the exemptions from application of Section 409A provided under Treasury Regulations Sections 1.409A-1(b)(4),
1.409A-l(b)(5) and 1.409A-1(b)(9). However, if such exemptions are not available and you are, upon separation from service, a “specified employee” for purposes of Section 409A, then, solely to the extent necessary to avoid adverse
personal tax consequences under Section 409A, the timing of the severance benefits payments shall be delayed until the earlier of (i) six (6) months and one day after your separation from service, or (ii) your death. 

You shall receive severance benefits only if you execute and return to the Company, within the applicable time period set forth therein but in no event
more than forty-five (45) days following the date of separation from service, the Release and Waiver attached to this Agreement as Exhibit A, and permit the Release and Waiver to become effective in accordance with its terms (such latest
permitted date, the “Release and Waiver Deadline”). If the severance benefits are not covered by one or more exemptions from the application of Section 409A and the Release and Waiver could become effective
in the calendar year following the calendar year in which you separate from service, the Release and Waiver will not be deemed effective any earlier than the Release and Waiver Deadline. None of the severance benefits will be paid or otherwise
delivered prior to the effective date of the Release and Waiver. Except to the minimum extent that payments must be delayed because you are a “specified employee” or until the effectiveness of the Release and Waiver, all amounts will be
paid as soon as practicable in accordance with the Company’s normal payroll practices. 
 The severance benefits are intended to qualify
for an exemption from application of Section 409A or comply with its requirements to the extent necessary to avoid adverse personal tax consequences under Section 409A, and any ambiguities herein shall be interpreted accordingly.

  
 5. 

 4.6 Limitation on Payments. If the value of any payment or other benefit you would
receive from the Company or otherwise in connection with a Change in Control (the “Benefit”) would (i) constitute a “parachute payment” within the meaning of Section 280G of the Code, and (ii) but for this
sentence, be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then such Benefit shall be reduced to the Reduced Amount. The “Reduced Amount” shall be either: 

(i) the largest portion of the Benefit that would result in no portion of the Benefit being subject to the Excise Tax; or 

(ii) the largest portion, up to and including the total, of the Benefit, 
 whichever amount, after taking into account all applicable federal, state and local employment taxes, income taxes, and the Excise Tax (all computed at the highest applicable marginal rate), results in
your receipt, on an after-tax basis, of the greater amount of the Benefit notwithstanding that all or some portion of the Benefit may be subject to the Excise Tax. If a reduction in payments or benefits constituting “parachute payments” is
necessary so that the Benefit equals the Reduced Amount, reduction shall occur in the following order unless you elect in writing a different order (provided, however, that such election shall be subject to the Company’s approval if made on or
after the date on which the event that triggers the Benefit occurs): reduction of cash payments; cancellation of accelerated vesting of stock awards; reduction of employee benefits. In the event that acceleration of vesting of stock award
compensation is to be reduced, such acceleration of vesting shall be cancelled in the reverse order of the date of grant of your stock awards unless you elect in writing a different order for cancellation. 

The accounting firm engaged by the Company for general audit purposes as of the day prior to the effective date of the Change in Control shall perform
the foregoing calculations. If the accounting firm so engaged by the Company is serving as accountant or auditor for the individual, entity or group effecting the Change in Control, the Company shall appoint a nationally recognized accounting firm
to make the determinations required hereunder. The Company shall bear all expenses with respect to the determinations by such accounting firm required to be made hereunder. 
 The accounting firm engaged to make the determinations hereunder shall provide its calculations, together with detailed supporting documentation, to you and the Company within 15 calendar days after the
date on which your right to a Benefit is triggered (if requested at that time by you or the Company) or such other time as requested by you or the Company. If the accounting firm determines that no Excise Tax is payable with respect to a Benefit, it
shall furnish you and the Company with an opinion reasonably acceptable to you that no Excise Tax will be imposed with respect to such Benefit. Any good faith determinations of the accounting firm made hereunder shall be final, binding and
conclusive upon you and the Company, except as set forth below. 
 If, notwithstanding any reduction described in this Section 4.6, the
Internal Revenue Service (the “IRS”) determines that you are liable for the Excise Tax as a result of the receipt of the payment of benefits as described above, then such you shall be obligated to pay back to the Company, within 30
days after a final IRS determination or in the event that you challenge the final IRS 

  
 6. 

 
determination, a final judicial determination, a portion of the payment equal to the “Repayment Amount.” The Repayment Amount with respect to the payment of benefits shall be the
smallest such amount, if any, as shall be required to be paid to the Company so that your net after-tax proceeds with respect to any payment of benefits (after taking into account the payment of the Excise Tax and all other applicable taxes imposed
on such payment) shall be maximized. The Repayment Amount with respect to the payment of benefits shall be zero if a Repayment Amount of more than zero would not result in your net after-tax proceeds with respect to the payment of such benefits
being maximized. If the Excise Tax is not eliminated pursuant to this paragraph, you shall pay the Excise Tax. 
 Notwithstanding any other
provision of this Section 4.6, if (i) there is a reduction in the payment of benefits as described in this Section, (ii) the IRS later determines that you are liable for the Excise Tax, the payment of which would result in the
maximization of your net after-tax proceeds (calculated as if your benefits had not previously been reduced), and (iii) you pay the Excise Tax, then the Company shall pay to you those benefits which were reduced pursuant to this Section
contemporaneously or as soon as administratively possible after you pay the Excise Tax so that your net after-tax proceeds with respect to the payment of benefits is maximized. 

4.7 Definitions. 
 (a) Change in Control. “Change in Control” shall have the meaning ascribed to it in Section 13(d) of the Plan; provided, however, that a merger or other transaction
effected solely for the purpose of changing the domicile of the Company shall not constitute a “Change in Control” for purposes of this Agreement. 
 (b) Cause. “Cause” shall mean, as determined in the sole discretion of the Board following written notice of the condition(s) believed to constitute Cause, which notice shall describe
such condition(s) and, to the extent such conditions are curable, a reasonable period of time, not to exceed 30 days following receipt of the written notice, to cure such conditions: (i) your repeated failure to satisfactorily perform your job
duties; (ii) your failure to comply with all material applicable laws in performing your job duties or in directing the conduct of the Company’s business; (iii) your commission of any felony or intentionally fraudulent acts against
the Company, its affiliates, employees, agents or customers; (iv) your participation in any activity that is directly competitive with or intentionally injurious to the Company or any of its affiliates or which violates the terms of your
Proprietary Information and Inventions Agreement; or (v) your commission of any fraud against the Company or any of its affiliates, or use or intentional appropriation for your personal use or benefit of any funds or material properties of the
Company not authorized by the Board to be so used or appropriated. 
 (c) Good Reason. “Good Reason” for you to
terminate your employment hereunder shall mean the occurrence of any of the following events without your consent: (i) the relocation of your principal place of employment to a point more than thirty-five (35) miles from San Diego County,
California; (ii) a material reduction in your base salary relative to your base salary in effect immediately prior 

  
 7. 

 
to such reduction, unless such reduction is part of an across-the-board reduction in the salary level of all other executive officers of the Company by the same percentage amount; (iii) a
material adverse change in your title, duties, authority or responsibilities relative to the title, duties, authority or responsibilities in effect immediately prior to such reduction, including, but not limited to, a change in your responsibilities
such that you are not the highest ranking financial executive of the group of companies including the Company and its affiliates; or (iv) a material breach by the Company of its obligations under this Agreement; provided, however,
that, such termination by you shall only be deemed for “Good Reason” pursuant to the foregoing definition if: (A) you give the Company written notice of your intent to terminate for Good Reason within 60 days following the first
occurrence of the condition(s) that you believe constitute(s) Good Reason, which notice shall describe such condition(s); (B) the Company fails to remedy such condition(s) within 30 days following receipt of the written notice (the “Cure
Period”); and (C) you voluntarily terminate your employment within 60 days following the end of the Cure Period. 

(d) Complete Disability. “Complete Disability” shall mean your inability to perform your duties under this Agreement,
whether with or without reasonable accommodation, because you have become permanently disabled within the meaning of any policy of disability income insurance covering employees of the Company then in force. In the event the Company has no policy of
disability income insurance covering employees of the Company in force when you become disabled, the term “Complete Disability” shall mean your inability to perform your duties under this Agreement, whether with or without reasonable
accommodation, by reason of any incapacity, physical or mental, which the Board, based upon medical advice or an opinion provided by a licensed physician acceptable to the Board, determines to have incapacitated you from satisfactorily performing
all of your usual services for the Company, with or without reasonable accommodation, for a period of at least 180 days during any 12-month period (whether or not consecutive). Based upon such medical advice or opinion, the determination of the
Board shall be final and binding and the date such determination is made shall be the date of such Complete Disability for purposes of this Agreement. 
 5. Confidential and Proprietary Information; Nonsolicitation. 
 5.1
As a condition of employment you agree to execute and abide by the Company’s standard Proprietary Information and Inventions Agreement, attached hereto as Exhibit B. 

5.2 While employed by the Company and for one year thereafter, you agree that in order to protect the Company’s trade secrets
and confidential and proprietary information from unauthorized use, you will not, either directly or through others, solicit or attempt to solicit any employee, consultant or independent contractor of the Company to terminate his or her relationship
with the Company in order to become an employee, consultant or independent contractor to or for any other person or business entity. 
 6.
Trade Secrets of Others. It is the understanding of you and the Company that you shall not divulge to the Company or its affiliates any confidential information or trade secrets belonging to others, including your former employers, nor shall the
Company or its affiliates seek to elicit from you any such information. Consistent with the foregoing, you shall not provide to the Company or its affiliates, and the Company and/or its affiliates shall not request, any documents or copies of
documents containing such information. 

  
 8. 

 7. Assignment and Binding Effect. This Agreement shall be binding upon and inure to the benefit of
you and your heirs, executors, personal representatives, assigns, administrators and legal representatives. Because of the unique and personal nature of your duties under this Agreement, neither this Agreement nor any rights or obligations under
this Agreement shall be assignable by you. This Agreement shall be binding upon and inure to the benefit of the Company and its successors, assigns and legal representatives. 
 8. Choice of Law. This Agreement is made in the State of California. This Agreement shall be construed and interpreted in accordance with the internal laws of the State of California. 

9. Integration. This Agreement, including Exhibits A and B, contains the complete, final and exclusive agreement of the parties
hereto relating to the terms and conditions of your employment and the termination of your employment, and supersedes all prior and contemporaneous oral and written employment agreements or arrangements between the parties hereto. To the extent this
Agreement conflicts with the Proprietary Information and Inventions Agreement attached as Exhibit B hereto, the Proprietary Information and Inventions Agreement controls. 
 10. Amendment. This Agreement cannot be amended or modified except by a written agreement signed by you and the CEO. 
 11. Waiver. No term, covenant or condition of this Agreement or any breach thereof shall be deemed waived, except with the written consent of the party against whom the wavier is claimed, and any
waiver or any such term, covenant, condition or breach shall not be deemed to be a waiver of any preceding or succeeding breach of the same or any other term, covenant, condition or breach. 
 12. Severability. The finding by a court of competent jurisdiction of the unenforceability, invalidity or illegality of any provision of this Agreement shall not render any other provision of this
Agreement unenforceable, invalid or illegal. Such court shall have the authority to modify or replace the invalid or unenforceable term or provision with a valid and enforceable term or provision which most accurately represents the intention of the
parties hereto with respect to the invalid or unenforceable term or provision. 
 13. Interpretation; Construction. The headings set
forth in this Agreement are for convenience of reference only and shall not be used in interpreting this Agreement. This Agreement has been drafted by legal counsel representing the Company, but you have been encouraged to consult with, and have
consulted with, your own independent counsel and tax advisors with respect to the terms of this Agreement. The Company agrees to reimburse you, up to a maximum of two thousand dollars ($2,000), for attorneys’ fees incurred by you in securing
review of the Agreement by a duly-licensed member of the California Bar. The parties hereto acknowledge that each party hereto and its counsel has reviewed and revised, or had an opportunity to review and revise, this Agreement, and any rule of
construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this Agreement. 

  
 9. 

 14. Representations and Warranties. You represent and warrant that you are not restricted or
prohibited, contractually or otherwise, from entering into and performing each of the terms and covenants contained in this Agreement, and that your execution and performance of this Agreement will not violate or breach any other agreements between
you and any other person or entity. 
 15. Counterparts; Facsimile. This Agreement may be executed in two counterparts, each of which
shall be deemed an original, all of which together shall contribute one and the same instrument. Facsimile signatures shall be treated the same as original signatures. 
 16. Litigation Costs. Should any claim be commenced between the parties hereto or their personal representatives concerning any provision of this Agreement or the rights and duties of any person in
relation to this Agreement, the party prevailing in such action shall be entitled, in addition to such other relief as may be granted to a reasonable sum as and for that party’s attorney’s fees in such action. 

Please signify your agreement to the foregoing terms by signing and dating this letter in the space provided below, and return it to me at your earliest
convenience. 
  

	
	Sincerely,
	
	

	 Christophe Schilling
 Chief
Executive Officer
 Genomatica, Inc.

  

									
	Acknowledged and Agreed:	 		 		 		 	
					
	 

	 		 	Date:	 	 July 8, 2011
	 	
	Michael Keane	 		 		 		 	

  
 10.

 EXHIBIT A 
 RELEASE AND WAIVER OF CLAIMS 
 TO BE SIGNED FOLLOWING TERMINATION WITHOUT
CAUSE 
 OR RESIGNATION FOR GOOD REASON 
 In consideration of the payments and other benefits set forth in the Employment Agreement dated June 30, 2011, to which this form is attached, I, Michael Keane hereby furnish
GENOMATICA, INC. (the “Company”), with the following release and waiver (“Release and Waiver”). 
 In exchange for the consideration provided to me by the Employment Agreement that I am not otherwise entitled to receive, I hereby generally and completely release the Company and its directors, officers,
employees, shareholders, partners, agents, attorneys, predecessors, successors, parent and subsidiary entities, insurers, affiliates, and assigns from any and all claims, liabilities and obligations, both known and unknown, that arise out of or are
in any way related to events, acts, conduct, or omissions occurring prior to my signing this Release and Waiver. This general release includes, but is not limited to: (1) all claims arising out of or in any way related to my employment with the
Company or the termination of that employment; (2) all claims related to my compensation or benefits from the Company, including salary, bonuses, commissions, vacation pay, expense reimbursements, severance pay, fringe benefits, stock, stock
options, or any other ownership interests in the Company; (3) all claims for breach of contract, wrongful termination, and breach of the implied covenant of good faith and fair dealing; (4) all tort claims, including claims for fraud,
defamation, emotional distress, and discharge in violation of public policy; and (5) all federal, state, and local statutory claims, including claims for discrimination, harassment, retaliation, attorneys’ fees, or other claims arising
under the federal Civil Rights Act of 1964 (as amended), the federal Americans with Disabilities Act of 1990, the federal Age Discrimination in Employment Act of 1967 (as amended) (“ADEA”), and the California Fair Employment and Housing
Act (as amended). Notwithstanding the foregoing, released claims shall not include (i) any claims based on obligations created by or reaffirmed in this Release and Waiver; (ii) any vested retirement benefits or vested stock option rights;
(iii) any claims which by law cannot be released, including without limitation unemployment compensation claims and workers’ compensation claims (the settlement of which would require approval by the California Workers’ Compensation
Appeals Board); (iv) any claim for indemnification under the Employment Agreement, the Company’s bylaws or certificate of incorporation, or any agreement providing for the indemnification of Executive; or (v) any rights not in dispute
that Executive might have under the Company’s 2008 Equity Incentive Plan or similar plan or arrangement regarding equity awards to Executive or equity interests owned by Executive. 

I also acknowledge that I have read and understand Section 1542 of the California Civil Code which reads as follows: “A
general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the
debtor.” I hereby expressly waive and relinquish all rights and benefits under that 

 
section and any law of any jurisdiction of similar effect with respect to any claims I may have against the Company. 
 I acknowledge that, among other rights, I am waiving and releasing any rights I may have under ADEA, that this Release and Waiver is knowing and voluntary, and that the consideration given for this
Release and Waiver is in addition to anything of value to which I was already entitled as an executive of the Company. I further acknowledge that I have been advised, as required by the Older Workers Benefit Protection Act, that: (a) the
release and waiver granted herein does not relate to claims under the ADEA which may arise after this Release and Waiver is executed; (b) I should consult with an attorney prior to executing this Release and Waiver; and (c) I have 21 days
from the date of termination of my employment with the Company in which to consider this Release and Waiver (although I may choose voluntarily to execute this Release and Waiver earlier); (d) I have seven days following the execution of this
Release and Waiver to revoke my consent to this Release and Waiver; and (e) this Release and Waiver shall not be effective until the seven day revocation period has expired without my having earlier revoked this Release and Waiver, and I shall
not be entitled to receive any of the benefits provided by the Employment Agreement unless and until this Release and Waiver becomes effective. 
 I acknowledge my continuing obligations under my Proprietary Information and Inventions Agreement. Pursuant to the Proprietary Information and Inventions Agreement I understand that among other things, I
must not use or disclose any confidential or proprietary information of the Company and I must immediately return all Company property and documents (including all embodiments of proprietary information) and all copies thereof in my possession or
control. I understand and agree that my right to the severance benefits I am receiving in exchange for my agreement to the terms of this Release and Waiver is contingent upon my continued compliance with my Proprietary Information and Inventions
Agreement. 
 This Release and Waiver constitutes the complete, final and exclusive embodiment of the entire agreement between
the Company and me with regard to the subject matter hereof. I am not relying on any promise or representation by the Company that is not expressly stated herein. This Release and Waiver may only be modified by a writing signed by both me and a duly
authorized officer of the Company. 
  

									
	Date:	 	  
	 		 	By:	 	  

		 		 		 		 	Michael Keane

 EXHIBIT B 
 PROPRIETARY INFORMATION AND INVENTIONS AGREEMENTLicense Agreement

 Exhibit 10.16 
 ***Text Omitted and Filed Separately 
 with the Securities and Exchange
Commission. 
 Confidential Treatment Requested 
 Under 17 C.F.R. Sections 200.80(b)(4) 
 and 230.406 

LICENSE AGREEMENT 
 BETWEEN 
 GENOMATICA, INC. 

AND 

THE REGENTS OF THE UNIVERSITY OF CALIFORNIA 
 FOR 
 CASE NO. [...***...] 

CASE NO. [...***...] 
 CASE NO. [...***...] 
 CASE NO. [...***...]

 CASE NO. [...***...] 
 CASE NO. [...***...] 
 CASE NO. [...***...]

  

					
		  		  	***Confidential Treatment Requested

 TABLE OF CONTENTS 

 

							
	 Article 1:
	 	Definitions	  	 	3	  
			
	 Article 2:
	 	Grant	  	 	6	  
			
	 Article 3:
	 	Considerations	  	 	8	  
			
	 Article 4:
	 	Reports, Records and Payments	  	 	11	  
			
	 Article 5:
	 	Patent Matters	  	 	14	  
			
	 Article 6:
	 	Governmental Matters	  	 	16	  
			
	 Article 7:
	 	Termination of Agreement	  	 	16	  
			
	 Article 8:
	 	Limited Warranty and Indemnification	  	 	17	  
			
	 Article 9:
	 	Use of Names and Trademarks	  	 	19	  
			
	 Article 10:
	 	Miscellaneous Provisions	  	 	19	  
			
	 Exhibit A:
	 	Stock Purchase Agreement and Restated Articles of Incorporation	  			
			
	 Exhibit B:
	 	Assignment of First Invention	  			

 LICENSE AGREEMENT 

This agreement (“Agreement”) is made by and between Genomatica, Inc., a California corporation having an address at 5405
Morehouse Drive, Suite 210, San Diego, CA 92121 (“LICENSEE”) and The Regents Of The University Of California, a California corporation having its statewide administrative offices at 1111 Franklin Street, Oakland, California 94607-5200
(“UNIVERSITY”), represented by its San Diego campus having an address at University of California, San Diego, Technology Transfer & Intellectual Property Services, Mail-code 0910, 9500 Gilman Drive, La Jolla, California 92093-0910
(“UCSD”). 
 This Agreement is effective on the date of the last signature (“Effective Date”). 

RECITALS 

WHEREAS, the parties have previously entered into a license agreement with an effective date of July 8, 1999 (UC control number
2000-03-0001) (the “Prior Agreement”) whereby University licensed certain rights under certain of the Inventions (defined below) to LICENSEE; 
 WHEREAS, this Prior Agreement shall terminate on the Effective Date of this Agreement; 
 WHEREAS, the inventions disclosed in UCSD Case Docket No. [...***...] (“First Invention”), were made by [...***...] (hereinafter, the “First Inventor”) and are covered by
Patent Rights as defined below. [...***...]; 
 WHEREAS, the inventions disclosed in UCSD Case Docket No.
[...***...] (“Second Invention”), were made in the course of research at UCSD by [...***...] (hereinafter and collectively, the “Second Inventors”) and are covered by Patent Rights as defined below; 

WHEREAS, the inventions disclosed in UCSD Case Docket No. [...***...] (“Third Invention”), were made in the course of
research at UCSD by [...***...] (hereinafter and collectively, the “Third Inventors”) and are covered by Patent Rights as defined below; 
 WHEREAS, the inventions disclosed in UCSD Case Docket No. [...***...] (“Fourth Invention”), were made in the course of research at UCSD by [...***...] (hereinafter and collectively,
the “Fourth Inventors”) [...***...] 

  

					
		  	1.	  	***Confidential Treatment Requested

 [...***...]; 
 WHEREAS, the inventions disclosed in UCSD Case Docket No. [...***...] (“Fifth Invention”), were made in the course of research at UCSD by [...***...] (hereinafter, the “Fifth
Inventor”) and are covered by Patent Rights as defined below; 
 WHEREAS, the inventions disclosed in UCSD Case Docket No.
[...***...] (“Sixth Invention”), were made in the course of research at UCSD by [...***...] (hereinafter and collectively, the “Sixth Inventors”) and are covered by Patent Rights as defined below; 

WHEREAS, the inventions disclosed in UCSD Case Docket No. [...***...] (“Seventh Invention”), were made in the course of
research at UCSD by [...***...] (hereinafter and collectively, the “Seventh Inventors”) and in the course of research at [...***...] by [...***...] and are covered by Patent Rights as defined below; 

WHEREAS, the research from which the [...***...] Inventions arose was sponsored in part by the Government of the United States of
America and as a consequence this license is subject to overriding obligations to the Federal Government under 35 U.S.C. §§ 200-212 and applicable regulations; 
 WHEREAS, the [...***...] Inventors are employees of UCSD, and they are obligated to assign all of their right, title and interest in each applicable Invention to UNIVERSITY; 

WHEREAS, the Fourth Inventors are employees of UCSD, and they are obligated to assign all of their right, title and interest in the
Fourth Invention to UNIVERSITY; [...***...]; 
 WHEREAS, UNIVERSITY is desirous that the Inventions be developed and
utilized to the fullest possible extent so that their benefits can be enjoyed by the general public; 
 WHEREAS, LICENSEE is
desirous of obtaining certain rights from UNIVERSITY for commercial development, use, and sale of the Inventions, and the UNIVERSITY is willing to grant such rights; and 
 WHEREAS, LICENSEE understands that UNIVERSITY may publish or otherwise disseminate information concerning the Inventions and Technology (as defined below) at any time and that LICENSEE is paying
consideration hereunder for its early access to the Inventions and Technology, not continued secrecy therein. 

  

					
		  	2.	  	***Confidential Treatment Requested

 NOW, THEREFORE, the parties agree as follows: 

ARTICLE 1 

DEFINITIONS 
 The terms, as defined herein, shall have the same meanings in both their singular and plural forms. 
 1.1 “Affiliate” means any corporation or other business entity in which LICENSEE owns or controls, directly or indirectly, at least fifty percent (50%) of the outstanding stock or
other voting rights entitled to elect directors, or in which LICENSEE is owned or controlled directly or indirectly by at least fifty percent (50%) of the outstanding stock or other voting rights entitled to elect directors; but in any country
where the local law does not permit foreign equity participation of at least fifty percent (50%), then an “Affiliate” includes any company in which LICENSEE owns or controls or is owned or controlled by, directly or indirectly, the maximum
percentage of outstanding stock or voting rights permitted by local law. 
 1.2 “Sublicensee” means a third
party to whom LICENSEE grants a sublicense of certain rights granted to LICENSEE under this Agreement, excluding any distributor, Third Party Partner or any end user of any Model Licensed Product. 

1.3 “Field” means [...***...]. 
 1.4 “Territory” means worldwide. 
 1.5 “Term”
means the period of time beginning on the Effective Date and ending on the later of (i) the expiration date of the longest-lived Patent Rights; or (ii) the twenty-first (21st) anniversary of Effective Date, unless terminated earlier
pursuant to Paragraph 7 hereof. 
 1.6 “Inventions” means any and all or any combination of First, Second,
Third, Fourth, Fifth, Sixth and Seventh Inventions, as context may require. 
 1.7 “First Patent Rights” means
[...***...] disclosing and claiming the First Invention, filed by First Inventor; and continuing applications thereof including divisions, substitutions, and continuations-in-part (but only to extent the claims thereof are enabled by
disclosure of the parent application); any patents issuing on said applications including reissues, reexaminations and extensions; and any corresponding foreign applications or patents. 

1.8 “Second Patent Rights” means any of the following: the US patent application [...***...] disclosing and
claiming the Second Invention, filed by Second Inventors and assigned to UNIVERSITY; and continuing applications thereof including divisions, substitutions, and continuations-in-part (but only to extent the claims thereof are enabled by disclosure
of the parent application); any patents issuing on said 

  

					
		  	3.	  	***Confidential Treatment Requested

 
applications including reissues, reexaminations and extensions; and any corresponding foreign applications or patents. 
 1.9 “Third Patent Rights” means any of the following: the US patent application [...***...] disclosing and claiming the Third Invention, filed by Third Inventors and assigned to
UNIVERSITY; and continuing applications thereof including divisions, substitutions, and continuations-in-part (but only to extent the claims thereof are enabled by disclosure of the parent application); any patents issuing on said applications
including reissues, reexaminations and extensions; and any corresponding foreign applications or patents. 
 1.10
“Fourth Patent Rights” means UNIVERSITY’S rights in any of the following: the US patent applications [...***...] disclosing and claiming the Fourth Invention, filed by Fourth Inventors and assigned to UNIVERSITY by
[...***...], and continuing applications thereof including divisions, substitutions, and continuations-in-part (but only to extent the claims thereof are enabled by disclosure of the parent application); any patents issuing on said
applications including reissues, reexaminations and extensions; and any corresponding foreign applications or patents. 

1.11 “Fifth Patent Rights” means any of the following: any and all US patent application(s) disclosing and claiming the
Fifth Invention, filed by the Fifth Inventor and assigned to UNIVERSITY; and continuing applications thereof including divisions, substitutions, and continuations-in-part (but only to extent the claims thereof are enabled by disclosure of the parent
application); any patents issuing on said applications including reissues, reexaminations and extensions; and any corresponding foreign applications or patents. 
 1.12 “Sixth Patent Rights” means any of the following: the US patent application [...***...] disclosing and claiming the Sixth Invention, filed by Sixth Inventors and assigned to
UNIVERSITY; and continuing applications thereof including divisions, substitutions, and continuations-in-part (but only to extent the claims thereof are enabled by disclosure of the parent application); any patents issuing on said applications
including reissues, reexaminations and extensions; and any corresponding foreign applications or patents. 
 1.13
“Seventh Patent Rights” means UNIVERSITY’S rights in any of the following: any and all US patent application(s) disclosing and claiming the Seventh Invention, filed by Seventh Inventors and assigned to UNIVERSITY; and continuing
applications thereof including divisions, substitutions, and continuations-in-part (but only to extent the claims thereof are enabled by disclosure of the parent application); any patents issuing on said applications including reissues,
reexaminations and extensions; and any corresponding foreign applications or patents. 

  

					
		  	4.	  	***Confidential Treatment Requested

 1.14 “Patent Rights” means any and all or any combination of First, Second,
Third, Fourth, Fifth, Sixth and Seventh Patent Rights, as context may require. 
 1.15 “Technology” means the
written technical information, data, knowledge, algorithms, computer programs, and/or software relating to any Invention, Licensed Product or Licensed Method which the Inventors or UNIVERSITY provide to LICENSEE prior to or as of the Effective Date.

 1.16 “Sponsor Rights” means all the applicable provisions of any license to the United States Government
executed by UNIVERSITY and the overriding obligations to the Federal Government under 35 U.S.C. §§ 200-212 and applicable governmental implementing regulations. 
 1.17 “Licensed Method” means any method that uses Technology, or is covered by any pending or issued and unexpired claim within the Patent Rights the use of which would constitute, but
for the license granted to LICENSEE under this Agreement, an infringement of any pending or issued and unexpired claim within Patent Rights. 
 1.18 “Licensed Product” means any composition or product that uses Technology, or is covered by any pending or issued and unexpired claim within the Patent Rights, or that is produced by
the Licensed Method, or the manufacture, use, sale, offer for sale, or importation of which would constitute, but for the license granted to LICENSEE by UNIVERSITY herein, an infringement of any pending or issued and unexpired claim within the
Patent Rights. 
 1.19 “Model Licensed Product” means any Standard Model Licensed Product, Modified Licensed
Product and/or New Model Licensed Product. 
 1.20 “Standard Model Licensed Product” means a Licensed Product
that is [...***...]. 
 1.21 “Modified Model Licensed Product” means a Licensed Product that is
[...***...]. 
 1.22 “New Model Licensed Product” means a Licensed Product that is [...***...].

 1.23 “Net Sales” means the total of the gross invoice prices of Licensed Products sold by LICENSEE,
[...***...] less the sum of the following actual and customary deductions where applicable and separately listed: cash, trade, or quantity discounts; sales, use, tariff, import/export duties or other excise taxes imposed on particular sales
(except for value-added and income taxes imposed on the sales of Licensed Products in foreign countries); transportation charges; or credits to customers because of 

  

					
		  	5.	  	***Confidential Treatment Requested

 
rejections or returns. [...***...] In the event that LICENSEE or any of its Affiliates sells Licensed Products through one or more distributors, Net Sales will include amounts received by
LICENSEE or its Affiliates for the sale of such Licensed Products to such distributors, but will not include any amounts received by such distributors for the sale of Licensed Products. 

1.24 “Consideration” means any consideration received by LICENSEE, including license fees, milestone payments, royalties
and stock premiums, [...***...]. 
 1.25 “Third Party Partner” means any entity that contracts with
LICENSEE for the purpose of LICENSEE developing for and delivering to such entity any deliverable (each, a “Deliverable”) that is either [...***...]. 
 1.26 “Patent Costs” means all out-of-pocket expenses for the preparation, filing, prosecution, and maintenance of all United States and foreign patents included in Patent Rights. Patent
Costs shall also include reasonable out-of-pocket expenses for patentability opinions, inventorship determination, preparation and prosecution of patent application, re-examination, re-issue, interference, and opposition activities related to
patents or applications in Patent Rights. 
 1.27 “Combination Product” means any product which is a Model
Licensed Product and contains other product(s) or product component(s) that (i) does not use Invention, Technology or Patent Rights; (ii) the sale, use or import by itself does not contribute to the infringement of Patent Rights;
(iii) can be sold separately by LICENSEE, its Sublicensees or an Affiliate; and (iv) enhances the market price of the final product(s) sold, used or imported by LICENSEE, its Sublicensee, or an Affiliate. 

ARTICLE 2 

GRANTS 

2.1 Patent License. Subject to the limitations set forth in this Agreement and Sponsor’s Rights, UNIVERSITY hereby grants to
LICENSEE and its Affiliates who agree in writing to be bound by this Agreement, and LICENSEE hereby accepts (on behalf of itself and its Affiliates), a license under UNIVERSITY’S interest in Patent Rights [...***...]

  

					
		  	6.	  	***Confidential Treatment Requested

 
[...***...] to make, have made, use, sell, offer for sale, and import Licensed Products and to practice Licensed Methods and to use Technology and to copy, distribute, modify and create
derivative works from the copyrighted material, if any, included in the Technology, in the Field within the Territory and during the Term. 
 2.2 The license granted herein is exclusive for UNIVERSITY’S Patent Rights and any copyrights included within the Technology, and UNIVERSITY shall not grant to third parties a further license
under Patent Rights or such copyrights in the Field, within the Territory and during the Term. 
 2.3 Sublicense.

 (a) The license granted in Paragraph 2.1 includes the right of LICENSEE to grant sublicenses to third parties during
the Term [...***...]. 
 (b) With respect to sublicenses granted pursuant to Paragraph 2.2 LICENSEE shall:

 (1) [...***...]; 
 (2) to the extent applicable, include all of the rights of and obligations due to UNIVERSITY (and, if applicable, the Sponsor’s Rights) and contained in this Agreement; 

(3) promptly provide UNIVERSITY with a copy of each sublicense issued; and 

(4) collect and guarantee payment of all payments due, directly or indirectly, to UNIVERSITY from Sublicensees and summarize and deliver
all reports due, directly or indirectly, to UNIVERSITY from Sublicensees. 
 (c) Upon termination of this Agreement for
any reason, UNIVERSITY, at its reasonable discretion, shall determine whether LICENSEE shall cancel or assign to UNIVERSITY any and all sublicenses; provided, however, that LICENSEE may submit a proposed sublicense to UNIVERSITY in advance for
UNIVERSITY’s prior approval, such approval not to be unreasonably withheld or delayed (i.e. UNIVERSITY will respond within forty-five (45) days after receipt of such proposal from LICENSEE), and if UNIVERSITY approves such sublicense, then
such sublicense shall also become a direct license between the Sublicensee and UNIVERSITY upon termination of this Agreement for any reason, provided that such Sublicensee is not the cause of the termination of this Agreement. 

2.4 Reservation of Rights. UNIVERSITY reserves the right to: 

(a) use the Inventions, Technology (including copyrights subsisting therein) and Patent Rights for educational and research
purposes; and 

  

					
		  	7.	  	***Confidential Treatment Requested

 (b) publish or otherwise disseminate any information about the Invention and
Technology at any time, provided that any such publication or dissemination shall not inhibit the ability of Inventions to be patented; and 
 (c) allow other nonprofit institutions to use Invention, Technology (including copyrights subsisting therein) and Patent Rights for educational and non-commercial research purposes in their
facilities. 
 ARTICLE 3 
 CONSIDERATIONS 
 3.1 Fees and Royalties. The parties hereto
understand that the fees and royalties payable by LICENSEE to UNIVERSITY under this Agreement are partial considerations for the license granted herein to LICENSEE under Technology and Patent Rights. LICENSEE shall pay UNIVERSITY: 

(a) a license issue fee of : 
 (i) twenty five thousand Dollars ($25,000) upon execution of this Agreement; and 
 (ii) [...***...], three hundred fifty thousand (350,000) shares of LICENSEE’S Series A-1 Preferred Stock (having the same antidilution protection as the Series A Preferred
Stock authorized in the Restated Articles of Incorporation of LICENSEE, a copy of which is attached to this Agreement as Exhibit A). Such Series A-1 Preferred Stock shall be issued to and delivered to UNIVERSITY within thirty
(30) days after written notice of approval of equity acceptance from the Office of the President of the University of California. In the event that such an approval is not granted, this Agreement shall remain in effect and LICENSEE and UCSD
shall renegotiate in good faith for a substitution of similar value for consideration. 
 (b) milestone payments within
[...***...] after the occurrence of the following events in the amounts set forth opposite the applicable event in the table below: 
  

			
	 Milestone Payment Amount
	  	 Milestone Event

	 (i) [...***...]
	  	[...***...]
	 (ii) [...***...]
	  	[...***...]

  

					
		  	8.	  	***Confidential Treatment Requested

 (c) an earned royalty: 

 

	 	(I)	on Net Sales by LICENSEE and/or its Affiliates: 

 (i) [...***...] for Standard Model Licensed Products; 
 (ii)
[...***...] for Modified Model Licensed Products; and 
 (iii) [...***...] 

Provided, however, that the earned royalty due on Net Sales of Combination Product by LICENSEE and/or its Affiliate(s) shall be
calculated as below: 
 Earned royalties due UNIVERSITY = [...***...] where: 

[...***...]; and 
 [...***...]. 
  

	 	(II)	on all Consideration received by LICENSEE from a Third Party Partner as payment for Deliverables: 

(i) [...***...]; or 
 (ii) [...***...]. 
 No multiple royalties shall be payable because any Model Licensed
Product or Deliverable, or its manufacture, use or sale is covered by more than one claim or patent or patent application within the Patent Rights. 
 (d) [...***...] of all sublicense fees, including, without limitation, [...***...] fees and [...***...], received by LICENSEE from its [...***...] that are not
[...***...], excluding [...***...] funding (exclusive of salaries for any persons who are not directly involved in [...***...] activities, except for the normal indirect costs the company charges towards its [...***...]
projects) and the fair market value of equity sold by LICENSEE to any such [...***...]. The percentage of all [...***...] fees owed to UNIVERSITY shall [...***...] by LICENSEE (including [...***...] funding provided to
LICENSEE by third parties) provided the amount owed to 

  

					
		  	9.	  	***Confidential Treatment Requested

 
UNIVERSITY shall never be [...***...] fees received by LICENSEE. 

(e) on each and every [...***...] royalty payment received by LICENSEE from its [...***...] on sales of Licensed
Product by [...***...] based on the royalty rate in paragraph 3.1 (c) 
 (f) Beginning [...***...] LICENSEE
shall pay UNIVERSITY at the end of each calendar year a minimum [...***...] payment of [...***...]; provided, however, that any payments made by LICENSEE to UNIVERSITY in the applicable calendar year under Paragraph 3.1(c) or 3.1
(e) shall be credited toward such minimum payment for such year; provided, further, however, that for the [...***...] of such Model Licensed Product or Deliverable, the amount of the minimum payment shall be pro-rated for the number of
months remaining in that calendar year. Beginning with the [...***...], LICENSEE shall pay UNIVERSITY at the end of such calendar year a minimum [...***...] payment of [...***...]; provided, however, that any payments made by
LICENSEE TO UNIVERSITY in the applicable calendar year under Paragraph 3.1(c) or 3.1 (e) shall be credited toward such minimum payment for such year. 
 All fees and royalty payments to be paid by LICENSEE hereunder shall be paid by LICENSEE pursuant to Paragraph 4.3 and shall be delivered by LICENSEE to UNIVERSITY as noted in Paragraph 10.1. 

3.2 Patent Costs. LICENSEE shall reimburse UNIVERSITY all past (prior to the Effective Date) and unreimbursed and future (on or
after the Effective Date) Patent Costs [...***...] following receipt by LICENSEE of an itemized invoice from UNIVERSITY. 

3.3 Due Diligence. 
 (a) LICENSEE shall: 
 (1) diligently proceed with the development,
manufacture and sale of Licensed Products; 
 (2) annually spend not less than [...***...] for the development of
Licensed Products during the first [...***...] of this Agreement; provided, however, that once LICENSEE has spent [...***...] or more developing Licensed Products, it shall be deemed to have satisfied its obligations under this Paragraph
3.3(a)(2). LICENSEE may, at its sole option, fund the research of any one of the Inventors and credit the amount of such funding actually paid to UCSD against its obligation under this paragraph; 

(3) market Licensed Products in the United States [...***...] of receiving regulatory approval to market such Licensed Products;

  

					
		  	10.	  	***Confidential Treatment Requested

 (4) reasonably fill the market demand for Licensed Products following commencement of
marketing at any time during the term of this Agreement; and 
 (5) obtain all necessary governmental approvals for the
manufacture, use and sale of Licensed Products. 
 (b) If LICENSEE fails to perform any of its obligations specified in
Paragraphs 3.3(a)(1)-(5), then UNIVERSITY shall have the right and option to either terminate this Agreement or change LICENSEE’s exclusive license to nonexclusive license. This right, if exercised by UNIVERSITY, supersedes the rights granted
in Article 2. 
 ARTICLE 4 
 REPORTS, RECORDS AND PAYMENTS 
 4.1 Reports. 

(a) Progress Reports. 
 (1) Beginning January 1, 2002 and ending on the date of first commercial sale of a Licensed Product in the United States, LICENSEE shall submit to UNIVERSITY once each calendar year a progress report
covering LICENSEE’s (and Affiliate’s and Sublicensee’s) activities to develop and test all Licensed Products and obtain governmental approvals necessary for marketing the same. Such reports shall include a summary of work completed;
summary of work in progress; current schedule of anticipated events or milestones; market plans for introduction of Licensed Products; and summary of resources (dollar value) spent in the reporting period. 

(2) LICENSEE shall also report to UNIVERSITY, in its immediately subsequent progress report, the date of first commercial sale of a
Licensed Product in each country. 
 (b) Royalty Reports. After the first commercial sale of a Licensed Product anywhere
in the world, LICENSEE shall submit to UNIVERSITY quarterly royalty reports on or before each February 28, May 31, August 31 and November 30 of each year. Each royalty report shall cover LICENSEE’s (and each
Affiliate’s and Sublicensee’s) most recently completed calendar quarter and shall show: 
 (1) the gross sales,
deductions as provided in Paragraph 1.23, and Net Sales during the most recently completed calendar quarter and the royalties, in US dollars, payable with respect thereto; 

(2) the number of each type of Licensed Product sold; 
 (2) Sublicense fees and royalties; 

  
 11.

	 	(3)	Consideration for Deliverables received during the most recently completed calendar quarter in US dollars, payable with respect thereto; 

 

	 	(4)	the method used to calculate the royalties; and 

  

	 	(5)	the exchange rates used. 

 If no
sales of Licensed Products or Deliverables have been made and no sublicense revenues have been received by LICENSEE during any reporting period, LICENSEE shall so report. 
 4.2 Records & Audits. 
 (a) LICENSEE shall
keep, and shall require its Affiliates and Sublicensees to keep, accurate and correct records of all Licensed Products manufactured, used, and sold, Deliverables developed and sold, and sublicense fees received under this Agreement. Such records
shall be retained by LICENSEE for at least five (5) years following a given reporting period. 
 (b) All records
shall be available during normal business hours for inspection at the expense of UNIVERSITY by UNIVERSITY’s Internal Audit Department or by a Certified Public Accountant selected by UNIVERSITY and in compliance with the other terms of this
Agreement for the sole purpose of verifying reports and payments. Such inspector shall not disclose to UNIVERSITY any information other than information relating to the accuracy of reports and payments made under this Agreement or other compliance
issues. In the event that any such inspection shows an under reporting and underpayment in excess of [...***...] for any twelve (12) month period, then LICENSEE shall pay the cost of the audit as well as any additional sum that would have
been payable to UNIVERSITY had the LICENSEE reported correctly, plus an interest charge at a rate of [...***...] per year. Such interest shall be calculated from the date the correct payment was due to UNIVERSITY up to the date when such
payment is actually made by LICENSEE. For underpayment not in excess of [...***...] for any twelve (12) month period, LICENSEE shall pay the difference within thirty (30) days without interest charge or inspection cost. If the
inspection shows any overpayment by LICENSEE, UNIVERSITY shall promptly credit such amount to any royalties that may be owed by LICENSEE to UNIVERSITY in the future. 
 4.3 Payments. 
 (a) All fees and royalties due
UNIVERSITY shall be paid in United States dollars and all checks shall be made payable to “The Regents of the University of California”, referencing UNIVERSITY’S taxpayer identification number, 95-6006144. When Licensed Products are
sold in currencies other than United States dollars, LICENSEE shall first determine the earned royalty in the currency of the country in which Licensed Products were sold and then convert the amount into equivalent United States funds, using the
exchange rate quoted in the Wall Street Journal on the last business day of the applicable reporting period. 

  

					
		  	12.	  	***Confidential Treatment Requested

 (c) Royalty Payments. 

(1) Royalties shall accrue when Licensed Products are invoiced, or if not invoiced, when delivered to a third party or Affiliate.

 (2) LICENSEE shall pay earned royalties quarterly on or before February 28, May 31, August 31 and
November 30 of each calendar year. Each such payment shall be for earned royalties accrued within LICENSEE’s most recently completed calendar quarter. 
 (3) Royalties earned on sales occurring or under sublicense granted pursuant to this Agreement in any country outside the United States shall not be reduced by LICENSEE for any taxes, fees, or other
charges imposed by the government of such country on the payment of royalty income, except that all payments made by LICENSEE in fulfillment of UNIVERSITY’s tax liability in any particular country may be credited against earned royalties or
fees due UNIVERSITY for that country. LICENSEE shall pay all bank charges resulting from the transfer of such royalty payments. 
 (4) If at any time legal restrictions prevent the prompt remittance of part or all royalties by LICENSEE with respect to any country where a Licensed Product is sold or a sublicense is granted pursuant to
this Agreement, LICENSEE shall convert the amount owed to UNIVERSITY into US currency and shall pay UNIVERSITY directly from its US sources of fund for as long as the legal restrictions apply. 

(5) LICENSEE shall not collect royalties from, or cause to be paid on Licensed Products sold to the account of the US Government or any
agency thereof as provided for in the license to the US Government. 
 (6) In the event that any patent or patent claim within
Patent Rights is held invalid in a final decision by a patent office from which no appeal or additional patent prosecution has been or can be taken, or by a court of competent jurisdiction and last resort and from which no appeal has or can be
taken, all obligation to pay royalties based solely on that patent or claim or any claim patentably indistinct therefrom shall cease as of the date of such final decision. LICENSEE shall not, however, be relieved from paying any royalties that
accrued before the date of such final decision, that are based on another patent or claim not involved in such final decision, or that are based on the use of Technology. 
 (d) Late Payments. In the event royalty, reimbursement and/or fee payments are not received by UNIVERSITY when due, LICENSEE shall pay to UNIVERSITY interest charges at a rate of [...***...]
per year. Such interest shall be calculated from the date payment was due until actually received by UNIVERSITY. 

  

					
		  	13.	  	***Confidential Treatment Requested

 ARTICLE 5 
 PATENT MATTERS 
 5.1 Patent Prosecution and Maintenance. 

(a) LICENSEE shall diligently prosecute and maintain the United States and, if available, foreign patents, and applications in
Patent Rights claiming the [...***...] Invention, at its own cost, using counsel of its choice. LICENSEE shall provide UNIVERSITY with copies of all relevant documentation relating to such prosecution and UNIVERSITY shall keep this
documentation confidential. 
 (b) Provided that LICENSEE has reimbursed UNIVERSITY for Patent Costs pursuant to
Paragraph 3.2, except as provided in Paragraph 5.1(a), UNIVERSITY shall diligently prosecute and maintain the United States and, if available, foreign patents, and applications in Patent Rights using counsel of its choice. UNIVERSITY shall
provide LICENSEE with copies of all relevant documentation relating to such prosecution and LICENSEE shall keep this documentation confidential. The counsel shall take instructions only from UNIVERSITY, and all patents and patent applications in
such Patent Rights shall be assigned solely to UNIVERSITY. 
 (c) UNIVERSITY shall consider amending any patent
application in Patent Rights to include claims reasonably requested by LICENSEE to protect the products contemplated to be sold by LICENSEE under this Agreement. 
 (d) LICENSEE shall apply for an extension of the term of any patent in Patent Rights if appropriate under the Drug Price Competition and Patent Term Restoration Act of 1984 and/or European,
Japanese and other foreign counterparts of this law. LICENSEE shall prepare all documents for such application, and UNIVERSITY shall execute such documents and to take any other additional action as LICENSEE reasonably requests in connection
therewith. 
 (e) LICENSEE may elect to terminate its obligations under Paragraph 5.1(a) or its reimbursement
obligations with respect to any patent application or patent in Patent Rights upon [...***...] written notice to UNIVERSITY. UNIVERSITY shall use reasonable efforts to curtail further Patent Costs for such application or patent when such
notice of termination is received from LICENSEE. UNIVERSITY, [...***...], may continue prosecution and maintenance of said application or patent, and LICENSEE shall then have no further license with respect thereto. Non-payment of any portion
of Patent Costs with respect to any application or patent may be deemed by UNIVERSITY as an election by LICENSEE to terminate its reimbursement obligations with respect to such application or patent. 

5.2 Patent Infringement. 
 (a) If LICENSEE learns of any substantial infringement of Patent Rights, LICENSEE shall so inform UNIVERSITY and provide UNIVERSITY with reasonable evidence of the infringement. Neither party shall
notify a third party of the infringement of Patent Rights 

  

					
		  	14.	  	***Confidential Treatment Requested

 
without the consent of the other party. Both parties shall use reasonable efforts and cooperation to terminate infringement without litigation. 

(b) For [...***...] shall have the first right, but not the obligation, to enforce the Patents Rights against any third
party infringer. [...***...] agrees to provide [...***...] all reasonable assistance, at [...***...] expense, in such enforcement, including, without limitation, executing any necessary documentation related thereto. If
[...***...] fails to bring an action or proceeding [...***...], set forth in the appropriate laws and regulations for the filing of such actions, whichever comes first, then [...***...] shall have the right, but not the obligation,
to bring and control any such action at its own expense and by counsel of its own choice. In such case, [...***...] agrees to provide [...***...] all reasonable assistance, at [...***...] expense, in such enforcement, including,
without limitation, executing any necessary documentation related thereto. Regardless which party brings such enforcement action, the party not bringing the action shall have the right to participate in such action at its own expense with its own
counsel. 
 (c) Recoveries from actions brought pursuant to Paragraph 5.2(b) shall belong to the party bringing
suit, except that for suits brought by LICENSEE, a portion of any recovery, after reimbursement of all fees and costs incurred in connection with such suits, shall be paid to UNIVERSITY as follows: [...***...]. Legal actions
brought jointly by UNIVERSITY and LICENSEE and fully participated in by both shall be [...***...]. 
 (d) Each
party shall cooperate with the other in litigation proceedings at the expense of the party bringing suit. Litigation shall be controlled by the party bringing the suit, except that UNIVERSITY may be represented by counsel of its choice in any suit
brought by LICENSEE. 
 5.3 Patent Marking. LICENSEE shall mark all Licensed Products made, used or sold under the terms
of this Agreement, or their containers, in accordance with the applicable patent marking laws. 
 5.4 [...***...].

  

					
		  	15.	  	***Confidential Treatment Requested

 ARTICLE 6 
 GOVERNMENTAL MATTERS 
 6.1 Governmental Approval or Registration. If
this Agreement or any associated transaction is required by the law of any nation to be either approved or registered with any governmental agency, LICENSEE shall assume all legal obligations to do so. LICENSEE shall notify UNIVERSITY if it becomes
aware that this Agreement is subject to a United States or foreign government reporting or approval requirement. LICENSEE shall make all necessary filings and pay all costs including fees, penalties, and all other out-of-pocket costs associated with
such reporting or approval process. 
 6.2 Export Control Laws. LICENSEE shall observe all applicable United States and
foreign laws with respect to the transfer of Licensed Products and related technical data to foreign countries, including, without limitation, the International Traffic in Arms Regulations and the Export Administration Regulations. 

6.3 Preference for United States Industry. If LICENSEE sells a Licensed Product or Combination Product in the US, LICENSEE shall
manufacture said product substantially in the US. 
 ARTICLE 7 

TERMINATION OF THE AGREEMENT 
 7.1 Termination by The Regents. If LICENSEE fails to perform or violates any term of this Agreement, then UNIVERSITY may give written notice of default (“Notice of Default”) to LICENSEE.
If LICENSEE fails to cure the default within ninety (90) days of the Notice of Default, UNIVERSITY may terminate this Agreement and the license granted herein by a second written notice (“Notice of Termination”) to LICENSEE. If a
Notice of Termination is sent to LICENSEE, this Agreement shall automatically terminate on the effective date of that notice. Termination shall not relieve LICENSEE of its obligation to pay any fees owed at the time of termination and shall not
impair any accrued right of UNIVERSITY. 
 7.2 Termination by LICENSEE. 

(a) LICENSEE shall have the right at any time and for any reason to terminate this Agreement upon a ninety (90) day written
notice to UNIVERSITY. Said notice shall state LICENSEE’s reason for terminating this Agreement. 
 (b) Any
termination under Paragraph 7.2(a) shall not relieve LICENSEE of any obligation or liability accrued under this Agreement prior to termination or rescind any payment made to UNIVERSITY or action by LICENSEE prior to the time termination becomes
effective. Termination shall not affect in any manner any rights of UNIVERSITY arising under this Agreement prior to termination. 

  
 16.

 7.3 Survival on Termination. The following Paragraphs and Articles shall survive the
termination of this Agreement: 
 (a) Paragraph 2.3(c); 

(b) Article 4 (REPORTS, RECORDS AND PAYMENTS); 
 (c) Paragraph 5.4 [...***...]; 
 (d) Paragraph 7.1
(Termination by the Regents); 
 (e) Paragraph 7.2(b); 

(f) Paragraph 7.3 (Survival on Termination); 
 (g) Paragraph 7.4 (Disposition of Licensed Products on Hand); 
 (h)
Paragraph 8.2 (Indemnification); 
 (i) Article 9 (USE OF NAMES AND TRADEMARKS); 

(j) Paragraph 10.2 hereof (Secrecy); and 
 (k) Paragraph 10.5 (Failure to Perform). 
 7.4 Disposition of Licensed
Products on Hand. Upon termination of this Agreement, LICENSEE may dispose of all previously made or partially made Licensed Products within a period of [...***...] provided that the sale of such Licensed Product by LICENSEE, its
Sublicensees, or Affiliates shall be subject to the terms of this Agreement, including but not limited to the rendering of reports and payment of royalties required under this Agreement. 

ARTICLE 8 

LIMITED WARRANTY AND INDEMNIFICATION 
 8.1 Limited Warranty. 
 (a) UNIVERSITY warrants that it has the
lawful right to grant the license it grants herein. 
 (b) The license granted herein and the associated Technology are
provided “AS IS” and without WARRANTY OF MERCHANTABILITY or WARRANTY OF FITNESS FOR A PARTICULAR PURPOSE or any other warranty, express or implied. UNIVERSITY makes no representation or warranty that the Licensed Product, Licensed Method
or the use of Patent Rights or Technology will not infringe any other patent or other proprietary rights. 

  

					
		  	17.	  	***Confidential Treatment Requested

 (c) In no event shall UNIVERSITY be liable for any incidental, special or
consequential damages resulting from exercise of the license granted herein or the use of the Invention, Licensed Product, Licensed Method or Technology. 
 (d) Nothing in this Agreement shall be construed as: 
 (1) a warranty or
representation by UNIVERSITY as to the validity or scope of any Patent Rights; 
 (2) a warranty or representation that
anything made, used, sold or otherwise disposed of under any license granted in this Agreement is or shall be free from infringement of patents of third parties; 
 (3) an obligation to bring or prosecute actions or suits against third parties for patent infringement except as provided in Paragraph 5.2 hereof; 

(4) conferring by implication, estoppel or otherwise any license or rights under any patents of UNIVERSITY other than Patent Rights as
defined in this Agreement, regardless of whether those patents are dominant or subordinate to Patent Rights; 
 (5) an
obligation to furnish any know-how not provided in Patent Rights and Technology; or 
 (6) an obligation to update Technology.

 8.2 Indemnification. 
 (a) LICENSEE shall indemnify, hold harmless and defend UNIVERSITY, its officers, employees, and agents; the sponsors of the research that led to the Invention; and the Inventors of the patents and
patent applications in Patent Rights and their employers against any and all claims, suits, losses, damage, costs, fees, and expenses incurred by any such party resulting from or arising out of exercise of this license or any sublicense. This
indemnification shall include, but not be limited to, any product liability. 
 (b) LICENSEE, at its sole cost and
expense, shall insure its activities in connection with the work under this Agreement and obtain, keep in force and maintain insurance or an equivalent program of self insurance as follows: 

(1) comprehensive or commercial general liability insurance (contractual liability included) with limits of at least:
(i) each occurrence, $1,000,000; (ii) products/completed operations aggregate, $2,000,000; (iii) personal and advertising injury, $1,000,000; and (iv) general aggregate (commercial form only), $2,000,000; and 

(2) the coverage and limits referred to above shall not in any way limit the liability of LICENSEE. 

  
 18.

 (c) LICENSEE shall furnish UNIVERSITY with certificates of insurance showing
compliance with all requirements. Such certificates shall: (i) provide for thirty (30) day advance written notice to UNIVERSITY of any modification; (ii) indicate that UNIVERSITY has been endorsed as an additional insured under the
coverage referred to above; and (iii) include a provision that the coverage shall be primary and shall not participate with nor shall be excess over any valid and collectable insurance or program of self-insurance carried or maintained by
UNIVERSITY. 
 (d) UNIVERSITY shall notify LICENSEE in writing of any claim or suit brought against UNIVERSITY in respect
of which UNIVERSITY intends to invoke the provisions of this Article. LICENSEE shall keep UNIVERSITY informed on a current basis of its defense of any claims under this Article. 

ARTICLE 9 

USE OF NAMES AND TRADEMARKS 
 9.1 Nothing contained in this Agreement confers any right to use in advertising, publicity, or other promotional activities any name, trade name, trademark, or other designation of either party
hereto (including contraction, abbreviation or simulation of any of the foregoing). Unless required by law, the use by LICENSEE of the name, “The Regents Of The University Of California” or the name of any campus of the University Of
California is prohibited, without the express written consent of UNIVERSITY. 
 9.2 UNIVERSITY may disclose to the
Inventors the terms and conditions of this Agreement upon their request. If such disclosure is made, UNIVERSITY shall request the Inventors not disclose such terms and conditions to others. 

9.3 UNIVERSITY may acknowledge the existence of this Agreement and the extent of the grant in Article 2 to third parties, but
UNIVERSITY shall not disclose the financial terms of this Agreement to third parties, except where UNIVERSITY is required by law to do so, such as under the California Public Records Act. 

9.4 LICENSEE shall be entitled to issue a press release announcing the execution of this Agreement and the general subject matter
hereof, provided that University must consent to the content of such press release, which consent shall not be unreasonably withheld or delayed. 
 ARTICLE 10 
 MISCELLANEOUS PROVISIONS 

10.1 Correspondence. Any notice or payment required to be given to either party under this Agreement shall be deemed to have been
properly given and effective: 
 (a) on the date of delivery if delivered in person, or 

  
 19.

 (b) five (5) days after mailing if mailed by first-class or certified mail,
postage paid, to the respective addresses given below, or to such other address as is designated by written notice given to the other party. 
 If sent to LICENSEE: 
 Genomatica, Inc. 

5405, Morehouse Drive, Suite 210 
 San Diego, CA 92121 
 Attention: Chief Executive Officer 

Phone: (858) 824-1771 Fax: (858) 824-1772 
 If sent to UNIVERSITY: 
 University of California, San Diego 

Technology Transfer & Intellectual Property Services 
 9500 Gilman Drive 
 La Jolla, CA 92093-0910 

Attention: Director 
 Phone: (858) 534-5815 Fax: (858) 534-7345 
 10.2 Secrecy.

 (a) “Confidential Information” shall mean information, including Technology, relating to the
Invention and disclosed by UNIVERSITY to LICENSEE during the term of this Agreement, which if disclosed in writing shall be marked “Confidential”, or if first disclosed otherwise, shall within thirty (30) days of such disclosure be
reduced to writing by UNIVERSITY and sent to LICENSEE: 
 (c) LICENSEE shall: 

(1) use the Confidential Information for the sole purpose of performing under the terms of this Agreement; 

(2) safeguard Confidential Information against disclosure to others with the same degree of care as it exercises with its
own data of a similar nature; 
 (3) not disclose Confidential Information to others (except to its employees,
agents, consultants, Sublicensees, Third Party Partners, distributors or proposed Sublicensees, Third Party Partners or distributors, who are bound to LICENSEE by a like obligation of confidentiality) without the express written permission of
UNIVERSITY, except that LICENSEE shall not be prevented from using or disclosing any of the Confidential Information that: 
 (i) LICENSEE can demonstrate by written records was previously known to it; 

  
 20.

 (ii) is now, or becomes in the future, public knowledge other than through
acts or omissions of LICENSEE; or 
 (iii) is lawfully obtained by LICENSEE from sources independent of
UNIVERSITY; and 
 (d) The secrecy obligations of LICENSEE with respect to Confidential Information shall continue for a
period ending [...***...] from the termination date of this Agreement. 
 10.2 Assignability. This Agreement may be
assigned by UNIVERSITY, but is personal to LICENSEE and assignable by LICENSEE only with the written consent of UNIVERSITY, which consent shall not be unreasonably withheld, except that Licensee can assign this Agreement to its successor without
prior written consent of UNIVERSITY provided that LICENSEE has sold all or substantially all of its business or assets that relate to this Agreement to such successor or in connection with the acquisition of LICENSEE by such successor. 

10.3 No Waiver. No waiver by either party of any breach or default of any covenant or agreement set forth in this Agreement shall
be deemed a waiver as to any subsequent and/or similar breach or default. 
 10.4 Failure to Perform. In the event of a
failure of performance due under this Agreement and if it becomes necessary for either party to undertake legal action against the other on account thereof, then the prevailing party shall be entitled to reasonable attorney’s fees in addition
to costs and necessary disbursements. 
 10.5 Governing Laws. THIS AGREEMENT SHALL BE INTERPRETED AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF CALIFORNIA, but the scope and validity of any patent or patent application shall be governed by the applicable laws of the country of the patent or patent application. 

10.6 Force Majeure. A party to this Agreement may be excused from any performance required herein if such performance is rendered
impossible or unfeasible due to any catastrophe or other major event beyond its reasonable control, including, without limitation, war, riot, and insurrection; laws, proclamations, edicts, ordinances, or regulations; strikes, lockouts, or other
serious labor disputes; and floods, fires, explosions, or other natural disasters. When such events have abated, the non-performing party’s obligations herein shall resume. 

10.7 Headings. The headings of the several sections are inserted for convenience of reference only and are not intended to be a
part of or to affect the meaning or interpretation of this Agreement. 
 10.8 Entire Agreement. This Agreement embodies
the entire understanding of the parties and supersedes all previous communications, representations or understandings, either oral or written, between the parties relating to the subject matter hereof. The parties agree that the Prior Agreement is
terminated as of the Effective Date and is superseded in its entirety by this Agreement. 

  

					
		  	21.	  	***Confidential Treatment Requested

 10.9 Amendments. No amendment or modification of this Agreement shall be valid or
binding on the parties unless made in writing and signed on behalf of each party. 
 10.10 Severability. In the event
that any of the provisions contained in this Agreement is held to be invalid, illegal, or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions of this Agreement, and this Agreement shall
be construed as if the invalid, illegal, or unenforceable provisions had never been contained in it. 
 IN WITNESS WHEREOF, both
UNIVERSITY and LICENSEE have executed this Agreement, in duplicate originals, by their respective and duly authorized officers on the day and year written. 
  

					
			
	GENOMATICA, INC.	  		 	THE REGENTS OF THE UNIVERSITY OF CALIFORNIA:
			
	By: /s/ Thomas A.
Reed                                        
	  		 	By: /s/ Alan S.
Paau                                         
   
	            (Signature)	  		 	            (Signature)
			
	Name: Thomas A. Reed	  		 	Name: Alan S. Paau
			
	Title: Chief Financial Officer	  		 	 Title: Director, Technology Transfer &
           Intellectual Property Services

			
	Date: 12/20/2001	  		 	Date: 12/20/2001

  
 22.

 EXHIBIT A 

STOCK PURCHASE AGREEMENT 

AND 
 RESTATED ARTICLES OF INCORPORATION 

  
  
 GENOMATICA, INC. 
 SERIES
A-1 PREFERRED STOCKHOLDER AGREEMENT 
 December 19, 2001 

 
  
  

 

 TABLE OF CONTENTS 

 

									
	 	 	 	  	 	  	PAGE	 
	article 1 Agreement to Issue and Transfer	  	 	1	  
		 	1.1  	  	 Authorization of Shares.
	  	 	1	  
		 	1.2  	  	 Issuance and Transfer.
	  	 	1	  
	article 2 Closing and Delivery	  	 	2	  
		 	2.1  	  	 Closing.
	  	 	2	  
		 	2.2  	  	 Delivery.
	  	 	2	  
	article 3 Representations And Warranties Of The Company	  	 	2	  
		 	3.1  	  	 Organization, Good Standing and Qualification.
	  	 	2	  
		 	3.2  	  	 Shares Validly Issued.
	  	 	2	  
		 	3.3  	  	 Capitalization; Voting Rights.
	  	 	2	  
		 	3.4  	  	 Authorization; Binding Obligations.
	  	 	3	  
		 	3.5  	  	 Offering Valid.
	  	 	3	  
	article 4 Representations And Warranties Of UCSD	  	 	3	  
		 	4.1  	  	 Requisite Power and Authority.
	  	 	3	  
		 	4.2  	  	 Investment Representations.
	  	 	3	  
		 	4.3  	  	 Transfer Restrictions.
	  	 	4	  
	article 5 Conditions to Closing	  	 	5	  
		 	5.1  	  	 Conditions to UCSD’s Obligations at the Closing.
	  	 	5	  
		 	5.2  	  	 Conditions to Obligations of the Company.
	  	 	5	  
	article 6 Covenants of the Company	  	 	6	  
		 	6.1  	  	 Financial Information.
	  	 	6	  
		 	6.2  	  	 Reservation of Common Stock.
	  	 	6	  
		 	6.3  	  	 Termination of Covenants.
	  	 	6	  
	article 7 Miscellaneous	  	 	7	  
		 	7.1  	  	 Applicable Law, Jurisdiction and Venue.
	  	 	7	  
		 	7.2  	  	 Survival.
	  	 	7	  
		 	7.3  	  	 Successors and Assigns.
	  	 	7	  
		 	7.4  	  	 Entire Agreement.
	  	 	7	  
		 	7.5  	  	 Severability.
	  	 	7	  
		 	7.6  	  	 Amendment and Waiver.
	  	 	7	  
		 	7.7  	  	 Delays or Omissions.
	  	 	7	  
		 	7.8  	  	 Notices.
	  	 	8	  
		 	7.9  	  	 Confidentiality
	  	 	8	  
		 	7.10	  	 Expenses.
	  	 	8	  
		 	7.11	  	 Attorneys’ Fees.
	  	 	8	  
		 	7.12	  	 Titles and Subtitles.
	  	 	9	  
		 	7.13	  	 Counterparts.
	  	 	9	  
		 	7.14	  	 Broker’s Fees.
	  	 	9	  
		 	7.15	  	 Pronouns.
	  	 	9	  
		 	7.16	  	 California Corporate Securities Law.
	  	 	9	  

 TABLE OF CONTENTS 

 

			
	 	  	PAGE
		
	LIST OF EXHIBITS	  	
		
	 Second Amended and Restated Articles of Incorporation
	  	Exhibit A

 GENOMATICA, INC. 

SERIES A-1 PREFERRED STOCKHOLDER AGREEMENT 

THIS SERIES A-1 PREFERRED STOCKHOLDER
AGREEMENT (this “Agreement”) is entered into as of December 19, 2001, by and among GENOMATICA, INC., a California corporation (the “Company”) and THE
REGENTS OF THE UNIVERSITY OF CALIFORNIA (“The Regents”), a California corporation having an address at 1111 Franklin St., 12th Floor, Oakland, CA 94607, represented by its San Diego Campus
(“UCSD”) having an address at Technology Transfer & Intellectual Property Services, 9500 Gilman Drive, La Jolla, CA 92063-0910, and UCSD’s nominee Shellwater & Co. 

RECITALS 
 WHEREAS, the Company and UCSD have entered into a License Agreement dated as of the date hereof (the “License Agreement”) which, among other things,
contemplates the issuance of an aggregate of three hundred fifty thousand (350,000) shares of the Company’s Series A-1 Preferred Stock (the “Shares”); 
 WHEREAS, UCSD desires to receive the Shares on the terms and conditions set forth herein; and 
 WHEREAS, the Company desires to issue and transfer the Shares to UCSD on the terms and conditions set forth herein; 

NOW, THEREFORE, in consideration of the foregoing recitals and the mutual promises
hereinafter set forth, the parties hereto agree as follows: 
 ARTICLE 1 

AGREEMENT TO ISSUE AND TRANSFER 

1.1 Authorization of Shares. On or prior to the Closing (as defined in Section 2 below), the Company shall have authorized
(i) the issuance and transfer to UCSD of the Shares, and (ii) the issuance of such shares of Common Stock to be issued upon conversion of the Shares (the “Conversion Shares”). The Shares and the Conversion Shares shall have the
rights, preferences, privileges and restrictions set forth in the Company’s Second Amended and Restated Articles of Incorporation of the Company, in the form attached hereto as Exhibit A (the “Restated Articles”). 

1.2 Issuance and Transfer. Subject to the terms and conditions hereof and subject to the conditions of the Closing (as hereinafter
defined), the Company hereby agrees to issue and transfer to UCSD and UCSD agrees to receive the Shares from the Company at the Closing. The sole consideration for such Shares shall be the value realized by the Company by reason of UCSD entering
into the License Agreement, which value shall be deemed equal to [...***...] per Share. 

  

					
		  	1.	  	***Confidential Treatment Requested

 ARTICLE 2 
 CLOSING AND DELIVERY 
 2.1
Closing. The closing of the issuance and transfer of Shares under this Agreement (the “Closing”) shall take place at 1:00 p.m. on the date hereof, at the offices of Cooley Godward LLP, 4401 Eastgate Mall, San Diego, California 92121 or
at such other time or place as the Company and UCSD may mutually agree (such date is hereinafter referred to as the “Closing Date”). 
 2.2 Delivery. At the Closing, subject to the terms and conditions hereof, the Company will deliver to UCSD one or more certificates representing the number of Shares to be issued at the Closing to
UCSD, and UCSD shall execute and deliver to the Company the License Agreement as payment of the purchase price therefor. 

ARTICLE 3 

REPRESENTATIONS AND WARRANTIES OF THE COMPANY

 The Company hereby represents and warrants to UCSD as of the date of this Agreement as follows: 

3.1 Organization, Good Standing and Qualification. The Company is a corporation duly organized, validly existing and in good
standing under the laws of the State of California. The Company has all requisite corporate power and authority to own and operate its properties and assets, to execute and deliver this Agreement, to issue and transfer the Shares and the Conversion
Shares, and to carry out the provisions of this Agreement, and to carry on its business as presently conducted and as presently proposed to be conducted. 
 3.2 Shares Validly Issued. When issued in compliance with the provisions of this Agreement and the Restated Articles, the Shares and the Conversion Shares will be validly issued, fully paid and
nonassessable, and will be free of any liens or encumbrances, provided, however, that the Shares and the Conversion Shares may be subject to restrictions on transfer under state and/or federal securities laws as set forth herein or as otherwise
required by such laws at the time a transfer is proposed and under a right of first refusal set forth in the Company’s Bylaws. 
 3.3 Capitalization; Voting Rights. The authorized capital stock of the Company, immediately prior to the Closing, will consist of twenty million (20,000,000) shares of Common Stock, no par
value per share, of which three million three hundred sixty thousand (3,360,000) are outstanding, and ten million (10,000,000)shares of Preferred Stock, no par value per share, three million (3,000,000) of which are designated Series A
Preferred Stock, of which three million (3,000,000) are outstanding, and three hundred fifty thousand (350,000) of which are designated Series A-1 Preferred Stock, none of which are outstanding. The rights, preferences, privileges and
restrictions of the Shares are as stated in the Restated Articles. The Series A Preferred Stock and the Series A-1 Preferred Stock are each convertible into Common Stock on a one-for-one basis subject to adjustment as set forth in the Restated
Articles. The Conversion Shares have been duly and validly reserved for issuance. 

  
 2. 

 3.4 Authorization; Binding Obligations. All corporate action on the part of the
Company, its officers, directors and shareholders necessary for the authorization of this Agreement and the performance of all obligations of the Company hereunder and thereunder at the Closing and the authorization, sale, issuance and delivery of
the Shares and the Conversion Shares pursuant to the Restated Articles has been taken or will be taken prior to the Closing. The Agreement, when executed and delivered, will be valid and binding obligations of the Company enforceable in accordance
with their terms, except (a) as limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws of general application affecting enforcement of creditors’ rights; (b) general principles of equity that restrict
the availability of equitable remedies; and (c) to the extent that the enforceability of any indemnification provisions herein may be limited by applicable laws. The issuance of the Shares and the subsequent conversion of the Shares into
Conversion Shares are not and will not be subject to any preemptive rights or rights of first refusal that have not been properly waived or complied with. 
 3.5 Offering Valid. Assuming the accuracy of the representations and warranties of UCSD contained in Section 4.2 hereof, the offer, issuance and transfer of the Shares and the Conversion
Shares will be exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), and will have been registered or qualified (or are exempt from registration and qualification) under the
registration, permit or qualification requirements of all applicable state securities laws. Neither the Company nor any agent on its behalf has solicited or will solicit any offers to sell or has offered to sell or will offer to sell all or any part
of the Shares to any person or persons so as to bring the sale of such Shares by the Company within the registration provisions of the Securities Act or any state securities laws. 

ARTICLE 4 

REPRESENTATIONS AND WARRANTIES OF UCSD 

UCSD hereby represents and warrants to the Company as follows to be true on and as of the Closing Date: 

4.1 Requisite Power and Authority. UCSD has all necessary power and authority under all applicable provisions of law to execute
and deliver this Agreement and to carry out its provisions. All action on UCSD’s part required for the lawful execution and delivery of this Agreement has been or will be effectively taken prior to the Closing. Upon the execution and delivery
of this Agreement, this Agreement will be a valid and binding obligation of UCSD, enforceable in accordance with its terms, except (a) as limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws of general
application affecting enforcement of creditors’ rights, (b) general principles of equity that restrict the availability of equitable remedies, and (c) to the extent that the enforceability of any indemnification provisions hereof may
be limited by applicable laws. 
 4.2 Investment Representations. UCSD understands that neither the Shares nor the
Conversion Shares have been registered under the Securities Act. UCSD also understands that the Shares are being offered, issued and transfered pursuant to an exemption from registration contained in the Securities Act based in part upon UCSD’s
representations contained in the Agreement. UCSD hereby represents and warrants as follows: 

  
 3. 

 (a) UCSD Bears Economic Risk. UCSD has substantial experience in evaluating and
investing in private placement transactions of securities in companies similar to the Company so that it is capable of evaluating the merits and risks of its investment in the Company and has the capacity to protect its own interests. UCSD must bear
the economic risk of this investment indefinitely unless the Shares and the Conversion Shares are registered pursuant to the Securities Act, or an exemption from registration is available. UCSD understands that the Company has no present intention
of registering the Shares and the Conversion Shares or any shares of its Common Stock. UCSD also understands that there is no assurance that any exemption from registration under the Securities Act will be available and that, even if available, such
exemption may not allow UCSD to transfer all or any portion of the Shares and the Conversion Shares under the circumstances, in the amounts or at the times UCSD might propose. 
 (b) Acquisition for Own Account. UCSD is acquiring the Shares and the Conversion Shares for UCSD’s own account for investment only, and not with a view towards their distribution except for
The Regents transferring an inventor share portion of the Shares to The Regents’ inventors of the patent rights licensed to Company under its license as inventor share as provided for in The Regents Patent Policy; provided, however, that such
transfers must be effected in compliance with applicable securities laws and under the terms of this Agreement. 
 (c) UCSD
Can Protect Its Interest. UCSD represents that by reason of its (or of its management’s or administration’s) business or financial experience, UCSD has the capacity to protect its own interests in connection with the transactions
contemplated in this Agreement. Further, the undersigned on behalf of UCSD is aware of no publication of any advertisement in connection with the transactions contemplated in the Agreement. 

(d) Accredited Investor. UCSD represents that it is an accredited investor within the meaning of Regulation D under the Securities
Act as The Regents are a 501(c)(3) corporation and it has assets in excess of five million dollars ($5,000,000). 
 (e) Rule
144. UCSD acknowledges and agrees that the Shares, and, if issued, the Conversion Shares must be held indefinitely unless they are subsequently registered under the Securities Act or an exemption from such registration is available. UCSD has
been advised or is aware of the provisions of Rule 144 promulgated under the Securities Act as in effect from time to time, which permits limited resale of shares purchased in a private placement subject to the satisfaction of certain conditions,
including, among other things: the availability of certain current public information about the Company, the resale occurring following the required holding period under Rule 144 and the number of shares being sold during any three-month period not
exceeding specified limitations. 
 (f) Residence. The office or offices of UCSD in which its investment decision was
made is located at the address or addresses of UCSD set forth on the signature page hereto. 
 4.3 Transfer Restrictions.
UCSD acknowledges and agrees that the Shares and, if issued, the Conversion Shares are subject to restrictions on transfer as set forth herein and a right of first refusal set forth in the Company’s Bylaws. 

  
 4. 

 ARTICLE 5 
 CONDITIONS TO CLOSING 
 5.1
Conditions to UCSD’s Obligations at the Closing. UCSD’s obligations to agree to receive in lieu of partial license issue fees the Shares at the Closing are subject to the satisfaction, at or prior to the Closing Date, of the following
conditions: 
 (a) Representations and Warranties True; Performance of Obligations. The representations and warranties
made by the Company in Section 3 hereof shall be true and correct in all material respects as of the Closing Date with the same force and effect as if they had been made as of the Closing Date. As of the Closing Date, the Company shall have
performed all obligations and conditions herein required to be performed or observed by it on or prior to the Closing. 
 (b)
Legal Investment. On the Closing Date, the issuance and transfer of the Shares and the proposed issuance of the Conversion Shares shall be legally permitted by all laws and regulations to which UCSD and the Company are subject. 

(c) Consents, Permits, and Waivers. The Company shall have obtained any and all consents, permits and waivers necessary or
appropriate for consummation of the transactions contemplated by this Agreement (except for such as may be properly obtained subsequent to the Closing). 
 (d) Filing of Restated Articles. The Restated Articles shall have been filed with and accepted by the Secretary of State of the State of California. 

(e) Corporate Documents. The Company shall have delivered to UCSD or its counsel, copies of all corporate documents of the Company
as UCSD shall reasonably request. 
 (f) Reservation of Conversion Shares. The Conversion Shares issuable upon conversion
of the Shares have been duly authorized and reserved for issuance upon such conversion. 
 (g) Proceedings and Documents.
All corporate and other proceedings in connection with the transactions contemplated at the Closing hereby and all documents and instruments incident to such transactions shall be reasonably satisfactory in substance and form to UCSD and its
counsel, and UCSD and its counsel shall have received all such counterpart originals or certified or other copies of such documents as they may reasonably request. 
 5.2 Conditions to Obligations of the Company. The Company’s obligation to issue and transfer the Shares at the Closing is subject to the satisfaction, on or prior to the Closing, of the
following conditions: 
 (a) Representations and Warranties True. The representations and warranties made by UCSD in
Section 4 hereof shall be true and correct in all material respects at 

  
 5. 

 
the date of the Closing, with the same force and effect as if they had been made on and as of said date. 
 (b) Performance of Obligations. UCSD shall have performed and complied with all agreements and conditions herein required to be performed or complied with by such UCSD on or before the Closing.

 (c) Filing of Restated Articles. The Restated Articles shall have been filed with and accepted by the Secretary of
State of the State of California. 
 (d) Consents, Permits, and Waivers. The Company shall have obtained any and all
consents, permits and waivers necessary or appropriate for consummation of the transactions contemplated by the Agreement (except for such as may be properly obtained subsequent to the Closing). 

ARTICLE 6 

COVENANTS OF THE COMPANY 

6.1 Financial Information. As soon as practicable after the end of each fiscal year of the Company, and in any event within one
hundred twenty (120) days thereafter, the Company will furnish UCSD a balance sheet of the Company, as at the end of such fiscal year, and a statement of operations and a statement of cash flows of the Company, for such year, all prepared in
accordance with generally accepted accounting principles consistently applied and setting forth in each case in comparative form the figures for the previous fiscal year, all in reasonable detail. 

6.2 Reservation of Common Stock. The Company will at all times reserve and keep available, solely for issuance and delivery upon
the conversion of the Shares, all Common Stock issuable from time to time upon such conversion. 
 6.3 Termination of
Covenants. All covenants of the Company contained in Sections 6.1 and 6.2 of this Agreement shall expire and terminate as to UCSD upon the earlier of (i) the effective date of the registration statement pertaining to the Company’s
first firm commitment underwritten public offering of its Common Stock registered under the Securities Act, (ii) upon (a) the acquisition of all or substantially all of the assets of the Company or (b) an acquisition of the Company by
another corporation or entity by consolidation, merger or other reorganization in which the holders of the Company’s outstanding voting stock immediately prior to such transaction own, immediately after such transaction, securities representing
less than fifty percent (50%) of the voting power of the corporation or other entity surviving such transaction, or (iii) at such time that UCSD (or its permitted assignee) no longer holds any shares of Preferred Stock or Common Stock
issued upon conversion of Preferred Stock. 

  
 6. 

 ARTICLE 7 
 MISCELLANEOUS 
 7.1 Applicable Law, Jurisdiction and
Venue. This Agreement shall be governed by and construed in accordance with the laws of the state of California without reference to conflict of laws principles. Any disputes under this Agreement shall be subject to the exclusive jurisdiction
and venue of the California state courts located in San Diego County, California, and the parties hereby consent to the personal and exclusive jurisdiction and venue of these courts. 

7.2 Survival. The representations, warranties, covenants and agreements made herein shall survive any investigation made by UCSD
and the closing of the transactions contemplated hereby. All statements as to factual matters contained in any certificate or other instrument delivered by or on behalf of the Company pursuant hereto in connection with the transactions contemplated
hereby shall be deemed to be representations and warranties by the Company hereunder solely as of the date of such certificate or instrument. 
 7.3 Successors and Assigns. Except as otherwise expressly provided herein, the provisions hereof shall inure to the benefit of, and be binding upon, the successors, assigns, heirs, executors and
administrators of the parties hereto and shall inure to the benefit of and be enforceable by each person who shall be a holder of the Shares from time to time. 
 7.4 Entire Agreement. This Agreement, the Exhibits and Schedules hereto and the other documents delivered pursuant hereto constitute the full and entire understanding and agreement between the
parties with regard to the subjects hereof and no party shall be liable or bound to any other in any manner by any representations, warranties, covenants and agreements except as specifically set forth herein and therein. 

7.5 Severability. In case any provision of the Agreement shall be invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 7.6 Amendment and
Waiver. 
 (a) This Agreement may be amended or modified only upon the written consent of the Company and holders of
at least fifty percent (50%) of the Shares (treated as if converted and including any Conversion Shares into which the Shares have been converted that have not been sold to the public). 

(b) The obligations of the Company and the rights of the holders of the Shares and the Conversion Shares under this Agreement may
be waived only with the written consent of the holders of at least fifty percent (50%) of the Shares (treated as if converted and including any Conversion Shares into which the Shares have been converted that have not been sold to the public).

 7.7 Delays or Omissions. It is agreed that no delay or omission to exercise any right, power or remedy accruing to any
party, upon any breach, default or noncompliance by any party under this Agreement or the Restated Articles, shall impair any such right, power or remedy, nor 

  
 7. 

 
shall it be construed to be a waiver of any such breach, default or noncompliance, or any acquiescence therein, or of or in any similar breach, default or noncompliance thereafter occurring. It
is further agreed that any waiver, permit, consent or approval of any kind or character on UCSD’s part of any breach, default or noncompliance under this Agreement, or under the Restated Articles or any waiver on such party’s part of any
provisions or conditions of the Agreement or the Restated Articles must be in writing and shall be effective only to the extent specifically set forth in such writing. All remedies, either under this Agreement, the Restated Articles, the Bylaws, or
otherwise afforded to any party, shall be cumulative and not alternative. 
 7.8 Notices. All notices required or
permitted hereunder shall be in writing and shall be deemed effectively given: (a) upon personal delivery to the party to be notified; (b) when sent by confirmed telex or facsimile if sent during normal business hours of the recipient, if
not, then on the next business day; (c) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid; or (d) one (1) day after deposit with a nationally recognized overnight
courier, specifying next day delivery, with written verification of receipt. All communications shall be sent to the Company at the address as set forth on the signature page hereof and to UCSD at the address set forth on the signature page hereof
attached hereto or at such other address as the Company or UCSD may designate by ten (10) days advance written notice to the other parties hereto. 
 7.9 Confidentiality. UCSD agrees that, except with the prior written consent of the Company, it shall at all times keep confidential and not divulge, furnish or make accessible to anyone (other
than its counsel or professional advisors who are under an obligation of confidentiality) any confidential information concerning or relating to the business or financial affairs of the Company to which UCSD has been or shall become privy by reason
of this Agreement, discussions or negotiations relating to this Agreement, the performance of its obligations hereunder or the ownership of the Shares purchased hereunder. The provisions of this Section 7.9 shall not apply to information which
UCSD can demonstrate by competent written proof: (a) is now, or hereafter becomes, through no act or failure to act on the part of UCSD, generally known or available; (b) is known by UCSD at the time of receiving such information, as
evidenced by its written records; (c) is hereafter furnished to UCSD by a third party, as a matter of right and without restriction on disclosure; or (d) is independently developed by UCSD, as evidenced by its records, without knowledge
of, and without the aid, application or use of, the Company’s confidential information. In addition, the provisions of this Section 7.9 shall not apply to the extent that disclosure of confidential information is compelled by law, rule,
regulation or court order. The provisions of this Section 7.9 shall be in addition to, and not in substitution for, the provisions of any separate nondisclosure agreement executed by the parties hereto. 

7.10 Expenses. Each party shall pay all costs and expenses that it incurs with respect to the negotiation, execution, delivery and
performance of the Agreement. 
 7.11 Attorneys’ Fees. In the event that any dispute among the parties to this
Agreement should result in litigation, the prevailing party in such dispute shall be entitled to recover from the losing party all fees, costs and expenses of enforcing any right of such prevailing party under or with respect to this Agreement,
including without limitation, such 

  
 8. 

 
reasonable fees and expenses of attorneys and accountants, which shall include, without limitation, all fees, costs and expenses of appeals. 

7.12 Titles and Subtitles. The titles of the sections and subsections of the Agreement are for convenience of reference only and
are not to be considered in construing this Agreement. 
 7.13 Counterparts. This Agreement may be executed in any number
of counterparts, each of which shall be an original, but all of which together shall constitute one instrument. 
 7.14
Broker’s Fees. Each party hereto represents and warrants that, no agent, broker, investment banker, person or firm acting on behalf of or under the authority of such party hereto is or will be entitled to any broker’s or finder’s
fee or any other commission directly or indirectly in connection with the transactions contemplated herein. Each party hereto further agrees to indemnify each other party for any claims, losses or expenses incurred by such other party as a result of
its representation in this Section 7.14 being untrue. 
 7.15 Pronouns. All pronouns contained herein, and any
variations thereof, shall be deemed to refer to the masculine, feminine or neutral, singular or plural, as to the identity of the parties hereto may require. 
 7.16 California Corporate Securities Law. The issuance of the securities which are the subject of this agreement has not been qualified with the commissioner of corporations of the state of
california and the issuance of such securities or the payment or receipt of any part of the consideration therefor prior to such qualification or in the absence of an exemption from such qualification is unlawful. Prior to acceptance of such
consideration by the company, the rights of all parties to this agreement are expressly conditioned upon such qualification being obtained or an exemption from such qualification being available. 

In Witness Whereof, the parties hereto have executed the Series A-1 Preferred Stockholder Agreement as of the date set
forth in the first paragraph hereof. 
  

							
	COMPANY:	  	STOCKHOLDER:
		
	GENOMATICA, INC.	  	SHELLWATER & CO. AS NOMINEE FOR THE REGENTS OF THE UNIVERSITY OF CALIFORNIA
				
	By:	 	  
	  	 	 	 
		 	Thomas A. Reed	  	By:	 	  

		 	Vice President Finance	  	Title:	 	  

		 	and Corporate Development	  		 	
		 		  	Address:
	Address:	  	The Treasurer of The Regents
	5405 Morehouse Drive, Suite 210	  	University of California
	San Diego, CA 92121	  	1111 Broadway, 14th Floor
		  	Oakland, CA 94607-5200

  
 9. 

 SECOND AMENDED AND RESTATED ARTICLES OF INCORPORATION 

OF 

GENOMATICA, INC. 
 Bernhard O. Palsson hereby certifies that: 
 ONE: He is the duly elected
and acting President and Secretary of Genomatica, Inc., a California corporation (the “Corporation”). 
 TWO:
The Articles of Incorporation of this Corporation, originally filed November 23, 1998, amended on May 4, 2000, amended and restated on March 15, 2001, and amended and restated on April 24, 2001 are hereby amended and restated
to read as follows: 
 I. 
 The name of the Corporation is GENOMATICA, INC. 
 II. 
 The purpose of the Corporation is to engage in any lawful act or
activity for which a corporation may be organized under the General Corporation Law of California other than the banking business, the trust company business or the practice of a profession permitted to be incorporated by the California Corporations
Code. 
 III. 
 A. This Corporation is authorized to issue two classes of stock to be designated, respectively, “Common Stock” and “Preferred Stock.” The total number of shares which the
Corporation is authorized to issue is thirty million (30,000,000) shares, twenty million (20,000,000) shares of which shall be Common Stock (the “Common Stock”) and ten million (10,000,000) shares of which shall be Preferred
Stock (the “Preferred Stock”). 
 B. The Preferred Stock may be issued from time to time in one or more series.
The Board of Directors is hereby authorized, within the limitations and restrictions stated in these Second Amended and Restated Articles of Incorporation, to fix or alter the dividend rights, dividend rate, conversion rights, voting rights, rights
and terms of redemption (including sinking fund provisions), the redemption price or prices, the liquidation preferences of any wholly unissued series of Preferred Stock, and the number of shares constituting any such series and the designation
thereof, or any of them; and to increase or decrease the number of shares of any series subsequent to the issue of shares of that series, but not below the number of shares of such series then outstanding. In case the number of shares of any series
shall be so decreased, the shares constituting such decrease shall resume the status which they had prior to the adoption of the resolution originally fixing the number of shares of such series. 

C. Three million (3,000,000) of the authorized shares of Preferred Stock are hereby designated “Series A Preferred
Stock” (the “Series A Preferred Stock”). Three hundred fifty 

  
 1. 

 
thousand (350,000) of the authorized shares of Preferred Stock are hereby designated “Series A-1 Preferred Stock” (the “Series A-1 Preferred Stock” and, collectively with
the Series A Preferred Stock, the “Series Preferred”). 
 D. The rights, preferences, privileges, restrictions
and other matters relating to the Series Preferred are as follows: 
 1. Dividend Rights. 

a. Holders of Series Preferred, in preference to the holders of any other stock of the Corporation (“Junior Stock”),
shall be entitled to receive, if, when and as declared by the Board of Directors, but only out of funds that are legally available therefor, cash dividends at the rate of eight percent (8%) of the applicable “Original Issue Price” per
annum on each outstanding share of Series Preferred (as adjusted for any stock dividends, combinations, splits recapitalizations and the like with respect to such shares). The Original Issue Price of the Series A Preferred Stock shall be one dollar
($1.00) per share (the “Series A Original Issue Price”). The Original Issue Price of the Series A-1 Preferred Stock shall be one dollar ($1.00) per share (the “Series A-1 Original Issue Price”). Such dividends shall be
payable only when, as and if declared by the Board of Directors and shall be non-cumulative. 
 b. So long as any shares
of Series Preferred shall be outstanding, no dividend, whether in cash or property, shall be paid or declared, nor shall any other distribution be made, on any Junior Stock, nor shall any shares of any Junior Stock of the Corporation be purchased,
redeemed, or otherwise acquired for value by the Corporation (except for acquisitions of Common Stock by the Corporation pursuant to agreements which permit the Corporation to repurchase such shares upon termination of services to the Corporation or
in exercise of the Corporation’s right of first refusal upon a proposed transfer) until all dividends (set forth in Section 1(a) above) on the Series Preferred shall have been paid or declared and set apart. The provisions of this
Section 1(b) shall not, however, apply to (i) a dividend payable in Common Stock, (ii) the acquisition of shares of any Junior Stock in exchange for shares of any other Junior Stock, or (iii) any repurchase of any outstanding
securities of the Corporation that is unanimously approved by the Corporation’s Board of Directors. The holders of the Series Preferred expressly waive their rights, if any, as described in California Corporations Code Sections 502, 503 and 506
as they relate to repurchase of shares upon termination of employment. 
 2. Voting Rights. Except as otherwise provided
herein or as required by law, the Series Preferred shall be voted equally with the shares of the Common Stock of the Corporation and not as a separate class, at any annual or special meeting of shareholders of the Corporation, and may act by written
consent in the same manner as the Common Stock, in either case upon the following basis: each holder of shares of Series Preferred shall be entitled to such number of votes as shall be equal to the whole number of shares of Common Stock into which
such holder’s aggregate number of shares of Series Preferred are convertible (pursuant to Section 4 hereof) immediately after the close of business on the record date fixed for such meeting or the effective date of such written consent.

  
 2. 

 3. Liquidation Rights. 

a. Upon any liquidation, dissolution, or winding up of the Corporation, whether voluntary or involuntary, before any distribution
or payment shall be made to the holders of Series A-1 Preferred Stock or holders of any Junior Stock, the holders of Series A Preferred Stock shall be entitled to be paid out of the assets of the Corporation an amount per share of Series A Preferred
Stock equal to the Series A Original Issue Price plus all declared and unpaid dividends on such shares (as adjusted for any stock dividends, combinations, splits, recapitalizations and the like with respect to such shares) for each share of
Series A Preferred Stock held by them. If, upon any liquidation, distribution, or winding up, the assets of the Corporation shall be insufficient to make payment in full to all holders of Series A Preferred Stock of the liquidation preference set
forth above, then such assets shall be distributed among the holders of Series A Preferred Stock at the time outstanding, ratably in proportion to the full amounts to which they would otherwise be respectively entitled. 

b. After the payment of the full liquidation preference of the Series A Preferred Stock as set forth in Section 3(a) above,
and before any distribution or payment shall be made to the holders of any Junior Stock, the holders of Series A-1 Preferred Stock shall be entitled to be paid out of the assets of the Corporation an amount per share of Series A-1 Preferred Stock
equal to the Series A-1 Original Issue Price plus all declared and unpaid dividends on such shares (as adjusted for any stock dividends, combinations, splits, recapitalizations and the like with respect to such shares) for each share of Series
A-1 Preferred Stock held by them. If, upon any liquidation, distribution, or winding up, after payment of the full liquidation preference of the Series A Preferred Stock as set forth in Section 3(a) above the assets of the Corporation shall be
insufficient to make payment in full to all holders of Series A-1 Preferred Stock of the liquidation preference set forth above, then such assets shall be distributed among the holders of Series A-1 Preferred Stock at the time outstanding, ratably
in proportion to the full amounts to which they would otherwise be respectively entitled. 
 c. After the payment of the
full liquidation preference of the Series A Preferred Stock as set forth in Section 3(a) above and payment of the full liquidation preference of the Series A-1 Preferred Stock as set forth in Section 3(b) above, the assets of the
Corporation legally available for distribution, if any, shall be distributed ratably to the holders of the Common Stock and Series A Preferred Stock on an as-if-converted to Common Stock basis until such time as the holders of Series A Preferred
Stock have received pursuant to Section 3(a) above and this Section 3(b) an aggregate amount per share of Series A Preferred Stock equal to two (2) times the Series A Original Issue Price (as adjusted for any stock dividends,
combinations, splits, recapitalizations and the like with respect to the Series Preferred). The remaining assets of the Corporation legally available for distribution, if any, shall be distributed ratably to the holders of Common Stock. 

d. A consolidation or merger of the Corporation with or into any other corporation or other entity or person, or any other
corporate reorganization, or a sale, lease or other disposition of all or substantially all of the assets of the Corporation shall not be deemed to be a liquidation, dissolution or winding up within the meaning of this Section 3. 

  
 3. 

 e. If any of the assets of the Corporation are to be distributed other than in cash
under this Section 3 or for any purpose, then the Board of Directors of the Corporation shall promptly engage independent competent appraisers to determine the value of the assets to be distributed to the holders of Series Preferred or Common
Stock. The Corporation shall, upon receipt of such appraiser’s valuation, give prompt written notice to each holder of shares of Series Preferred or Common Stock of the appraiser’s valuation. 

4. Conversion Rights. 

The holders of the Series Preferred shall have the following rights with respect to the conversion of the Series Preferred into shares of Common Stock
(the “Conversion Rights”): 
 a. Optional Conversion. Subject to and in compliance with the provisions of this
Section 4, each share of Series Preferred may, at the option of the holder, be converted at any time into such number of fully-paid and nonassessable shares of Common Stock as is determined (i) as to the Series A Preferred Stock, by
dividing $1.00 by the then effective Conversion Price for the Series A Preferred Stock, and (ii) as to the Series A-1 Preferred Stock, by dividing $1.00 by the then effective Conversion Price for the Series A-1 Preferred Stock (in each case as
last adjusted and then currently in effect, referred to as the “Conversion Price”). The Conversion Price per share at which shares of Common Stock shall initially be issuable (the “Initial Conversion Price”) upon conversion of
the Series Preferred shall be $1.00 with respect to the Series A Preferred Stock and $1.00 with respect to the Series A-1 Preferred Stock; provided, however, that such Conversion Price shall be subject to adjustment at any time and from time to time
after the date upon which the first share of Series A-1 Preferred Stock is issued (the “Original Issue Date”). 

b. Mechanics of Conversion. Each holder of Series Preferred who desires to convert the same into shares of Common Stock pursuant
to this Section 4 shall surrender the certificate or certificates therefor, duly endorsed, at the office of the Corporation or any transfer agent for the Series Preferred, and shall give written notice to the Corporation at such office that
such holder elects to convert the same. Such notice shall state the number of shares of Series Preferred being converted. Thereupon, the Corporation shall promptly issue and deliver at such office to such holder a certificate or certificates for the
number of shares of Common Stock to which such holder is entitled and shall promptly pay in cash or, to the extent sufficient funds are not then legally available therefor, in Common Stock (at the Common Stock’s fair market value determined by
the Board of Directors as of the date of such conversion), any declared and unpaid dividends on the shares of Series Preferred being converted. Such conversion shall be deemed to have been made at the close of business on the date of such surrender
of the certificates representing the shares of Series Preferred to be converted, and the person entitled to receive the shares of Common Stock issuable upon such conversion shall be treated for all purposes as the record holder of such shares of
Common Stock on such date. 
 c. Adjustment for Stock Splits and Combinations. If the Corporation shall at any time or
from time to time after the Original Issue Date effect a subdivision of the outstanding Common Stock without a corresponding subdivision of the 

  
 4. 

 
Preferred Stock, the Conversion Price with respect to each series of Preferred Stock in effect immediately before that subdivision shall be proportionately decreased. Conversely, if the
Corporation shall at any time or from time to time after the Original Issue Date combine the outstanding shares of Common Stock into a smaller number of shares without a corresponding combination of the Preferred Stock, the Conversion Price with
respect to each series of Preferred Stock in effect immediately before the combination shall be proportionately increased. Any adjustment under this Section 4(c) shall become effective at the close of business on the date the subdivision or
combination becomes effective. 
 d. Adjustment for Common Stock Dividends and Distributions. If the Corporation at any
time or from time to time after the Original Issue Date makes, or fixes a record date for the determination of holders of Common Stock entitled to receive, a dividend or other distribution payable in additional shares of Common Stock, in each such
event the Conversion Price with respect to each series of Preferred Stock that is then in effect shall be decreased as of the time of such issuance or, in the event such record date is fixed, as of the close of business on such record date, by
multiplying the Conversion Price with respect to each series of Preferred Stock then in effect by a fraction (i) the numerator of which is the total number of shares of Common Stock issued and outstanding immediately prior to the time of such
issuance or the close of business on such record date, and (ii) the denominator of which is the total number of shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record
date plus the number of shares of Common Stock issuable in payment of such dividend or distribution; provided, however, that if such record date is fixed and such dividend is not fully paid or if such distribution is not fully made on the date fixed
therefor, the Conversion Price with respect to each series of Preferred Stock shall be recomputed accordingly as of the close of business on such record date and thereafter the Conversion Price with respect to each series of Preferred Stock shall be
adjusted pursuant to this Section 4(d) to reflect the actual payment of such dividend or distribution. 
 e. Adjustment
for Reclassification, Exchange and Substitution. If at any time or from time to time after the Original Issue Date, the Common Stock issuable upon the conversion of the Series Preferred is changed into the same or a different number of shares of
any class or classes of stock, whether by recapitalization, reclassification or otherwise (other than as a result of a subdivision or combination of shares or stock dividend or a reorganization, merger or consolidation in which the Corporation is
the continuing entity and which does not result in any change in the Common Stock) in any such event the Series Preferred shall be convertible into the kind and amount of stock and other securities and property receivable upon such recapitalization,
reclassification or other change by holders of the maximum number of shares of Common Stock into which such shares of Series Preferred could have been converted immediately prior to such recapitalization, reclassification or change, all subject to
further adjustment as provided herein or with respect to such other securities or property by the terms thereof. 
 f.
Reorganizations, Mergers, Consolidations or Sales of Assets. If at any time or from time to time after the Original Issue Date, there is a capital reorganization of the Common Stock (other than a recapitalization, subdivision, combination,
reclassification, exchange or substitution of shares), as a part of such capital reorganization, provision shall be 

  
 5. 

 
made so that the holders of the Series Preferred shall thereafter be entitled to receive upon conversion of the Series Preferred the number of shares of stock or other securities or property of
the Corporation to which a holder of the number of shares of Common Stock deliverable upon conversion would have been entitled on such capital reorganization, subject to adjustment in respect of such stock or securities by the terms thereof. In any
such case, appropriate adjustment shall be made in the application of the provisions of this Section 4 with respect to the rights of the holders of Series Preferred after the capital reorganization to the end that the provisions of this
Section 4 (including adjustment of the Conversion Price with respect to each series of Preferred Stock then in effect and the number of shares issuable upon conversion of the Series Preferred) shall be applicable after that event and be as
nearly equivalent as practicable. 
 g. Sale of Shares Below Series Preferred Conversion Price. 

(i) If at any time or from time to time after the Original Issue Date, the Corporation issues or sells, or is deemed by the
express provisions of this subsection (g) to have issued or sold, Additional Shares of Common Stock (as defined in subsection (g)(iv) below)), other than as a dividend or other distribution on any class of stock as provided in Section 4(d)
above, and other than a subdivision or combination of shares of Common Stock as provided in Section 4(c) above, for an Effective Price (as defined in subsection (g)(iv) below) less than the Conversion Price with respect to any series of
Preferred Stock then in effect, then and in each such case, such Conversion Price shall be reduced, as of the opening of business on the date of such issue or sale, to a price determined by multiplying such Conversion Price by a fraction
(x) the numerator of which shall be (A) the number of shares of Common Stock deemed outstanding (as defined below) immediately prior to such issue or sale, plus (B) the number of shares of Common Stock which the aggregate
consideration received (as defined in subsection (g)(ii)) by the Corporation for the total number of Additional Shares of Common Stock so issued would purchase at such Conversion Price, and (y) the denominator of which shall be the number of
shares of Common Stock deemed outstanding (as defined below) immediately prior to such issue or sale plus the total number of Additional Shares of Common Stock so issued. For the purposes of the preceding sentence, the number of shares of Common
Stock deemed to be outstanding as of a given date shall be the sum of (A) the number of shares of Common Stock actually outstanding, (B) the number of shares of Common Stock into which the then outstanding shares of Series Preferred could
be converted if fully converted on the day immediately preceding the given date, and (C) the number of shares of Common Stock which could be obtained through the exercise or conversion of all other rights, options and convertible securities
outstanding or exercisable on the day immediately preceding the given date. 
 (ii) For the purpose of making any
adjustment required under this Section 4(g), the consideration received by the Corporation for any issue or sale of securities shall (A) to the extent it consists of cash, be computed at the net amount of cash received by the Corporation
after deduction of any underwriting or similar commissions, compensation or concessions paid or allowed by the Corporation in connection with such issue or sale but without deduction of any expenses payable by the Corporation, (B) to the extent
it consists of property other than cash, be computed at the fair value of that property as determined in good faith by the Board of Directors, and (C) if Additional Shares of Common Stock, Convertible Securities (as

  
 6. 

 
defined in subsection (g)(iii) below) or rights or options to purchase either Additional Shares of Common Stock or Convertible Securities are issued or sold together with other stock or
securities or other assets of the Corporation for a consideration which covers both, be computed as the portion of the consideration so received that may be reasonably determined in good faith by the Board of Directors to be allocable to such
Additional Shares of Common Stock, Convertible Securities or rights or options. 
 (iii) For the purpose of the
adjustment required under this Section 4(g), if the Corporation issues or sells any (i) stock or other securities convertible into, Additional Shares of Common Stock (such convertible stock or securities being herein referred to as
“Convertible Securities”) or (ii) rights or options for the purchase of Additional Shares of Common Stock or Convertible Securities and if the Effective Price of such Additional Shares of Common Stock is less than the Conversion Price
with respect to any series of Preferred Stock then in effect, in each case the Corporation shall be deemed to have issued at the time of the issuance of such rights or options or Convertible Securities the maximum number of Additional Shares of
Common Stock issuable upon exercise or conversion thereof and to have received as consideration for the issuance of such shares an amount equal to the total amount of the consideration, if any, received by the Corporation for the issuance of such
rights or options or Convertible Securities, plus, in the case of such rights or options, the minimum amounts of consideration, if any, payable to the Corporation upon the exercise of such rights or options, plus, in the case of Convertible
Securities, the minimum amounts of consideration, if any, payable to the Corporation (other than by cancellation of liabilities or obligations evidenced by such Convertible Securities) upon the conversion thereof; provided that if in the case of
Convertible Securities the minimum amounts of such consideration cannot be ascertained, but are a function of antidilution or similar protective clauses, the Corporation shall be deemed to have received the minimum amounts of consideration without
reference to such clauses; provided further that if the minimum amount of consideration payable to the Corporation upon the exercise or conversion of rights, options or Convertible Securities is reduced over time or on the occurrence or
non-occurrence of specified events other than by reason of antidilution adjustments, the Effective Price shall be recalculated using the figure to which such minimum amount of consideration is reduced; provided further that if the minimum amount of
consideration payable to the Corporation upon the exercise or conversion of such rights, options or Convertible Securities is subsequently increased, the Effective Price shall be again recalculated using the increased minimum amount of consideration
payable to the Corporation upon the exercise or conversion of such rights, options or Convertible Securities. No further adjustment of such Conversion Price, as adjusted upon the issuance of such rights, options or Convertible Securities, shall be
made as a result of the actual issuance of Additional Shares of Common Stock on the exercise of any such rights or options or the conversion of any such Convertible Securities. If any such rights or options or the conversion privilege represented by
any such Convertible Securities shall expire without having been exercised, such Conversion Price as adjusted upon the issuance of such rights, options or Convertible Securities shall be readjusted to the Conversion Price which would have been in
effect had an adjustment been made on the basis that the only Additional Shares of Common Stock so issued were the Additional Shares of Common Stock, if any, actually issued or sold on the exercise of such rights or options or rights of conversion
of such Convertible Securities, and such Additional Shares of Common Stock, if any, were issued or sold for the consideration actually received by the 

  
 7. 

 
Corporation upon such exercise, plus the consideration, if any, actually received by the Corporation for the granting of all such rights or options, whether or not exercised, plus the
consideration received for issuing or selling the Convertible Securities actually converted, plus the consideration, if any, actually received by the Corporation (other than by cancellation of liabilities or obligations evidenced by such Convertible
Securities) on the conversion of such Convertible Securities; provided that such readjustment shall not apply to prior conversions of Series Preferred. 
 (iv) “Additional Shares of Common Stock” shall mean all shares of Common Stock issued by the Corporation or deemed to be issued pursuant to this Section 4(g), whether or not
subsequently reacquired or retired by the Corporation other than (A) shares of Common Stock issued upon conversion of the Series Preferred; (B) shares of Common Stock and/or options, warrants or other Common Stock purchase rights and the
Common Stock issued pursuant to such options, warrant or other rights (as adjusted for any stock dividends, combinations, splits, recapitalizations and the like) issued or granted after the Original Issue Date to employees, officers or directors of,
or consultants or advisors to the Corporation or any subsidiary pursuant to stock purchase or stock option plans or other arrangements that are approved by the Board; (C) shares of Common Stock issued pursuant to the exercise of options,
warrants or convertible securities outstanding as of the Original Issue Date; (D) shares of Common Stock issued for consideration other than cash pursuant to a merger, consolidation, acquisition or similar business combination; (E) shares
of Common Stock issued pursuant to any equipment leasing arrangement, or debt financing from a bank or similar financial institution; (F) shares of Common Stock, Preferred Stock, options, warrants or other equity securities issued in connection
with strategic transactions involving the Corporation and other entities, including (x) joint venture, manufacturing, marketing or distribution arrangements and (y) technology transfer, collaboration, licensing or development arrangements;
provided that such strategic transactions and the related issuance of equity securities have been approved by the Board; and (G) options issued pursuant to any plan or other arrangement approved by the Board (as well as any shares issued upon
exercise thereof). The “Effective Price” of Additional Shares of Common Stock shall mean the quotient determined by dividing the total number of Additional Shares of Common Stock issued or sold, or deemed to have been issued or sold by the
Corporation under this Section 4(g), into the aggregate consideration received, or deemed to have been received by the Corporation for such issue under this Section 4(g), for such Additional Shares of Common Stock. 

h. Certificate of Adjustment. 
 (i) In each case of an adjustment or readjustment of the Conversion Price with respect to the Series A Preferred Stock for the number of shares of Common Stock or other securities issuable
upon conversion of the Series A Preferred Stock, if the Series A Preferred Stock is then convertible pursuant to this Section 4, the Corporation, at its expense, shall compute such adjustment or readjustment in accordance with the provisions
hereof and prepare a certificate showing such adjustment or readjustment, and shall mail such certificate, by first class mail, postage prepaid, to each registered holder of Series A Preferred Stock at the holder’s address as shown in the
Corporation’s books. The certificate shall set forth such adjustment or readjustment, showing in detail the facts upon which such adjustment or 

  
 8. 

 
readjustment is based, including a statement of (i) the consideration received or deemed to be received by the Corporation for any Additional Shares of Common Stock issued or sold or deemed
to have been issued or sold, (ii) the Conversion Price with respect to the Series A Preferred Stock then in effect, (iii) the number of Additional Shares of Common Stock and (iv) the type and amount, if any, of other property
which at the time would be received upon conversion of the Series A Preferred Stock. 
 (ii) In each case of an
adjustment or readjustment of the Conversion Price with respect to the Series A-1 Preferred Stock for the number of shares of Common Stock or other securities issuable upon conversion of the Series A-1 Preferred Stock, if the Series A-1
Preferred Stock is then convertible pursuant to this Section 4, the Corporation, at its expense, shall compute such adjustment or readjustment in accordance with the provisions hereof and prepare a certificate showing such adjustment or
readjustment, and shall mail such certificate, by first class mail, postage prepaid, to each registered holder of Series A-1 Preferred Stock at the holder’s address as shown in the Corporation’s books. The certificate shall set forth such
adjustment or readjustment, showing in detail the facts upon which such adjustment or readjustment is based, including a statement of (i) the consideration received or deemed to be received by the Corporation for any Additional Shares of Common
Stock issued or sold or deemed to have been issued or sold, (ii) the Conversion Price with respect to the Series A-1 Preferred Stock then in effect, (iii) the number of Additional Shares of Common Stock and (iv) the type and
amount, if any, of other property which at the time would be received upon conversion of the Series A-1 Preferred Stock. 

i. Notices of Record Date. Upon (i) any taking by the Corporation of a record of the holders of any class of securities for
the purpose of determining the holders thereof who are entitled to receive any dividend or other distribution, or (ii) any capital reorganization of the Corporation, any reclassification or recapitalization of the capital stock of the
Corporation, any merger or consolidation of the Corporation with or into any other corporation, or any voluntary or involuntary dissolution, liquidation or winding up of the Corporation, the Corporation shall mail to each holder of Series Preferred
at least twenty (20) days prior to the record date specified therein a notice specifying (A) the date on which any such record is to be taken for the purpose of such dividend or distribution and a description of such dividend or
distribution, (B) the date on which any such reorganization, reclassification, transfer, consolidation, merger, dissolution, liquidation or winding up is expected to become effective, and (C) the date, if any, that is to be fixed as to
when the holders of record of Common Stock (or other securities) shall be entitled to exchange their shares of Common Stock (or other securities) for securities or other property deliverable upon such reorganization, reclassification, transfer,
consolidation, merger, dissolution, liquidation or winding up. 
 j. Automatic Conversion. 

(i) Each share of Series Preferred shall automatically be converted into shares of Common Stock, based on the applicable
Conversion Price with respect to each series of Preferred Stock then in effect, (A) at any time upon the affirmative election of the holders of at least a majority of the outstanding shares of the Series Preferred, or (B) immediately upon
the closing of a firmly underwritten public offering pursuant to an effective 

  
 9. 

 
registration statement under the Securities Act of 1933, as amended, covering the offer and sale of Common Stock for the account of the Corporation in which (i) the per share price is at
least $3.00 (as adjusted for stock splits, dividends, recapitalizations and the like), and (ii) the gross cash proceeds to the Corporation (before underwriting discounts, commissions and fees) are at least $10,000,000. Upon such automatic
conversion, any declared and unpaid dividends shall be paid in accordance with the provisions of Section 4(b). 
 (ii)
Upon the occurrence of either event specified in paragraph (i) above, the outstanding shares of Series Preferred shall be converted automatically without any further action by the holders of such shares and whether or not the certificates
representing such shares are surrendered to the Corporation or its transfer agent; provided, however, that the Corporation shall not be obligated to issue certificates evidencing the shares of Common Stock issuable upon such conversion unless the
certificates evidencing such shares of Series Preferred are either delivered to the Corporation or its transfer agent as provided below, or the holder notifies the Corporation or its transfer agent that such certificates have been lost, stolen or
destroyed and executes an agreement satisfactory to the Corporation to indemnify the Corporation from any loss incurred by it in connection with such certificates. Upon the occurrence of such automatic conversion of the Series Preferred, the holders
of Series Preferred shall surrender the certificates representing such shares at the office of the Corporation or any transfer agent for the Series Preferred. Thereupon, there shall be issued and delivered to such holder promptly at such office and
in its name as shown on such surrendered certificate or certificates, a certificate or certificates for the number of shares of Common Stock into which the shares of Series Preferred surrendered were convertible on the date on which such automatic
conversion occurred, and any declared and unpaid dividends shall be paid in accordance with the provisions of Section 4(b). 
 k. Fractional Shares. No fractional shares of Common Stock shall be issued upon conversion of Series Preferred. All shares of Common Stock (including fractions thereof) issuable upon conversion of
more than one share of Series Preferred by a holder thereof shall be aggregated for purposes of determining whether the conversion would result in the issuance of any fractional share. If, after the aforementioned aggregation, the conversion would
result in the issuance of any fractional share, the Corporation shall, in lieu of issuing any fractional share, pay cash equal to the product of such fraction multiplied by the Common Stock’s fair market value (as determined by the Board of
Directors) on the date of conversion. 
 l. Reservation of Stock Issuable Upon Conversion. The Corporation shall at all
times reserve and keep available out of its authorized but unissued shares of Common Stock, solely for the purpose of effecting the conversion of the shares of the Series Preferred, such number of its shares of Common Stock as shall from time to
time be sufficient to effect the conversion of all outstanding shares of the Series Preferred. If at any time the number of authorized but unissued shares of Common Stock shall not be sufficient to effect the conversion of all then outstanding
shares of the Series Preferred, the Corporation will take such corporate action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued shares of Common Stock to such number of shares as shall be sufficient for
such purpose. 

  
 10.

 m. Notices. Any notice required by the provisions of this Section 4 shall be in
writing and shall be deemed effectively given: (i) upon personal delivery to the party to be notified, (ii) when sent by confirmed telex or facsimile if sent during normal business hours of the recipient; if not, then on the next business
day, (iii) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (iv) one (1) day after deposit with a nationally recognized overnight courier, specifying next day
delivery, with written verification of receipt. All notices shall be addressed to each holder of record at the address of such holder appearing on the books of the Corporation. 

n. Payment of Taxes. The Corporation will pay all taxes (other than taxes based upon income) and other governmental charges that
may be imposed with respect to the issue or delivery of shares of Common Stock upon conversion of shares of Series Preferred, excluding any tax or other charge imposed in connection with any transfer involved in the issue and delivery of shares of
Common Stock in a name other than that in which the shares of Series Preferred so converted were registered. 
 o. No
Dilution or Impairment. Without the consent of the holders of the then outstanding Series Preferred, voting together as a single class, the Corporation shall not amend its Second Amended and Restated Articles of Incorporation or participate in
any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or take any other voluntary action, for the purpose of avoiding or seeking to avoid the observance or performance of any of the terms to be
observed or performed hereunder by the Corporation, but shall at all times in good faith assist in carrying out all such action as may be reasonably necessary or appropriate in order to protect the conversion rights of the holders of the Series
Preferred against dilution or other impairment. 
 5. No Reissuance of Series Preferred. 

No share or shares of Series Preferred which have been converted into Common Stock after the original issuance thereof shall be reissued and all such
shares so converted shall upon such conversion cease to be authorized shares of the Corporation. In addition, the Articles of Incorporation shall be appropriately amended to effect the corresponding reduction in the Corporation’s authorized
stock. 
 6. No Preemptive Rights. 
 Shareholders shall have no preemptive rights. 
 IV. 

A. The liability of the directors of the Corporation for monetary damages shall be eliminated to the fullest extent permissible
under California law. 
 B. The Corporation is authorized to provide indemnification of agents (as defined in
Section 317 of the General Corporation Law of California) for breach of duty to the Corporation and its shareholders through bylaw provisions or through agreements with agents, or both, in excess of the indemnification otherwise permitted by
Section 317 of the General Corporation 

  
 11.

 
Law of California, subject to the limits on such excess indemnification set forth in Section 204 of the General Corporation Law of California. If, after the effective date of this Article,
California law is amended in a manner which permits a corporation to limit the monetary or other liability of its directors or to authorize indemnification of, or advancement of such defense expenses to, its directors or other persons, in any such
case to a greater extent than is permitted on such effective date, the references in this Article to “California law” shall to that extent be deemed to refer to California law as so amended. 

C. Any repeal or modification of this Article shall only be prospective and shall not affect the rights under this Article in
effect at the time of the alleged occurrence of any action or omission to act giving rise to liability. 
 THREE: The
foregoing amendment and restatement of the Articles of Incorporation has been duly approved by the Board of Directors of this Corporation. 
 FOUR: The foregoing amendment and restatement of the Articles of Incorporation has been duly approved by the required vote of shareholders in accordance with Section 902 of the California
Corporations Code. The Corporation has two classes of stock outstanding and each such class of stock is entitled to vote with respect to the amendment herein set forth. The total number of outstanding shares of the Corporation is 3,360,000 shares of
Common Stock and 3,000,000 shares of Series A Preferred Stock. The number of shares voting in favor of the amendment equaled or exceeded the vote required. The percentage vote required was more than fifty percent (50%) of the outstanding Common
Stock voting as a class and more than fifty percent (50%) of the outstanding Series A Preferred Stock voting as a class. There are no shares of Series A-1 Preferred Stock outstanding. 

[THIS SPACE INTENTIONALLY LEFT BLANK] 

  
 12.

 The undersigned, Bernhard O. Palsson, the President and Secretary of
GENOMATICA, INC., declares under penalty of perjury under the laws of the State of California that the matters set out in the foregoing Certificate are true of his own knowledge. 

Executed at San Diego, California on December 18, 2001. 

 

	
	 /s/ Bernhard O. Palsson

	 Bernhard O. Palsson

President and Secretary

  
 13.

 EXHIBIT B 

ASSIGNMENT OF FIRST INVENTION 

 [...***...] 

  

					
		  		  	***Confidential Treatment Requested

 AMENDMENT NO. 1 TO THE LICENSE AGREEMENT 

EFFECTIVE 20 DECEMBER 2001 
 BETWEEN 
 GENOMATICA, INC., 

AND 
 THE
REGENTS OF THE UNIVERSITY OF CALIFORNIA 
 FOR 
 UCSD DOCKET NOS. [...***...] 
 This amendment to the agreement
(“Amendment”) is made by and between Genomatica, Inc, a California corporation having an address at 5405 Morehouse Drive, Suite 210, San Diego, CA 92121 (“Genomatica”) and The Regents Of The University Of California, a California
corporation having its statewide administrative offices at 1111 Franklin Street, Oakland, California 94607-5200 (“University”), as represented by its San Diego campus having an address at University of California, San Diego,
Technology Transfer & Intellectual Property Services, Mail-code 0910, 9500 Gilman Drive, La Jolla, California 92093-0910 (“UCSD”). 
 This Amendment is effective on the date of the last signature (“Effective Date”). 
 Whereas, Genomatica has entered into a License Agreement (“License Agreement”) with the UNIVERSITY effective 20 December 2001 (UC control No. 2002-04-0215) wherein Genomatica
was granted certain rights; 
 Whereas, Genomatica and University wish to amend the License Agreement; 

Now Therefore, Genomatica and University agree to amend the License Agreement to include certain modifications. These changes are
to be substituted for those relevant portions in the License Agreement and are effective on the Effective Date. For these purposes, changes are made as detailed below to the following Articles of the License Agreement: 

ARTICLE 2. GRANTS. 
 2.2(c) is replaced
in its entirety with the following: 
 Upon termination of this Agreement for any reason, UNIVERSITY, at its reasonable discretion, shall
determine whether LICENSEE shall cancel or assign to UNIVERSITY any and all sublicenses; provided, however, that LICENSEE may submit a proposed sublicense to UNIVERSITY in advance for UNIVERSITY’s prior approval, such approval not to be
unreasonably withheld or delayed (i.e. UNIVERSITY will respond within forty-five (45) days after receipt of such proposal from LICENSEE), and if UNIVERSITY approves such sublicense, then such sublicense shall also become a direct license
between the Sublicensee and UNIVERSITY upon termination of this Agreement for any reason, provided that such Sublicensee is not the cause of the termination of this Agreement, but the UNIVERSITY’S duties under any assumed sublicense shall be
only to the extent of the UNIVERSITY’S duties under this license. 

  

					
		  	1.	  	***Confidential Treatment Requested

 DRAFT 
 ARTICLE 5. PATENT MATTERS 
 5.2 (a) is replaced in its entirety with the following:

 If LICENSEE learns of any substantial infringement of Patent Rights, LICENSEE shall so inform UNIVERSITY promptly and provide UNIVERSITY with
reasonable evidence of the infringement. Neither party shall notify a third party of the infringement of Patent Rights without the consent of the other party. Both parties shall use reasonable efforts and cooperation to terminate infringement
without litigation. 
 5.2 (b) is replaced in its entirety with the following: 
 [...***...] agrees to provide [...***...] all reasonable assistance [...***...], in such enforcement, including, without limitation, executing any necessary documentation related
thereto. If [...***...] fails to bring an action or proceeding within [...***...] set forth in the appropriate laws and regulations for the filing of such actions, whichever comes first, then [...***...] shall have the right, but
not the obligation, to bring and control any such action at its own expense and by counsel of its own choice. In such case, [...***...] agrees to provide [...***...] all reasonable assistance, at [...***...] expense, in such
enforcement, including, without limitation, executing any necessary documentation related thereto. Regardless which party brings such enforcement action, the party not bringing the action shall have the right to participate in such action at its own
expense with its own counsel. [...***...] may not make the [...***...] a party to an infringement action brought by [...***...] without [...***...] consent. 
 All other terms and conditions in the Agreement between Genomatica and The University effective 20 December 2001 shall remain unchanged and in effect. The parties agree that this Amendment may be
executed in two (2) or more counterparts, each of which shall be deemed an original and all of which together shall constitute but one and the same instrument. 
 IN WITNESS WHEREOF, both UNIVERSITY and Genomatica have executed this Agreement, in duplicate originals, by their respective and duly authorized officers on the day and year written. 

 

									
	GENOMATICA, INC.:	 		 	 THE REGENTS OF THE

UNIVERSITY OF CALIFORNIA:

			
	By : /s/   Thomas A.
Reed                        	 	 	 	By: /s/   Alan S.
Paau                        
	              Thomas A. Reed	 		 	            Alan S. Paau
	              Chief Financial Officer	 		 	             Director, Technology Transfer &

            Intellectual Property Services

			
	Date: 2/14/02	 		 	Date: Feb 4, 2002

  

					
		  	2.	  	***Confidential Treatment Requested

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00195-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00195-of-00352.parquet"}]]