Document:

Form of Warrant to purchase Preferred Stock

 Exhibit 4.2 
 

 
 THIS WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933 AS AMENDED (the “1933 ACT”), OR ANY STATE SECURITIES LAWS. THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL REASONABLY
SATISFACTORY TO YOU THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE 1933 ACT, OR ANY APPLICABLE STATE SECURITIES LAWS. 

PLAIN ENGLISH WARRANT AGREEMENT 
 This is a PLAIN ENGLISH WARRANT AGREEMENT dated June 20, 2011 by and between GENOMATICA, INC., a Delaware corporation, and TRIPLEPOINT CAPITAL LLC, a Delaware limited liability company.

 The words “We”, “Us”, or “Our” refer to the warrant holder, which is TRIPLEPOINT CAPITAL LLC. The words
“You” or “Your” refers to the issuer, which is GENOMATICA, INC, and not to any individual. The words “the Parties” refers to both TRIPLEPOINT CAPITAL LLC and GENOMATICA, INC. This Plain English Warrant Agreement may be
referred to as the “Warrant Agreement”. 
 The Parties have entered into a Plain English Equipment Loan and Security Agreement dated
as of June 20, 2011, the “Loan Agreement”. 
 In consideration of such Loan Agreement, the Parties agree to the following mutual
agreements and conditions set forth below: 
  

					
	WARRANT INFORMATION
			
	 Effective Date
	 	 Warrant Number
	 	 Loan Facility Number

			
	June 20, 2011	 	0693-W-01	 	0693-LO-01H/-01S

  

							
	 Warrant Coverage
	 	 Number of Shares
	 	 Price Per Share
	 	 Type of Stock

				
	$200,000 (5% of $4,000,000)	 	108,683, subject to

adjustment as set forth in
 this Warrant Agreement.
	 	$1.8402, subject to

adjustment as set forth in this
 Warrant Agreement
	 	Series C-1 Preferred Stock,
 subject to adjustment as set
forth in this Warrant
 Agreement

  

					
	OUR CONTACT INFORMATION
			
	 Name
	 	 Address For Notices
	 	 Contact Person

			
	TriplePoint Capital LLC	 	 2755 Sand Hill Road, Ste. 150
 Menlo Park, CA 94025
 Tel: (650) 854-2090

Fax: (650) 854-1850
	 	 Sajal Srivastava, COO

	
	YOUR CONTACT INFORMATION
			
	 Customer Name
	 	 Address For Notices
	 	 Contact Person

			
	Genomatica, Inc.	 	 10520 Wateridge Circle
 San Diego, CA 92121
 858-362-8571
	 	 Tom McDonald,
 Senior Director of Finance

  
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	1.	WHAT YOU AGREE TO GRANT US 

  

You grant to Us and We are entitled, upon the terms and subject to the conditions set forth in this Warrant Agreement, to purchase from You, at a price
per share equal to the Exercise Price, that number of fully paid and non-assessable shares of Your Warrant Stock equal to Two Hundred Thousand Dollars ($200,000), divided by the Exercise Price, rounded down to the nearest whole share. 

The number of shares of Warrant Stock and the Exercise Price of such Warrant Stock are subject to adjustment as provided in Section 4 hereof.

 For purposes of this Warrant Agreement, the following capitalized terms have the meanings given below: 

“Exercise Price” means the lower of (a) $1.8402 and (b) the lowest per share price for which Your preferred stock is
sold in the Next Round. For avoidance of doubt, if this Warrant Agreement is exercised prior to the Next Round then the Exercise Price shall be $1.8402. 
 “Next Round” means the next bona fide round of equity financing in which You issue and sell shares of your preferred stock for aggregate gross cash proceeds of at least $2,000,000 (excluding any
amounts received upon conversion or cancellation of indebtedness) subsequent to the Effective Date and prior to June 20, 2013. 
 “Warrant Stock” means (a) the class and series of Your preferred stock issued in the Next Round, if the lowest per share price for which such preferred stock is sold in the Next Round is
less than $1.8402, or (b) in all other cases, Your Series C-1 Preferred Stock. For avoidance of doubt, if this Warrant Agreement is exercised prior to the Next Round then this Warrant Agreement shall be exercisable for Your Series C-1 Preferred
Stock. 
 The Parties agree that this Warrant Agreement to purchase the Warrant Stock has a fair market value equal to $100 and that $100 of the
issue price of the investment will be allocable to the Warrant Agreement and the balance shall be allocable to the Loan Agreement for income tax purposes and the original issue discount on the Loan Agreement shall be considered to be zero.

  
  

	2.	WHEN ARE WE ENTITLED TO PURCHASE YOUR WARRANT STOCK. 

 
 The term of this Warrant Agreement and our right to
purchase Warrant Stock will begin the Effective Date, and shall be available for the lesser of (i) 10 years from the Effective Date or (ii) 1 year from the effective date of Your initial public offering. 

 
  

	3.	HOW WE MAY PURCHASE YOUR WARRANT STOCK. 

 
 We may exercise Our purchase rights, in whole or in
part, at any time, or from time to time, prior to the expiration of the term of this Warrant Agreement, by giving You a completed and executed Notice of Exercise in the form attached as Exhibit I. Promptly upon receipt of the Notice of
Exercise and in any event no later than twenty-one (21) days after you have received Our Notice of Exercise and payment of the aggregate Exercise Price for the shares purchased, You will issue to Us a certificate for the number of shares of
Warrant Stock that We have purchased and You will execute the Acknowledgment of Exercise in the form attached hereto as Exhibit II indicating the number of shares which will be available to Us for future purchases, if any. 

We may pay for the Warrant Stock by either (i) cash or check, or (ii) by the net issuance method as determined below. If We elect the
Net Issuance method, You will issue Warrant Stock using the following formula: 
  

					
		 		  	X = Y(A-B)
		 		  	          A
			
	Where:	 	X =	  	the number of shares of Warrant Stock to be issued to Us.
		 	Y =	  	the number of shares of Warrant Stock We request to be exercised under this Warrant Agreement.
		 	A =	  	the fair market value of one share of Warrant Stock.
		 	B =	  	the Exercise Price.

  
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 For purposes of the above calculation, current fair market value of Warrant Stock shall mean with respect to
each share of Warrant Stock: 
 If the exercise is in connection with the initial public offering of Your Common Stock, and if Your
registration statement relating to such public offering has been declared effective by the Securities and Exchange Commission, then the fair market value per share shall be the product of (x) the initial “Price to Public” specified in
the final prospectus of the offering and (y) the number of shares of Common Stock into which each share of Warrant Stock is convertible at the time of such exercise; 
 If this Warrant Agreement is exercised after, and not in connection with Your initial public offering, and: 
  

	•	 	 if traded on a securities exchange, the fair market value shall be the product of (x) the average of the closing prices over a five (5) day
period ending three (3) days before the day the current fair market value of the securities is being determined and (y) the number of shares of Common Stock into which each share of Warrant Stock is convertible at the time of such
exercise; or 

  

	•	 	 if actively traded over-the-counter, the fair market value shall be the product of (x) the average of the closing bid and asked prices quoted on
the NASDAQ system (or similar system) over the five (5) day period ending three (3) days before the day the current fair market value of the securities is being determined and (y) the number of shares of Common Stock into which each
share of Warrant Stock is convertible at the time of such exercise. 

 If this Warrant Agreement is exercised prior to or
after Your initial public offering, and: 
  

	•	 	 Your Common Stock is not listed on any securities exchange or quoted in the NASDAQ System or the over-the-counter market, the current fair market value
of Warrant Stock shall be the product of (x) the fair market value of a share of Your Common Stock (the highest price per share which You could obtain from a willing buyer (not a current employee or director) for shares of Common Stock sold,
from authorized but unissued shares), as determined in good faith by Your Board of Directors and (y) the number of shares of Common Stock into which each share of Warrant Stock is convertible at the time of such exercise, unless You shall
become subject to a merger, acquisition or other consolidation pursuant to which You are not the surviving party, in which case the fair market value of Warrant Stock shall be deemed to be the value of consideration received by the holders of Your
Warrant Stock on a common equivalent basis pursuant to such merger or acquisition or other consolidation. 

 During the term
of this Warrant Agreement, You will at all times from and after the Effective Date have authorized and reserved a sufficient number of shares of (a) Warrant Stock to provide for the exercise of our rights to purchase Warrant Stock, and
(b) Common Stock to provide for the conversion of the Warrant Stock. 
 If We elect to exercise part of the Warrant Agreement, You will
promptly issue to Us an amended Warrant Agreement stating the remaining number of shares that are available. All other terms and conditions of that amended Warrant Agreement shall be identical to those contained in this Warrant Agreement.

 If at the end of the term of this Warrant Agreement, the fair market value of one share of Warrant Stock (or other security issuable upon the
exercise hereof) as determined in accordance herewith is greater than the Exercise Price in effect on such date, then this Warrant Agreement shall automatically be exercised via the net issuance method and be deemed on and as of such date to be
converted pursuant hereto as to all shares of Warrant Stock (or such other securities) for which it shall not previously have been exercised or converted, and You shall promptly deliver a certificate representing the shares of Warrant Stock (or such
other securities) issued upon such conversion to Us. 
  
  

	4.	WHEN WILL THE NUMBER OF SHARES AND EXERCISE PRICE CHANGE. 

 
  

	•	 	 If You are Acquired. If at any time: (i) there is a reorganization of Your stock (other than a reclassification, exchange or subdivision of
Your stock otherwise provided for in this Warrant Agreement); (ii) You merge or consolidate with or into another entity, whether or not You are the surviving entity; (iii) You sell or convey, or giant an exclusive license with respect to,
all or substantially all of Your assets to any other person; or (iv) there occurs any transaction or series of related transactions (other than a transaction that does not result in any reclassification or change in the outstanding class or
series of Warrant Stock) that result in the transfer of fifty percent (50%) or more of the outstanding voting power of the capital stock of You (each of the foregoing events are referred to as a “Merger

  
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Event”), then, as a part of such Merger Event, lawful provision shall be made so that We shall thereafter be entitled to purchase, upon exercise of Our rights under this Warrant Agreement,
the number of shares of preferred stock or other securities of the successor or surviving person resulting from such Merger Event, which would have been issuable if We had exercised Our rights under this Warrant Agreement immediately prior to the
Merger Event. In any such case, appropriate adjustment (as determined in good faith by Your Board of Directors) shall be made in the application of the provisions of this Warrant Agreement with respect to Our rights and interest after the Merger
Event so that this Warrant Agreement (including adjustments of the Exercise Price and number of shares of Warrant Stock purchasable) shall be exercisable for the number of shares of preferred stock or other securities or property of the successor or
surviving person resulting from such Merger Event, which would have been issuable if We had exercised Our rights under this Warrant Agreement immediately prior to the Merger Event. 

 

	•	 	 If You Reclassify Your Stock. If at any time You combine, reclassify, exchange or subdivide Your securities or otherwise, change any of the
securities as to which purchase rights under this Warrant Agreement exist into the same or a different number of securities of any other class or classes, this Warrant Agreement will thereafter represent the right to acquire such number and kind of
securities as would have been issuable as the result of such change with respect to the securities which were subject to the purchase rights under this Warrant Agreement immediately prior to such combination, reclassification, exchange, subdivision
or other change. 

  

	•	 	 If You Subdivide or Combine Your Shares. If at any time You combine or subdivide the Warrant Stock, the Exercise Price will be proportionately
decreased in the case of a subdivision, or proportionately increased in the case of a combination. 

  

	•	 	 If You Pay Stock Dividends. If at any time You pay a dividend payable in, or make any other distribution (except any distribution specifically
provided for in the above paragraphs) of the Warrant Stock, then the Exercise Price shall be adjusted, from and after the record date of such dividend or distribution, to that price determined by multiplying the Exercise Price in effect immediately
prior to such record date by a fraction (i) the numerator of which shall be the total number of all shares of the Warrant Stock outstanding immediately prior to such dividend or distribution, and (ii) the denominator of which shall be the
total number of all shares of Warrant Stock outstanding immediately after such dividend or distribution. We will thereafter be entitled to purchase, at the Exercise Price resulting from such adjustment, the number of shares of Warrant Stock
(calculated to the nearest whole share) obtained by multiplying the Exercise Price in effect immediately prior to such adjustment by the number of shares of Warrant Stock issuable upon the exercise hereof immediately prior to such adjustment and
dividing the product thereof by the Exercise Price resulting from such adjustment. 

  

	•	 	 If You Change the Antidilution Rights of the Warrant Stock or Issue New Preferred or Convertible Stock. All antidilution rights applicable to
the Warrant Stock purchasable under this Warrant Agreement are as set forth in Your Amended and Restated Certificate of Incorporation, as amended through the Effective Date. You will promptly provide Us with any restatement, amendment, modification
of or waiver of any right under Your Amended and Restated Certificate of Incorporation. You will provide Us with prior written notice of any issuance of Your stock or other equity security to occur after the Effective Date (other than issuances of
stock or equity securities pursuant to customary employee stock plans and non-employee director equity plans and employee stock purchase plans or other issuances of equity securities that are excluded from the definition of “Additional Shares
of Common Stock” in Your Amended and Restated Certificate of Incorporation), which notice shall include (a) the price at which such stock or security is to be sold, (b) the number of shares to be issued, and (c) such other
information as necessary for Us to determine if a dilutive event has occurred or will occur as a result of such issuance. Such notice requirement shall terminate upon the effective date of Your initial public offering 

 
  

	5.	WE CAN TRANSFER THIS PLAIN ENGLISH WARRANT AGREEMENT. 

 
 Subject to the terms and conditions contained in
Section 7, We (or any successor transferee) may transfer in whole or in part this Warrant Agreement and all its rights. You will record the transfer on Your books when You receive Our Notice of Transfer in the form attached hereto as Exhibit
III, and Our payment of all transfer taxes and other governmental charges involved in such transfer. 

  
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	6.	REPRESENTATIONS, WARRANTIES, AND COVENANTS FROM YOU. 

 
  

	•	 	 Reservation of Warrant Stock. The Warrant Stock issuable upon exercise of Our rights under this Warrant Agreement will be duly and validly
reserved and when issued in accordance with the provisions of this Warrant Agreement will be validly issued, fully paid and non-assessable, and will be free of any taxes, liens, charges or encumbrances of any nature whatsoever; provided, however,
that the Warrant Stock issuable pursuant to this Warrant Agreement may be subject to restrictions on transfer under state and/or Federal securities laws. Upon Our exercise, You will issue to Us certificates for shares of Warrant Stock without
charging Us any tax, except to the extent required by law, or other cost incurred by You in connection with such exercise and the related issuance of shares of Warrant Stock. You will not be required to pay any tax, which may be payable in respect
of any transfer involved and the issuance and delivery of any certificate in a name other than TriplePoint Capital LLC. 

  

	•	 	 Due Authority. Your execution and delivery of this Warrant Agreement and the performance of Your obligations hereunder, including the issuance
to Us of the right to acquire the shares of Warrant Stock, have been duly authorized by all necessary corporate action on Your part and this Warrant Agreement is not inconsistent with Your Amended and Restated Certificate of Incorporation or Bylaws,
does not contravene any law or governmental rule, regulation or order applicable to it, do not and will not contravene any provision of, or constitute a default under, any indenture, mortgage, contract or other instrument to which You are a party or
by which You are bound, and this Warrant Agreement constitutes a legal, valid and binding agreement, enforceable in accordance with its respective terms, subject to laws of general application relating to bankruptcy, insolvency and the relief of
debtors and the rules of law or principles at equity governing specific performance, injunctive relief and other equitable remedies. 

  

	•	 	 Consents and Approvals. No consent or approval of, giving of notice to, registration with, or taking of any other action in respect of any
state, Federal or other governmental authority or agency is required with respect to execution, delivery and Your performance of Your obligations under this Warrant Agreement, except for the filing of any required notices pursuant to Federal and
state securities laws, which filings will be effective by the times required thereby. 

  

	•	 	 Issued Securities. All of Your issued and outstanding shares of Common Stock, Warrant Stock or any other securities have been duly authorized
and validly issued and are fully paid and nonassessable. As of the Effective Date, all outstanding shares of Common Stock and preferred stock were issued in full compliance with all Federal and state securities laws. In addition as of the Effective
Date: 

 Your authorized capital consists of (A) 74,600,000 shares of Common Stock, of which 5,126,804 shares of Common
Stock are issued and outstanding, and (B) 56,426,190 shares of preferred stock, of which 56,426,190 shares are issued and outstanding. 

You have reserved 13,699,094 shares of Common Stock for issuance under Your 2008 Equity Incentive Stock Incentive Plan, under which 10,004,818 options
have been granted, net of forfeitures. Except as otherwise provided in this Warrant Agreement and as noted above, there are no other options, warrants, conversion privileges or other rights presently outstanding to purchase or otherwise acquire any
authorized but unissued shares of Your capital stock or other of Your securities. 
 Except as set forth in Your Amended and Restated Investor
Rights Agreement, dated as of December 10, 2010, as amended (as amended, the “Investor Rights Agreement”), a true, correct and complete copy of which has been delivered to Us prior to the issuance of this Warrant, Your stockholders do
not have preemptive rights to purchase new issuances of Your capital stock. 
  

	•	 	 Other Commitments to Register Securities. Except as set forth in this Warrant Agreement and the Investor Rights Agreement, You are not, pursuant
to the terms of any other agreement currently in existence, under any obligation to register under the 1933 Act any of Your presently outstanding securities or any of Your securities which may hereafter be issued. 

 

	•	 	 Exempt Transaction. Subject to the accuracy of Our representations in Section 7 hereof, the issuance of the Warrant Stock upon exercise of
this Warrant Agreement will constitute a transaction exempt from (i) the registration requirements of Section 5 of the 1933 Act, in reliance upon Regulation D thereof, and (ii) the qualification requirements of the applicable state
securities laws. 

  
 Warrant (Loan) 0693-W-01

 5 

	•	 	 Compliance with Rule 144. We may sell the Warrant Stock issuable hereunder in compliance with Rule 144 promulgated by the Securities and
Exchange Commission. Within ten (10) days of Our request, You agree to furnish Us, a written statement confirming Your compliance with the filing requirements of the Securities and Exchange Commission as set forth in such Rule 144, as may be
amended, necessary for Our ability to sell thereunder. 

  

	•	 	 No Impairment. You agree not to, by amendment of Your Amended and Restated Certificate of Incorporation or through a reorganization, transfer of
assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms to be observed or performed under this Warrant by You, but shall at all
times in good faith assist in carrying out of all the provisions of this Warrant and in taking all such action as may be necessary or appropriate to protect Our rights under this Warrant against impairment. However, You shall not be deemed to have
impaired Our rights if You amend Your Amended and Restated Certificate of Incorporation, or the holders of Your preferred stock waive their rights thereunder, in a manner that does not (individually or when considered in the context of any other
actions being taken in connection with such amendments or waivers) affect Us in a manner different from the effect that such amendments or waivers have on the rights of other holders of the same series and class as the Warrant Stock.

  
  

	7.	OUR REPRESENTATIONS AND COVENANTS TO YOU. 

 
  

	•	 	 Investment Purpose. The right to acquire Warrant Stock or the Warrant Stock issuable upon exercise of Our rights contained herein and the Common
Stock issuable upon conversion will be acquired for investment purposes and not with a view to the sale or distribution of any part thereof, and We have no present intention of selling or engaging in any public distribution of the same in violation
of the 1933 Act. 

  

	•	 	 Private Issue. We understand (i) that this Warrant Agreement, the Warrant Stock issuable upon exercise of this Warrant Agreement and the
Common Stock issuable upon conversion of the Warrant Stock are not registered under the 1933 Act or qualified under applicable state securities laws on the ground that the issuance contemplated by this Warrant Agreement will be exempt from the
registration and qualifications requirements thereof, and (ii) that Your reliance on such exemption is predicated on the representations set forth in this Section 7. 

 

	•	 	 Disposition of Our Rights. In no event will We make a disposition of any of Our rights to acquire Warrant Stock or Warrant Stock issuable upon
exercise of such rights or the Common Stock issuable upon conversion of the Warrant Stock unless and until (i) We shall have notified You in writing of the proposed disposition, and (ii) the transferee agrees to be bound in writing to the
applicable terms and conditions of this Warrant Agreement, and (iii) if You request, We shall have furnished You with an opinion of counsel satisfactory to You and Your counsel to the effect that (A) appropriate action necessary for
compliance with the 1933 Act has been taken, or (B) an exemption from the registration requirements of the 1933 Act is available. Notwithstanding the foregoing, the restrictions imposed upon the transferability of any of Our rights to acquire
Warrant Stock or Warrant Stock issuable on the exercise of such rights or the Common Stock issuable upon conversion of the Warrant Stock do not apply to transfers from the beneficial owner of any of the aforementioned securities to its nominee or
from such nominee to its beneficial owner, and shall terminate as to any particular share of Warrant Stock when (1) such security shall have been effectively registered under the 1933 Act and sold by the holder thereof in accordance with such
registration or (2) such security shall have been sold without registration in compliance with Rule 144 under the 1933 Act, or (3) a letter shall have been issued to You at Our request by the staff of the Securities and Exchange Commission
or a ruling shall have been issued to the You at Our request by such Commission stating that no action shall be recommended by such staff or taken by such Commission, as the case may be, if such security is transferred without registration under the
1933 Act in accordance with the conditions set forth in such letter or ruling and such letter or ruling specifies that no subsequent restrictions on transfer are required. Whenever the restrictions imposed hereunder shall terminate, as hereinabove
provided, the holder of a share of Warrant Stock then outstanding as to which such restrictions have terminated shall be entitled to receive from You, without expense to such holder, one or more new certificates for the Warrant or for such shares of
Warrant Stock not bearing any restrictive legend referring to 1933 Act registration or exemption. 

  

	•	 	 Financial Risk. We have such knowledge and experience in financial and business matters and knowledge of Your business affairs and financial
condition as to be capable of evaluating the merits and risks of Our investment, and have the ability to bear the economic risks of Our investment. 

  

	•	 	 Risk of No Registration. We understand that if You do not register with the Securities and Exchange Commission pursuant to Section 12 of
the Securities Exchange of 1934 Act, as amended (the “1934 Act”), or file reports pursuant 

  
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to Section 15(d), of the 1934 Act, or if a registration statement covering the securities under the 1933 Act is not in effect when We desire to sell (i) the rights to purchase Warrant
Stock pursuant to this Warrant Agreement, or (ii) the Warrant Stock issuable upon exercise of the right to purchase, or (iii) the Common Stock issuable upon conversion of the Warrant Stock, We may be required to hold such securities for an
indefinite period. We also understand that any sale of Our right to purchase Warrant Stock or Warrant Stock or Common Stock issuable upon conversion of the Warrant Stock, which might be made by it in reliance upon Rule 144 under the 1933 Act may be
made only in accordance with the terms and conditions of that Rule. 

  

	•	 	 Accredited Investor. We are an “accredited investor” within the meaning of the Securities and Exchange Rule 501 of Regulation D of the
1933 Act, as presently in effect. 

  
  

	8.	NOTICES YOU AGREE TO PROVIDE US. 

  

You agree to give Us at least twenty (20) days prior written notice of the following events: 

 

	•	 	 If You Pay a Dividend or distribution declaration upon your stock. 

 

	•	 	 If You offer for subscription pro-rata to the existing shareholders additional stock or other rights. 

 

	•	 	 If You consummate or sign definitive documents providing for a Merger Event. 

 

	•	 	 If You have an IPO. 

  

	•	 	 If You dissolve or liquidate. 

 All notices in this Section must set forth details of the event, how the event adjusts either Our number of shares or Our Exercise Price and the method used for such adjustment. 

Timely Notice. Your failure to timely provide such notice required above shall entitle Us to retain the benefit of the applicable notice period
notwithstanding anything to the contrary contained in any insufficient notice received by Us. 
  

 

	9.	DOCUMENTS YOU WILL PROVIDE US. 

  

Upon signing this Agreement You will provide Us with: 
  

	•	 	 Executed originals of this Agreement, and all other documents and instruments that We may reasonably require 

 

	•	 	 Secretary’s certificate of incumbency and authority 

 

	•	 	 Certified copy of resolutions of Your board of directors approving this Warrant Agreement 

 

	•	 	 Certified copy of Your Amended and Restated Certificate of Incorporation and By-Laws as amended through the Effective Date

  

	•	 	 Your Investor Rights Agreement 

 So long as this Warrant Agreement is in effect, You shall provide Us with the following: 
  

	•	 	 Within five (5) Business Days after the closing of any equity financing, or extension of an existing round of equity financing, occurring after
the Effective Date, in which You issue preferred stock or other securities You will provide Us with copies of the fully executed equity financing documents, including without limitation the related stock purchase agreement, investor rights
agreement, voting agreement, amended or restated certificates of incorporation, current capitalization table and other related documents. 

  

	•	 	 Within thirty (30) days after completion You shall provide Us with any 409A Valuation Reports or other similar reports prepared for You.

  

	•	 	 You shall submit to Us any other documents and other information that We may reasonably request from time to time and are necessary to implement the
provisions and purposes of this Warrant Agreement. 

  
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	10.	REGISTRATION RIGHTS UNDER THE 1933 ACT. 

 
 TriplePoint Capital LLC shall be made a party to
the Investor Rights Agreement, solely for the purpose of granting “piggyback” registration rights for the shares of Your common stock into which the Warrant Stock is convertible. 

 
  

	11.	OTHER LEGAL PROVISIONS THE PARTIES WILL ABIDE BY. 

 
 Effective Date. This Warrant Agreement shall
be construed and shall be given effect in all respects as if it had been executed and delivered by the Parties on the date hereof. This Warrant Agreement shall be binding upon any of the successors or assigns of the Parties. 

Attorney’s Fees. In any litigation, arbitration or court proceeding between the Parties relating to this Warrant Agreement, the prevailing
party shall be entitled to attorneys’ fees and expenses and all costs of proceedings incurred in enforcing this Warrant Agreement. 

Governing Law. This Warrant Agreement shall be governed by and construed for all purposes under and in accordance with the laws of the State of
California without giving effect to that body of law pertaining to conflicts of laws. 
 Consent to Jurisdiction and Venue. All judicial
proceedings arising in or under or related to this Warrant Agreement may be brought in any state or federal court of competent jurisdiction located in the State of California. By execution and delivery of this Warrant Agreement, each party hereto
generally and unconditionally: (a) consents to personal jurisdiction in San Mateo County, State of California; (b) waives any objection as to jurisdiction or venue in San Mateo County, State of California; (c) agrees not to assert any
defense based on lack of jurisdiction or venue in the aforesaid courts; and (d) irrevocably agrees to be bound by any judgment rendered thereby in connection with this Warrant Agreement. Service of process on any party hereto in any action
arising out of or relating to this agreement shall be effective if given in accordance with the requirements for notice set forth in this Section, and shall be deemed effective and received as set forth therein. Nothing herein shall affect the right
to serve process in any other manner permitted by law or shall limit the right of either party to bring proceedings in the courts of any other jurisdiction. 
 Mutual Waiver of Jury Trial; Judicial Reference. Because disputes arising in connection with complex financial transactions are most quickly and economically resolved by an experienced and expert
person and the Parties wish applicable state and federal laws to apply (rather than arbitration rules), The Parties desire that their disputes be resolved by a judge applying such applicable laws. EACH OF THE PARTIES SPECIFICALLY WAIVES ANY RIGHT
THEY MAY HAVE TO TRIAL BY JURY OF ANY CAUSE OF ACTION, CLAIM, CROSS-CLAIM, COUNTERCLAIM, THIRD PARTY CLAIM OR ANY OTHER CLAIM (COLLECTIVELY, “CLAIMS”) ASSERTED BY YOU AGAINST US OR OUR ASSIGNEE OR BY US OR OUR ASSIGNEE AGAINST YOU. IN THE
EVENT THAT THE FOREGOING JURY TRIAL WAIVER IS NOT ENFORCEABLE, ALL CLAIMS, INCLUDING ANY AND ALL QUESTIONS OF LAW OR FACT RELATING THERETO, SHALL, AT THE WRITTEN REQUEST OF ANY PARTY, BE DETERMINED BY JUDICIAL REFERENCE PURSUANT TO THE CALIFORNIA
CODE OF CIVIL PROCEDURE (“REFERENCE”). THE PARTIES SHALL SELECT A SINGLE NEUTRAL REFEREE, WHO SHALL BE A RETIRED STATE OR FEDERAL JUDGE. IN THE EVENT THAT THE PARTIES CANNOT AGREE UPON A REFEREE, THE REFEREE SHALL BE APPOINTED BY THE
COURT. THE REFEREE SHALL REPORT A STATEMENT OF DECISION TO THE COURT. NOTHING IN THIS SECTION SHALL LIMIT THE RIGHT OF ANY PARTY AT ANY TIME TO EXERCISE LAWFUL SELF-HELP REMEDIES, FORECLOSE AGAINST COLLATERAL OR OBTAIN PROVISIONAL REMEDIES. THE
PARTIES SHALL BEAR THE FEES AND EXPENSES OF THE REFEREE EQUALLY UNLESS THE REFEREE ORDERS OTHERWISE. THE REFEREE SHALL ALSO DETERMINE ALL ISSUES RELATING TO THE APPLICABILITY, INTERPRETATION, AND ENFORCEABILITY OF THIS SECTION. THE PARTIES
ACKNOWLEDGE THAT THE CLAIMS WILL NOT BE ADJUDICATED BY A JURY. This waiver extends to all such Claims, including Claims that involve Persons other than You and Us; Claims that arise out of or are in any way connected to the relationship between You
and Us; and any Claims for damages, breach of contract, specific performance, or any equitable or legal relief of any kind, arising out of this Warrant Agreement. 
 Counterparts. This Warrant Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

 Notices. Any notice required or permitted under this Warrant Agreement shall be given in writing and shall be deemed effectively given
upon the earlier of (1) actual receipt or 3 days after mailing if mailed postage prepaid by regular or airmail 

  
 Warrant (Loan) 0693-W-01

 8 

 
to Us or You or (2) one day after it is sent by overnight mail via nationally recognized courier or (3) on the same day as sent via confirmed facsimile transmission, provided that the
original is sent by personal delivery or mail by the sending party. 
 Remedies. In the event of any default hereunder, the
non-defaulting party may proceed to protect and enforce its rights either by suit in equity and/or by action at law, including but not limited to an action for damages as a result of any such default, and/or an action for specific performance for
any default where such party will not have an adequate remedy at law and where damages will not be readily ascertainable. Each party expressly acknowledges and agrees that there is no adequate remedy at law for any breach of this Warrant Agreement
and that in the event of any breach of this Agreement, the injured party shall be entitled to specific performance of any or all provisions hereof or an injunction prohibiting the other party from continuing to commit any such breach of this
Agreement. 
 Survival. The representations, warranties, covenants, and conditions of the Parties contained herein or made pursuant to
this Warrant Agreement shall survive the execution and delivery of this Warrant Agreement. 
 Severability. In the event any one or more
of the provisions of this Warrant Agreement shall for any reason be held invalid, illegal or unenforceable, the remaining provisions of this Warrant Agreement shall be unimpaired, and the invalid, illegal or unenforceable provision shall be replaced
by a mutually acceptable valid, legal and enforceable provision, which comes closest to the intention of the Parties underlying the invalid, illegal or unenforceable provision. 
 Entire Agreement. This Warrant Agreement constitutes the entire agreement between the Parties pertaining to the subject matter contained in it and supersedes all prior and contemporaneous
agreements, representations and undertakings of the Parties, whether oral or written, with respect to such subject matter. 
 Amendments.
Any provision of this Warrant Agreement may only be amended by a written instrument signed by the Parties. 
 Lost Warrants or Stock
Certificates. You covenant to Us that, upon receipt of evidence reasonably satisfactory to Us of the loss, theft, destruction or mutilation of this Warrant Agreement or any stock certificate and, in the case of any such loss, theft or
destruction, upon receipt of an indemnity reasonably satisfactory to You, or in the case of any such mutilation upon surrender and cancellation of such Warrant Agreement or stock certificate, You will make and deliver a new Warrant Agreement or
stock certificate, of like tenor, in lieu of the lost, stolen, destroyed or mutilated Warrant Agreement or stock certificate. 
 Rights as
Stockholders. We shall not, as a party to this Warrant Agreement, be entitled to vote or receive dividends or be deemed the holder of Warrant Stock or any of Your other securities which may at any time be issuable upon the exercise hereof for
any purpose, nor shall anything contained herein be construed to confer upon Us any of the rights of one of Your stockholders or any right to vote for the election of directors or upon any matter submitted to stockholders at any meeting thereof, or
to receive dividends or subscription rights or otherwise until this Warrant Agreement is exercised and the shares purchasable upon the exercise hereof shall have become deliverable, as provided herein. 

Facsimile Signatures. This Warrant Agreement may be executed and delivered by facsimile and upon such delivery the facsimile signature will be
deemed to have the same effect as if the original signature had been delivered to the other party. 
 (Signature Page to
Follow) 

  
 Warrant (Loan) 0693-W-01

 9 

 IN WITNESS WHEREOF, each of the Parties have caused this Warrant Agreement to be executed by its
officers who are duly authorized as of the Effective Date. 
  

			
	You:	 	GENOMATICA, INC.
		
	Signature:	 	 /s/ Christophe Schilling

		
	Print Name:	 	 Christophe Schilling

		
	Title:	 	 Chief Executive Officer

		
	Us:	 	TRIPLEPOINT CAPITAL LLC
		
	Signature:	 	 /s/ Sajal Srivastava

		
	Print Name:	 	 Sajal Srivastava

		
	Title:	 	 Chief Operating Officer

 [SIGNATURE PAGE TO WARRANT AGREEMENT 0693-W-01] 

  
 Warrant (Loan) 0693-W-01

 10 

 EXHIBIT I 
 NOTICE OF EXERCISE 
  

	To:	[                           
             ] 

  

	1.	We hereby elect to purchase [            ] shares of the Series
[            ] Preferred Stock of [                    ], pursuant to the terms of the
Plain English Warrant Agreement dated the [            ] day of [    ], [200    ] (the “Plain English Warrant Agreement”) between You and
Us, We hereby tender here payment of the purchase price for such shares in full, together with all applicable transfer taxes, if any. 

  

	2.	Method of Exercise (Please initial the applicable blank) 

  

	 	a.	The undersigned elects to exercise the Plain English Warrant Agreement by means of a cash payment, and gives You full payment for the purchase price of the shares being
purchased, together with all applicable transfer taxes, if any. 

  

	 	b.	The undersigned elects to exercise the Plain English Warrant Agreement by means of the Net Issuance Exercise method of Section 3 of the Plain English Warrant
Agreement. 

  

	3.	In exercising Our rights to purchase the Series [            ] Preferred Stock of
[                                        ], We
hereby confirm and acknowledge the investment representations, warranties and covenants made in Section 7 of the Plain English Warrant Agreement. 

 Please issue a certificate or certificates representing these purchased shares of Series [            ] Preferred Stock in Our name or in such
other name as is specified below. 
  

			
	  

	(Name)
	
	  

	(Address)
		
	US:	 	TRIPLEPOINT CAPITAL LLC
		
	By:	 	  

		
	Title:	 	  

		
	Date:	 	  

  
 Warrant (Loan) 0693-W-01

 11 

 EXHIBIT II 
 ACKNOWLEDGMENT OF EXERCISE 

[                         
               ], hereby acknowledges receipt of the “Notice of Exercise” from TRIPLEPOINT CAPITAL LLC, to purchase
[            ] shares of the Series [            ] Preferred Stock of
[                    ], pursuant to the terms of the Plain English Warrant Agreement, and further acknowledges that
[            ] shares remain subject to purchase under the terms of the Plain English Warrant Agreement. 
  

							
	YOU:	 		 	  

				
		 		 	By:	 	  

				
		 		 	Title:	 	  

				
		 		 	Date:	 	  

  
 Warrant (Loan) 0693-W-01

 12 

 EXHIBIT III 
 TRANSFER NOTICE 
 FOR VALUE RECEIVED, the foregoing Plain English Warrant Agreement
and all rights evidenced thereby are hereby transferred and assigned to 
  

									
	  
	 		 	
	(Please Print)	 		 		 		 	
			
	Whose address is	 	  
	 	
		
	  
	 	

							
				
	Dated:	 	  
	 		 	
				
	Holder’s Signature:	 	  
	 		 	
				
	Holder’s Address:	 	  
	 		 	
				
	Transferee’s Signature:	 	  
	 		 	
				
	Transferee’s Address:	 	  
	 		 	
				
	Signature Guaranteed:	 	  
	 		 	

 NOTE: The signature to this Transfer Notice must correspond with the name as it appears on the face of the Plain
English Warrant Agreement, without alteration or enlargement or any change whatever. Officers of corporations and those acting in a fiduciary or other representative capacity should file proper evidence of authority to assign the foregoing Plain
English Warrant Agreement. 

  
 Warrant (Loan) 0693-W-01

 131998 Equity Incentive Plan, as amended

 Exhibit 10.2 
 GENOMATICA, INC. 
 1998
EQUITY INCENTIVE PLAN 
 ORIGINALLY ADOPTED
NOVEMBER 24, 1998 
 APPROVED BY SHAREHOLDERS
NOVEMBER 24, 1998 
 REVISED TO REFLECT A 6
TO 1 STOCK SPLIT EFFECTIVE AS OF MAY 4, 2000 
 AMENDED AS OF FEBRUARY 27, 2001 
 APPROVED BY SHAREHOLDERS AS OF FEBRUARY 27, 2001 

AMENDED AS OF AUGUST 5, 2005 

APPROVED BY SHAREHOLDERS AS OF AUGUST 30,
2005 
 AMENDED AS OF JULY 5, 2007 

APPROVED BY SHAREHOLDERS AS OF JULY 5,
2007 
 AMENDED AS OF SEPTEMBER 14, 2007 

APPROVED BY SHAREHOLDERS AS OF
SEPTEMBER 14, 2007 
 AMENDED AS OF
APRIL 4, 2008 
 APPROVED BY SHAREHOLDERS
AS OF APRIL 4, 2008 
 TERMINATION DATE:
NOVEMBER 23, 2008 
 (AMENDED AND RESTATED
BY THE GENOMATICA, INC. 2008 EQUITY INCENTIVE PLAN ADOPTED 

BY THE COMPANY’S BOARD ON
AUGUST 15, 2008 AND APPROVED 
 BY THE
COMPANY’S STOCKHOLDERS 
 ON
SEPTEMBER 29, 2008.) 
  

	1.	PURPOSES. 

(a) Eligible Stock Award Recipients. The persons eligible to receive Stock Awards are the Employees, Directors and
Consultants of the Company and its Affiliates. 
 (b) Available Stock Awards. The purpose of the Plan is to
provide a means by which eligible recipients of Stock Awards may be given an opportunity to benefit from increases in value of the Common Stock through the granting of the following Stock Awards: (i) Incentive Stock Options,
(ii) Nonstatutory Stock Options, (iii) stock bonuses and (iv) rights to acquire restricted stock. 
 (c)
General Purpose. The Company, by means of the Plan, seeks to retain the services of the group of persons eligible to receive Stock Awards, to secure and retain the services of new members of this group and to provide incentives for such
persons to exert maximum efforts for the success of the Company and its Affiliates. 
  

	2.	DEFINITIONS. 

 (a) “Affiliate” means any parent corporation or subsidiary corporation of the Company, whether now or hereafter existing, as those terms are defined in Sections 424(e) and
(f), respectively, of the Code. 
 (b) “Board” means the Board of Directors of the Company.

  
 1 

 (c) “Code” means the Internal Revenue Code of 1986, as
amended. 
 (d) “Committee” means a Committee appointed by the Board in accordance with
subsection 3(c). 
 (e) “Common Stock” means the common stock of the Company. 

(f) “Company” means Genomatica, Inc., a Delaware corporation. 

(g) “Consultant” means any person, including an advisor, (i) engaged by the Company or an Affiliate
to render consulting or advisory services and who is compensated for such services or (ii) who is a member of the Board of Directors of an Affiliate. However, the term “Consultant” shall not include either Directors of the Company who
are not compensated by the Company for their services as Directors or Directors of the Company who are merely paid a director’s fee by the Company for their services as Directors. 

(h) “Continuous Service” means that the Participant’s service with the Company or an Affiliate,
whether as an Employee, Director or Consultant, is not interrupted or terminated. The Participant’s Continuous Service shall not be deemed to have terminated merely because of a change in the capacity in which the Participant renders service to
the Company or an Affiliate as an Employee, Consultant or Director or a change in the entity for which the Participant renders such service, provided that there is no interruption or termination of the Participant’s Continuous Service. For
example, a change in status from an Employee of the Company to a Consultant of an Affiliate or a Director of the Company will not constitute an interruption of Continuous Service. The Board or the chief executive officer of the Company, in that
party’s sole discretion, may determine whether Continuous Service shall be considered interrupted in the case of any leave of absence approved by that party, including sick leave, military leave or any other personal leave. 

(i) “Covered Employee” means the chief executive officer and the four (4) other highest compensated
officers of the Company for whom total compensation is required to be reported to shareholders under the Exchange Act, as determined for purposes of Section 162(m) of the Code. 

(j) “Director” means a member of the Board of Directors of the Company. 

(k) “Disability” means (i) before the Listing Date, the inability of a person, in the opinion of a
qualified physician acceptable to the Company, to perform the major duties of that person’s position with the Company or an Affiliate of the Company because of the sickness or injury of the person and (ii) after the Listing Date, the
permanent and total disability of a person within the meaning of Section 22(e)(3) of the Code. 
 (l)
“Employee” means any person employed by the Company or an Affiliate. Mere service as a Director or payment of a director’s fee by the Company or an Affiliate shall not be sufficient to constitute “employment”
by the Company or an Affiliate. 

  
 2 

 (m) “Exchange Act” means the Securities Exchange Act of 1934,
as amended. 
 (n) “Fair Market Value” means, as of any date, the value of the Common
Stock determined as follows: 
 (i) If the Common Stock is listed on any established stock exchange or
traded on the Nasdaq National Market or the Nasdaq SmallCap Market, the Fair Market Value of a share of Common Stock shall be the closing sales price for such stock (or the closing bid, if no sales were reported) as quoted on such exchange or market
(or the exchange or market with the greatest volume of trading in the Common Stock) on the last market trading day prior to the day of determination, as reported in The Wall Street Journal or such other source as the Board deems
reliable. 
 (ii) In the absence of such markets for the Common Stock, the Fair Market Value shall be
determined in good faith by the Board. 
 (iii) Prior to the Listing Date, the value of the Common Stock
shall be determined in a manner consistent with Section 260.140.50 of Title 10 of the California Code of Regulations. 

(o) “Incentive Stock Option” means an Option intended to qualify as an incentive stock option within the
meaning of Section 422 of the Code and the regulations promulgated thereunder. 
 (p) “Listing
Date” means the first date upon which any security of the Company is listed (or approved for listing) upon notice of issuance on any securities exchange or designated (or approved for designation) upon notice of issuance as a national
market security on an interdealer quotation system if such securities exchange or interdealer quotation system has been certified in accordance with the provisions of Section 25100(o) of the California Corporate Securities Law of 1968.

 (q) “Non-Employee Director” means a Director of the Company who either (i) is not a
current Employee or Officer of the Company or its parent or a subsidiary, does not receive compensation (directly or indirectly) from the Company or its parent or a subsidiary for services rendered as a consultant or in any capacity other than as a
Director (except for an amount as to which disclosure would not be required under Item 404(a) of Regulation S-K promulgated pursuant to the Securities Act (“Regulation S-K”)), does not possess an interest in any other transaction as
to which disclosure would be required under Item 404(a) of Regulation S-K and is not engaged in a business relationship as to which disclosure would be required under Item 404(b) of Regulation S-K; or (ii) is otherwise considered a
“non-employee director” for purposes of Rule 16b-3. 
 (r) “Nonstatutory Stock Option”
means an Option not intended to qualify as an Incentive Stock Option. 

  
 3 

 (s) “Officer” means (i) before the Listing Date, any
person designated by the Company as an officer and (ii) on and after the Listing Date, a person who is an officer of the Company within the meaning of Section 16 of the Exchange Act and the rules and regulations promulgated thereunder.

 (t) “Option” means an Incentive Stock Option or a Nonstatutory Stock Option granted pursuant
to the Plan. 
 (u) “Option Agreement” means a written agreement between the Company and an
Optionholder evidencing the terms and conditions of an individual Option grant. Each Option Agreement shall be subject to the terms and conditions of the Plan. 
 (v) “Optionholder” means a person to whom an Option is granted pursuant to the Plan or, if applicable, such other person who holds an outstanding Option. 

(w) “Outside Director” means a Director of the Company who either (i) is not a current employee of
the Company or an “affiliated corporation” (within the meaning of Treasury Regulations promulgated under Section 162(m) of the Code), is not a former employee of the Company or an “affiliated corporation” receiving
compensation for prior services (other than benefits under a tax qualified pension plan), was not an officer of the Company or an “affiliated corporation” at any time and is not currently receiving direct or indirect remuneration from the
Company or an “affiliated corporation” for services in any capacity other than as a Director or (ii) is otherwise considered an “outside director” for purposes of Section 162(m) of the Code. 

(x) “Participant” means a person to whom a Stock Award is granted pursuant to the Plan or, if applicable,
such other person who holds an outstanding Stock Award. 
 (y) “Plan” means this Genomatica, Inc.
1998 Equity Incentive Plan. 
 (z) “Rule 16b-3” means Rule 16b-3 promulgated under the Exchange
Act or any successor to Rule 16b-3, as in effect from time to time. 
 (aa) “Securities Act”
means the Securities Act of 1933, as amended. 
 (bb) “Stock Award” means any right granted under
the Plan, including an Option, a stock bonus and a right to acquire restricted stock. 
 (cc) “Stock Award
Agreement” means a written agreement between the Company and a holder of a Stock Award evidencing the terms and conditions of an individual Stock Award grant. Each Stock Award Agreement shall be subject to the terms and conditions of
the Plan. 
 (dd) “Ten Percent Shareholder” means a person who owns (or is deemed to own pursuant
to Section 424(d) of the Code) stock possessing more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or of any of its Affiliates. 

  
 4 

	3.	ADMINISTRATION. 

 (a) Administration by Board. The Board shall administer the Plan unless and until the Board delegates administration to a Committee, as provided in subsection 3(c). 

(b) Powers of Board. The Board shall have the power, subject to, and within the limitations of, the express provisions of
the Plan: 
 (i) To determine from time to time which of the persons eligible under the Plan shall be
granted Stock Awards; when and how each Stock Award shall be granted; what type or combination of types of Stock Award shall be granted; the provisions of each Stock Award granted (which need not be identical), including the time or times when a
person shall be permitted to receive stock pursuant to a Stock Award; and the number of shares with respect to which a Stock Award shall be granted to each such person. 

(ii) To construe and interpret the Plan and Stock Awards granted under it, and to establish, amend and revoke rules
and regulations for its administration. The Board, in the exercise of this power, may correct any defect, omission or inconsistency in the Plan or in any Stock Award Agreement, in a manner and to the extent it shall deem necessary or expedient to
make the Plan fully effective. 
 (iii) To amend the Plan or a Stock Award as provided in Section 12.

 (iv) Generally, to exercise such powers and to perform such acts as the Board deems necessary or
expedient to promote the best interests of the Company which are not in conflict with the provisions of the Plan. 
 (c)
Delegation to Committee. 
 (i) General. The Board may delegate administration of the Plan to a
Committee or Committees of one or more members of the Board, and the term “Committee” shall apply to any person or persons to whom such authority has been delegated. If administration is delegated to a Committee, the Committee shall have,
in connection with the administration of the Plan, the powers theretofore possessed by the Board, including the power to delegate to a subcommittee any of the administrative powers the Committee is authorized to exercise (and references in this Plan
to the Board shall thereafter be to the Committee or subcommittee), subject, however, to such resolutions, not inconsistent with the provisions of the Plan, as may be adopted from time to time by the Board. The Board may abolish the Committee at any
time and revest in the Board the administration of the Plan. 
 (ii) Committee Composition when Common
Stock is Publicly Traded. At such time as the Common Stock is publicly traded, in the discretion of the Board, a Committee may consist solely of two or more Outside Directors, in accordance with Section 162(m) of the Code, and/or solely of
two or more Non-Employee Directors, in accordance with Rule 16b-3. Within the scope of such authority, the Board or the Committee may (i) delegate to a committee of one or more members of the Board who are not Outside Directors the authority to
grant Stock 

  
 5 

 
Awards to eligible persons who are either (1) not then Covered Employees and are not expected to be Covered Employees at the time of recognition of income resulting from such Stock Award or
(2) not persons with respect to whom the Company wishes to comply with Section 162(m) of the Code and/or) (ii) delegate to a committee of one or more members of the Board who are not Non-Employee Directors the authority to grant Stock
Awards to eligible persons who are not then subject to Section 16 of the Exchange Act. 
  

	4.	SHARES SUBJECT TO THE PLAN. 

(a) Share Reserve. Subject to the provisions of Section 11 relating to adjustments upon changes in stock, the stock
that may be issued pursuant to Stock Awards shall not exceed in the aggregate seven million nine hundred twenty thousand (7,920,000) shares of Common Stock. 
 (b) Reversion of Shares to the Share Reserve. If any Stock Award shall for any reason expire or otherwise terminate, in whole or in part, without having been exercised in full (or vested in
the case of Restricted Stock), the stock not acquired under such Stock Award shall revert to and again become available for issuance under the Plan. If any Common Stock acquired pursuant to the exercise of an Option shall for any reason be
repurchased by the Company under an unvested share repurchase option provided under the Plan, the stock repurchased by the Company under such repurchase option shall not revert to and again become available for issuance under the Plan. 

(c) Source of Shares. The stock subject to the Plan may be unissued shares or reacquired shares, bought on the market or
otherwise. 
 (d) Share Reserve Limitation. Prior to the Listing Date, at no time shall the total number of shares
issuable upon exercise of all outstanding Options and the total number of shares provided for under any stock bonus or similar plan of the Company exceed the applicable percentage as calculated in accordance with the conditions and exclusions of
Section 260.140.45 of Title 10 of the California Code of Regulations, based on the shares of the Company which are outstanding at the time the calculation is made. 

 

	5.	ELIGIBILITY. 

 (a) Eligibility for Specific Stock Awards. Incentive Stock Options may be granted only to Employees. Stock Awards other than Incentive Stock Options may be granted to Employees, Directors
and Consultants. 
 (b) Ten Percent Shareholders. No Ten Percent Shareholder shall be eligible for the grant of an
Incentive Stock Option unless the exercise price of such Option is at least one hundred ten percent (110%) of the Fair Market Value of the Common Stock at the date of grant and the Option is not exercisable after the expiration of five
(5) years from the date of grant. 
 Prior to the Listing Date, no Ten Percent Shareholder shall be eligible
for the grant of a Nonstatutory Stock Option unless the exercise price of such Option is at least one hundred ten percent (110%) of the Fair Market Value of the Common Stock at the date of grant. 

  
 6 

 Prior to the Listing Date, no Ten Percent Shareholder shall be eligible for
a restricted stock award unless the purchase price of the restricted stock is at least one hundred percent (100%) of the Fair Market Value of the Common Stock at the date of grant. 

(c) Section 162(m) Limitation. Subject to the provisions of Section 11 relating to adjustments upon changes in
stock, no employee shall be eligible to be granted Options covering more than three million (3,000,000) shares of the Common Stock during any calendar year. This subsection 5(c) shall not apply prior to the Listing Date and, following the
Listing Date, this subsection 5(c) shall not apply until (i) the earliest of: (1) the first material modification of the Plan (including any increase in the number of shares reserved for issuance under the Plan in accordance with
Section 4); (2) the issuance of all of the shares of Common Stock reserved for issuance under the Plan; (3) the expiration of the Plan; or (4) the first meeting of shareholders at which Directors of the Company are to be elected
that occurs after the close of the third calendar year following the calendar year in which occurred the first registration of an equity security under Section 12 of the Exchange Act; or (ii) such other date required by Section 162(m)
of the Code and the rules and regulations promulgated thereunder. 
  

	6.	OPTION PROVISIONS. 

 Each Option shall be in such form and shall contain such terms and conditions as the Board shall deem appropriate. All Options shall be separately designated Incentive Stock Options or Nonstatutory Stock
Options at the time of grant, and a separate certificate or certificates will be issued for shares purchased on exercise of each type of Option. The provisions of separate Options need not be identical, but each Option shall include (through
incorporation of provisions hereof by reference in the Option or otherwise) the substance of each of the following provisions: 

(a) Term. Subject to the provisions of subsection 5(b) regarding Ten Percent Shareholders, no Option shall be exercisable
after the expiration of ten (10) years from the date it was granted. 
 (b) Exercise Price of an Incentive Stock
Option. Subject to the provisions of subsection 5(b) regarding Ten Percent Shareholders, the exercise price of each Incentive Stock Option shall be not less than one hundred percent (100%) of the Fair Market Value of the stock subject to
the Option on the date the Option is granted. Notwithstanding the foregoing, an Incentive Stock Option may be granted with an exercise price lower than that set forth in the preceding sentence if such Option is granted pursuant to an assumption or
substitution for another option in a manner satisfying the provisions of Section 424(a) of the Code. 
 (c)
Exercise Price of a Nonstatutory Stock Option. Subject to the provisions of subsection 5(b) regarding Ten Percent Shareholders, the exercise price of each Nonstatutory Stock Option granted prior to the Listing Date shall be not less than
eighty-five percent (85%) of the Fair Market Value of the stock subject to the Option on the date the Option is granted. The exercise price of each Nonstatutory Stock Option granted on or after the Listing Date shall be not less than
eighty-five percent (85%) of the Fair Market Value of the stock subject to the Option on the date the Option is granted. Notwithstanding the foregoing, a Nonstatutory Stock Option 

  
 7 

 
may be granted with an exercise price lower than that set forth in the preceding sentence if such Option is granted pursuant to an assumption or substitution for another option in a manner
satisfying the provisions of Section 424(a) of the Code. 
 (d) Consideration. The purchase price of stock
acquired pursuant to an Option shall be paid, to the extent permitted by applicable statutes and regulations, either (i) in cash at the time the Option is exercised or (ii) at the discretion of the Board at the time of the grant of the
Option (or subsequently in the case of a Nonstatutory Stock Option) by (1) delivery to the Company of other Common Stock, (2) according to a deferred payment or other arrangement (which may include, without limiting the generality of the
foregoing, the use of other Common Stock) with the Participant that is approved by the Board or (3) in any other form of legal consideration that may be acceptable to the Board; provided, however, that at any time that the Company is
incorporated in Delaware, payment of the Common Stock’s “par value,” as defined in the Delaware General Corporation Law, shall not be made by deferred payment. 
 In the case of any deferred payment arrangement, interest shall be compounded at least annually and shall be charged at the minimum rate of interest necessary to avoid the treatment as interest, under any
applicable provisions of the Code, of any amounts other than amounts stated to be interest under the deferred payment arrangement. 
 (e) Transferability of an Incentive Stock Option. An Incentive Stock Option shall not be transferable except by will or by the laws of descent and distribution and shall be exercisable
during the lifetime of the Optionholder only by the Optionholder. Notwithstanding the foregoing provisions of this subsection 6(e), the Optionholder may, by delivering written notice to the Company, in a form satisfactory to the Company, designate a
third party who, in the event of the death of the Optionholder, shall thereafter be entitled to exercise the Option. 

(f) Transferability of a Nonstatutory Stock Option. A Nonstatutory Stock Option granted prior to the Listing Date shall not
be transferable except by will or by the laws of descent and distribution and shall be exercisable during the lifetime of the Optionholder only by the Optionholder. A Nonstatutory Stock Option granted on or after the Listing Date shall be
transferable to the extent provided in the Option Agreement. If the Nonstatutory Stock Option does not provide for transferability, then the Nonstatutory Stock Option shall not be transferable except by will or by the laws of descent and
distribution and shall be exercisable during the lifetime of the Optionholder only by the Optionholder. Notwithstanding the foregoing provisions of this subsection 6(f), the Optionholder may, by delivering written notice to the Company, in a form
satisfactory to the Company, designate a third party who, in the event of the death of the Optionholder, shall thereafter be entitled to exercise the Option. 
 (g) Vesting Generally. The total number of shares of Common Stock subject to an Option may, but need not, vest and therefore become exercisable in periodic installments which may, but need
not, be equal. The Option may be subject to such other terms and conditions on the time or times when it may be exercised (which may be based on performance or other criteria) as the Board may deem appropriate. The vesting provisions of individual
Options may vary. The provisions of this subsection 6(g) are subject to any Option provisions governing the minimum number of shares as to which an Option may be exercised. 

  
 8 

 (h) Minimum Vesting Prior to the Listing Date. Notwithstanding the foregoing
subsection 6(g), Options granted prior to the Listing Date shall provide for vesting of the total number of shares at a rate of at least twenty percent (20%) per year over five (5) years from the date the Option was granted, subject to
reasonable conditions such as continued employment. However, in the case of such Options granted to Officers, Directors or Consultants, the Option may become fully exercisable, subject to reasonable conditions such as continued employment, at any
time or during any period established by the Company; for example, the vesting provision of the Option may provide for vesting of less than twenty percent (20%) per year of the total number of shares subject to the Option. 

(i) Termination of Continuous Service. In the event an Optionholder’s Continuous Service terminates (other than upon
the Optionholder’s death or Disability), the Optionholder may exercise his or her Option (to the extent that the Optionholder was entitled to exercise it as of the date of termination) but only within such period of time ending on the earlier
of (i) the date three (3) months following the termination of the Optionholder’s Continuous Service (or such longer or shorter period specified in the Option Agreement, which, for Options granted prior to the Listing Date, shall not
be less than thirty (30) days, unless such termination is for cause), or (ii) the expiration of the term of the Option as set forth in the Option Agreement. If, after termination, the Optionholder does not exercise his or her Option within
the time specified in the Option Agreement, the Option shall terminate. 
 (j) Extension of Termination Date. An
Optionholder’s Option Agreement may also provide that if the exercise of the Option following the termination of the Optionholder’s Continuous Service (other than upon the Optionholder’s death or Disability) would be prohibited at any
time solely because the issuance of shares would violate the registration requirements under the Securities Act, then the Option shall terminate on the earlier of (i) the expiration of the term of the Option set forth in subsection 6(a) or
(ii) the expiration of a period of three (3) months after the termination of the Optionholder’s Continuous Service during which the exercise of the Option would not be in violation of such registration requirements. 

(k) Disability of Optionholder. In the event an Optionholder’s Continuous Service terminates as a result of the
Optionholder’s Disability, the Optionholder may exercise his or her Option (to the extent that the Optionholder was entitled to exercise it as of the date of termination), but only within such period of time ending on the earlier of
(i) the date twelve (12) months following such termination (or such longer or shorter period specified in the Option Agreement, which, for Options granted prior to the Listing Date, shall not be less than six (6) months) or
(ii) the expiration of the term of the Option as set forth in the Option Agreement. If, after termination, the Optionholder does not exercise his or her Option within the time specified herein, the Option shall terminate. 

(l) Death of Optionholder. In the event (i) an Optionholder’s Continuous Service terminates as a result of the
Optionholder’s death or (ii) the Optionholder dies within the period (if any) specified in the Option Agreement after the termination of the Optionholder’s Continuous Service for a reason other than death, then the Option may be
exercised (to the extent the Optionholder was entitled to exercise the Option as of the date of death) by the 

  
 9 

 
Optionholder’s estate, by a person who acquired the right to exercise the Option by bequest or inheritance or by a person designated to exercise the option upon the Optionholder’s death
pursuant to subsection 6(e) or 6(f), but only within the period ending on the earlier of (1) the date eighteen (18) months following the date of death (or such longer or shorter period specified in the Option Agreement, which, for Options
granted prior to the Listing Date, shall not be less than six (6) months) or (2) the expiration of the term of such Option as set forth in the Option Agreement. If, after death, the Option is not exercised within the time specified herein,
the Option shall terminate. 
 (m) Early Exercise. The Option may, but need not, include a provision whereby the
Optionholder may elect at any time before the Optionholder’s Continuous Service terminates to exercise the Option as to any part or all of the shares subject to the Option prior to the full vesting of the Option. Subject to the “Repurchase
Limitation” in subsection 10(h), any unvested shares so purchased may be subject to an unvested share repurchase option in favor of the Company or to any other restriction the Board determines to be appropriate. 

(n) Right of Repurchase. Subject to the “Repurchase Limitation” in subsection 10(h), the Option may, but need
not, include a provision whereby the Company may elect, prior to the Listing Date, to repurchase all or any part of the vested shares acquired by the Optionholder pursuant to the exercise of the Option. 

(o) Right of First Refusal. The Option may, but need not, include a provision whereby the Company may elect, prior to the
Listing Date, to exercise a right of first refusal following receipt of notice from the Optionholder of the intent to transfer all or any part of the shares exercised pursuant to the Option. Except as expressly provided in this subsection 6(o), such
right of first refusal shall otherwise comply with any applicable provisions of the Bylaws of the Company. 
 (p)
Re-Load Options. Without in any way limiting the authority of the Board to make or not to make grants of Options hereunder, the Board shall have the authority (but not an obligation) to include as part of any Option Agreement a provision
entitling the Optionholder to a further Option (a “Re-Load Option”) in the event the Optionholder exercises the Option evidenced by the Option Agreement, in whole or in part, by surrendering other shares of Common Stock in accordance with
this Plan and the terms and conditions of the Option Agreement. Any such Re-Load Option shall (i) provide for a number of shares equal to the number of shares surrendered as part or all of the exercise price of such Option; (ii) have an
expiration date which is the same as the expiration date of the Option the exercise of which gave rise to such Re-Load Option; and (iii) have an exercise price which is equal to one hundred percent (100%) of the Fair Market Value of the
Common Stock subject to the Re-Load Option on the date of exercise of the original Option. Notwithstanding the foregoing, a Re-Load Option shall be subject to the same exercise price and term provisions heretofore described for Options under the
Plan. 
 Any such Re-Load Option may be an Incentive Stock Option or a Nonstatutory Stock Option, as the Board
may designate at the time of the grant of the original Option; provided, however, that the designation of any Re-Load Option as an Incentive Stock Option 

  
 10 

 
shall be subject to the one hundred thousand dollars ($100,000) annual limitation on exercisability of Incentive Stock Options described in subsection 10(d) and in Section 422(d) of the
Code. There shall be no Re-Load Options on a Re-Load Option. Any such Re-Load Option shall be subject to the availability of sufficient shares under subsection 4(a) and the “Section 162(m) Limitation” on the grants of Options under
subsection 5(c) and shall be subject to such other terms and conditions as the Board may determine which are not inconsistent with the express provisions of the Plan regarding the terms of Options. 

 

	7.	PROVISIONS OF STOCK AWARDS OTHER THAN OPTIONS.

 (a) Stock Bonus Awards. Each stock bonus agreement shall be in such form and shall contain
such terms and conditions as the Board shall deem appropriate. The terms and conditions of stock bonus agreements may change from time to time, and the terms and conditions of separate stock bonus agreements need not be identical, but each stock
bonus agreement shall include (through incorporation of provisions hereof by reference in the agreement or otherwise) the substance of each of the following provisions: 

(i) Consideration. A stock bonus shall be awarded in consideration for past services actually rendered to
the Company for its benefit. 
 (ii) Vesting. Subject to the “Repurchase Limitation” in
subsection 10(h), shares of Common Stock awarded under the stock bonus agreement may, but need not, be subject to a share repurchase option in favor of the Company in accordance with a vesting schedule to be determined by the Board. 

(iii) Termination of Participant’s Continuous Service. Subject to the “Repurchase Limitation”
in subsection 10(h), in the event a Participant’s Continuous Service terminates, the Company may reacquire any or all of the shares of Common Stock held by the Participant which have not vested as of the date of termination under the terms of
the stock bonus agreement. 
 (iv) Transferability. For a stock bonus award made before the Listing
Date, rights to acquire shares under the stock bonus agreement shall not be transferable except by will or by the laws of descent and distribution and shall be exercisable during the lifetime of the Participant only by the Participant. For a stock
bonus award made on or after the Listing Date, rights to acquire shares under the stock bonus agreement shall be transferable by the Participant only upon such terms and conditions as are set forth in the stock bonus agreement, as the Board shall
determine in its discretion, so long as stock awarded under the stock bonus agreement remains subject to the terms of the stock bonus agreement. 
 (b) Restricted Stock Awards. Each restricted stock purchase agreement shall be in such form and shall contain such terms and conditions as the Board shall deem appropriate. The terms and
conditions of the restricted stock purchase agreements may change from time to time, and the terms and conditions of separate restricted stock purchase agreements need not be identical, but each restricted stock purchase agreement shall include
(through incorporation of 

  
 11 

 
provisions hereof by reference in the agreement or otherwise) the substance of each of the following provisions: 

(i) Purchase Price. Subject to the provisions of subsection 5(b) regarding Ten Percent Shareholders, the
purchase price under each restricted stock purchase agreement shall be such amount as the Board shall determine and designate in such restricted stock purchase agreement. For restricted stock awards made prior to the Listing Date, the purchase price
shall not be less than eighty-five percent (85%) of the stock’s Fair Market Value on the date such award is made or at the time the purchase is consummated. For restricted stock awards made on or after the Listing Date, the purchase price
shall not be less than eighty-five percent (85%) of the stock’s Fair Market Value on the date such award is made or at the time the purchase is consummated. 

(ii) Consideration. The purchase price of stock acquired pursuant to the restricted stock purchase agreement
shall be paid either: (i) in cash at the time of purchase; (ii) at the discretion of the Board, according to a deferred payment or other arrangement with the Participant; or (iii) in any other form of legal consideration that may be
acceptable to the Board in its discretion; provided, however, that at any time that the Company is incorporated in Delaware, then payment of the Common Stock’s “par value,” as defined in the Delaware General Corporation Law, shall not
be made by deferred payment. 
 (iii) Vesting. Subject to the “Repurchase Limitation” in
subsection 10(h), shares of Common Stock acquired under the restricted stock purchase agreement may, but need not, be subject to a share repurchase option in favor of the Company in accordance with a vesting schedule to be determined by the Board.

 (iv) Termination of Participant’s Continuous Service. Subject to the “Repurchase
Limitation” in subsection 10(h), in the event a Participant’s Continuous Service terminates, the Company may repurchase or otherwise reacquire any or all of the shares of Common Stock held by the Participant which have not vested as of the
date of termination under the terms of the restricted stock purchase agreement. 
 (v)
Transferability. For a restricted stock award made before the Listing Date, rights to acquire shares under the restricted stock purchase agreement shall not be transferable except by will or by the laws of descent and distribution and shall
be exercisable during the lifetime of the Participant only by the Participant. For a restricted stock award made on or after the Listing Date, rights to acquire shares under the restricted stock purchase agreement shall be transferable by the
Participant only upon such terms and conditions as are set forth in the restricted stock purchase agreement, as the Board shall determine in its discretion, so long as stock awarded under the restricted stock purchase agreement remains subject to
the terms of the restricted stock purchase agreement. 

  
 12 

	8.	COVENANTS OF THE COMPANY. 

(a) Availability of Shares. During the terms of the Stock Awards, the Company shall keep available at all times the number
of shares of Common Stock required to satisfy such Stock Awards. 
 (b) Securities Law Compliance. The Company
shall seek to obtain from each regulatory commission or agency having jurisdiction over the Plan such authority as may be required to grant Stock Awards and to issue and sell shares of Common Stock upon exercise of the Stock Awards; provided,
however, that this undertaking shall not require the Company to register under the Securities Act the Plan, any Stock Award or any stock issued or issuable pursuant to any such Stock Award. If, after reasonable efforts, the Company is unable to
obtain from any such regulatory commission or agency the authority which counsel for the Company deems necessary for the lawful issuance and sale of stock under the Plan, the Company shall be relieved from any liability for failure to issue and sell
stock upon exercise of such Stock Awards unless and until such authority is obtained. 
  

	9.	USE OF PROCEEDS FROM STOCK. 

Proceeds from the sale of stock pursuant to Stock Awards shall constitute general funds of the Company. 

 

	10.	MISCELLANEOUS. 

 (a) Acceleration of Exercisability and Vesting. The Board shall have the power to accelerate the time at which a Stock Award may first be exercised or the time during which a Stock Award or
any part thereof will vest in accordance with the Plan, notwithstanding the provisions in the Stock Award stating the time at which it may first be exercised or the time during which it will vest. 

(b) Shareholder Rights. No Participant shall be deemed to be the holder of, or to have any of the rights of a holder with
respect to, any shares subject to such Stock Award unless and until such Participant has satisfied all requirements for exercise of the Stock Award pursuant to its terms. 
 (c) No Employment or other Service Rights. Nothing in the Plan or any instrument executed or Stock Award granted pursuant thereto shall confer upon any Participant or other holder of Stock
Awards any right to continue to serve the Company or an Affiliate in the capacity in effect at the time the Stock Award was granted or shall affect the right of the Company or an Affiliate to terminate (i) the employment of an Employee with or
without notice and with or without cause, (ii) the service of a Consultant pursuant to the terms of such Consultant’s agreement with the Company or an Affiliate or (iii) the service of a Director pursuant to the Bylaws of the Company
or an Affiliate, and any applicable provisions of the corporate law of the state in which the Company or the Affiliate is incorporated, as the case may be. 

  
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 (d) Incentive Stock Option $100,000 Limitation. To the extent that the
aggregate Fair Market Value (determined at the time of grant) of stock with respect to which Incentive Stock Options are exercisable for the first time by any Optionholder during any calendar year (under all plans of the Company and its Affiliates)
exceeds one hundred thousand dollars ($100,000), the Options or portions thereof which exceed such limit (according to the order in which they were granted) shall be treated as Nonstatutory Stock Options. 

(e) Investment Assurances. The Company may require a Participant, as a condition of exercising or acquiring stock under any
Stock Award, (i) to give written assurances satisfactory to the Company as to the Participant’s knowledge and experience in financial and business matters and/or to employ a purchaser representative reasonably satisfactory to the Company
who is knowledgeable and experienced in financial and business matters and that he or she is capable of evaluating, alone or together with the purchaser representative, the merits and risks of exercising the Stock Award; and (ii) to give
written assurances satisfactory to the Company stating that the Participant is acquiring the stock subject to the Stock Award for the Participant’s own account and not with any present intention of selling or otherwise distributing the stock.
The foregoing requirements, and any assurances given pursuant to such requirements, shall be inoperative if (iii) the issuance of the shares upon the exercise or acquisition of stock under the Stock Award has been registered under a then
currently effective registration statement under the Securities Act or (iv) as to any particular requirement, a determination is made by counsel for the Company that such requirement need not be met in the circumstances under the then
applicable securities laws. The Company may, upon advice of counsel to the Company, place legends on stock certificates issued under the Plan as such counsel deems necessary or appropriate in order to comply with applicable securities laws,
including, but not limited to, legends restricting the transfer of the stock. 
 (f) Withholding Obligations. To
the extent provided by the terms of a Stock Award Agreement, the Participant may satisfy any federal, state or local tax withholding obligation relating to the exercise or acquisition of stock under a Stock Award by any of the following means (in
addition to the Company’s right to withhold from any compensation paid to the Participant by the Company) or by a combination of such means: (i) tendering a cash payment; (ii) authorizing the Company to withhold shares from the shares
of the Common Stock otherwise issuable to the participant as a result of the exercise or acquisition of stock under the Stock Award; or (iii) delivering to the Company owned and unencumbered shares of the Common Stock. 

(g) Information Obligation. Prior to the Listing Date, to the extent required by Section 260.140.46 of Title 10 of the
California Code of Regulations, the Company shall deliver financial statements to Participants at least annually. This subsection 10(g) shall not apply to key Employees whose duties in connection with the Company assure them access to equivalent
information. 
 (h) Repurchase Limitation. The terms of any repurchase option shall be specified in the Stock
Award and may be either at Fair Market Value at the time of repurchase or at not less than the original purchase price. To the extent required by Section 260.140.41 and Section 

  
 14 

 
260.140.42 of Title 10 of the California Code of Regulations, any repurchase option contained in a Stock Award granted prior to the Listing Date to a person who is not an Officer, Director or
Consultant shall be upon the terms described below: 
 (i) Fair Market Value. If the repurchase
option gives the Company the right to repurchase the shares upon termination of employment at not less than the Fair Market Value of the shares to be purchased on the date of termination of Continuous Service, then (i) the right to repurchase
shall be exercised for cash or cancellation of purchase money indebtedness for the shares within ninety (90) days of termination of Continuous Service (or in the case of shares issued upon exercise of Stock Awards after such date of
termination, within ninety (90) days after the date of the exercise) or such longer period as may be agreed to by the Company and the Participant (for example, for purposes of satisfying the requirements of Section 1202(c)(3) of the Code
regarding “qualified small business stock”) and (ii) the right terminates when the shares become publicly traded. 
 (ii) Original Purchase Price. If the repurchase option gives the Company the right to repurchase the shares upon termination of Continuous Service at the original purchase price, then
(i) the right to repurchase at the original purchase price shall lapse at the rate of at least twenty percent (20%) of the shares per year over five (5) years from the date the Stock Award is granted (without respect to the date the
Stock Award was exercised or became exercisable) and (ii) the right to repurchase shall be exercised for cash or cancellation of purchase money indebtedness for the shares within ninety (90) days of termination of Continuous Service (or in
the case of shares issued upon exercise of Options after such date of termination, within ninety (90) days after the date of the exercise) or such longer period as may be agreed to by the Company and the Participant (for example, for purposes
of satisfying the requirements of Section 1202(c)(3) of the Code regarding “qualified small business stock”). 

(i) Cancellation and Re-Grant of Options. 
 (i) Authority to Reprice. The Board shall have the authority to effect, at any time and from time to time, (i) the repricing of any outstanding Options under the Plan and/or
(ii) with the consent of any adversely affected holders of Options, the cancellation of any outstanding Options under the Plan and the grant in substitution therefor of new Options under the Plan covering the same or different numbers of shares
of Common Stock. The exercise price per share shall be not less than that specified under the Plan for newly granted Stock Awards. Notwithstanding the foregoing, the Board may grant an Option with an exercise price lower than that set forth above if
such Option is granted as part of a transaction to which Section 424(a) of the Code applies. 
 (ii)
Effect of Repricing under Section 162(m) of the Code. Shares subject to an Option which is amended or canceled in order to set a lower exercise price per share shall continue to be counted against the maximum award of Options permitted
to be granted pursuant to subsection 5(c). The repricing of an Option under this subsection 10(i) resulting in a reduction of the exercise price shall be deemed to be a cancellation of the original Option and the grant of a substitute Option; in the
event of such repricing, both the original and the substituted Options shall be counted against the maximum awards of Options permitted to be granted pursuant to 

  
 15 

 
subsection 5(c). The provisions of this subsection 10(i)(b) shall be applicable only to the extent required by Section 162(m) of the Code. 

 

	11.	ADJUSTMENTS UPON CHANGES IN STOCK. 

(a) Capitalization Adjustments. If any change is made in the stock subject to the Plan, or subject to any Stock Award,
without the receipt of consideration by the Company (through merger, consolidation, reorganization, recapitalization, reincorporation, stock dividend, dividend in property other than cash, stock split, liquidating dividend, combination of shares,
exchange of shares, change in corporate structure or other transaction not involving the receipt of consideration by the Company), the Plan will be appropriately adjusted in the class(es) and maximum number of securities subject to the Plan pursuant
to subsection 4(a) and the maximum number of securities subject to award to any person pursuant to subsection 5(c), and the outstanding Stock Awards will be appropriately adjusted in the class(es) and number of securities and price per share of
stock subject to such outstanding Stock Awards. The Board, the determination of which shall be final, binding and conclusive, shall make such adjustments. (The conversion of any convertible securities of the Company shall not be treated as a
transaction “without receipt of consideration” by the Company.) 
 (b) Change in Control—Dissolution or
Liquidation. In the event of a dissolution or liquidation of the Company, then such Stock Awards shall be terminated if not exercised (if applicable) prior to such event. 
 (c) Change in Control—Asset Sale, Merger, Consolidation or Reverse Merger. In the event of (i) a sale of substantially all of the assets of the Company, (ii) a merger or
consolidation in which the Company is not the surviving corporation or (iii) a reverse merger in which the Company is the surviving corporation but the shares of Common Stock outstanding immediately preceding the merger are converted by virtue
of the merger into other property, whether in the form of securities, cash or otherwise, then any surviving corporation or acquiring corporation shall assume any Stock Awards outstanding under the Plan or shall substitute similar stock awards
(including an award to acquire the same consideration paid to the shareholders in the transaction described in this subsection 11(c) for those outstanding under the Plan. In the event any surviving corporation or acquiring corporation refuses to
assume such Stock Awards or to substitute similar stock awards for those outstanding under the Plan, then with respect to Stock Awards held by Participants whose Continuous Service has not terminated, the vesting of such Stock Awards (and, if
applicable, the time during which such Stock Awards may be exercised) shall be accelerated in full, and the Stock Awards shall terminate if not exercised (if applicable) at or prior to such event. With respect to any other Stock Awards outstanding
under the Plan, such Stock Awards shall terminate if not exercised (if applicable) prior to such event. 
  

	12.	AMENDMENT OF THE PLAN AND STOCK AWARDS.

 (a) Amendment of Plan. The Board at any time, and from time to time, may amend the Plan.
However, except as provided in Section 11 relating to adjustments upon changes in stock, no amendment shall be effective unless approved by the shareholders of the Company to 

  
 16 

 
the extent shareholder approval is necessary to satisfy the requirements of Section 422 of the Code, Rule 16b-3 or any Nasdaq or securities exchange listing requirements. 

(b) Shareholder Approval. The Board may, in its sole discretion, submit any other amendment to the Plan for shareholder
approval, including, but not limited to, amendments to the Plan intended to satisfy the requirements of Section 162(m) of the Code and the regulations thereunder regarding the exclusion of performance-based compensation from the limit on
corporate deductibility of compensation paid to certain executive officers. 
 (c) Contemplated Amendments. It is
expressly contemplated that the Board may amend the Plan in any respect the Board deems necessary or advisable to provide eligible Employees with the maximum benefits provided or to be provided under the provisions of the Code and the regulations
promulgated thereunder relating to Incentive Stock Options and/or to bring the Plan and/or Incentive Stock Options granted under it into compliance therewith. 
 (d) No Impairment of Rights. Rights under any Stock Award granted before amendment of the Plan shall not be impaired by any amendment of the Plan unless (i) the Company requests the
consent of the Participant and (ii) the Participant consents in writing. 
 (e) Amendment of Stock Awards.
The Board at any time, and from time to time, may amend the terms of any one or more Stock Awards; provided, however, that the rights under any Stock Award shall not be impaired by any such amendment unless (i) the Company requests the consent
of the Participant and (ii) the Participant consents in writing. 
  

	13.	TERMINATION OR SUSPENSION OF THE PLAN. 

(a) Plan Term. The Board may suspend or terminate the Plan at any time. Unless sooner terminated, the Plan shall terminate
on the day before the tenth (10th) anniversary of the date the Plan is adopted by the Board or approved by the shareholders of the Company, whichever is earlier. No Stock Awards may be granted under the Plan while the Plan is suspended or after
it is terminated. 
 (b) No Impairment of Rights. Suspension or termination of the Plan shall not impair rights
and obligations under any Stock Award granted while the Plan is in effect except with the written consent of the Participant. 
  

	14.	EFFECTIVE DATE OF PLAN. 

The Plan shall become effective as determined by the Board, but no Stock Award shall be exercised (or, in the case of a stock bonus, shall
be granted) unless and until the Plan has been approved by the shareholders of the Company, which approval shall be within twelve (12) months before or after the date the Plan is adopted by the Board. 

  
 17 

 GENOMATICA, INC. 

(1998 EQUITY INCENTIVE PLAN) 

STOCK OPTION AGREEMENT 

(INCENTIVE AND NONSTATUTORY STOCK OPTIONS) 

Pursuant to the Stock Option Grant Notice (“Grant Notice”) and this Stock Option Agreement, GENOMATICA,
INC. (the “Company”) has granted you an option under its 1998 Equity Incentive Plan (the “Plan”) to purchase the number of shares of the Company’s Common Stock indicated in the Grant Notice at the exercise
price indicated in the Grant Notice. Defined terms not explicitly defined in this Stock Option Agreement but defined in the Plan shall have the same definitions as in the Plan. 

The details of your option are as follows: 
 1. VESTING. Subject to the limitations contained herein, your option will vest as provided in the Grant Notice, provided that vesting will cease upon the
termination of your Continuous Service. 
 2. NUMBER OF SHARES
AND EXERCISE PRICE. The number of shares subject to your option and your exercise price per share referenced in the Grant Notice may be adjusted from time to time for Capitalization
Adjustments, as provided in the Plan. 
 3. EXERCISE PRIOR TO
VESTING (“EARLY EXERCISE”). If permitted in the Grant Notice (i.e., the “Exercise Schedule” indicates that “Early Exercise” of your option is permitted) and subject to
the provisions of this option, you may elect at any time that is both (i) during the period of your Continuous Service and (ii) during the term of your option, to exercise all or part of your option, including the nonvested portion of your
option; provided, however, that: 
 (a) a partial exercise of your option shall be deemed to cover first
vested shares and then the earliest vesting installment of unvested shares; 
 (b) any shares so purchased
from installments which have not vested as of the date of exercise shall be subject to the purchase option in favor of the Company as described in the Company’s form of Early Exercise Stock Purchase Agreement; 

(c) you shall enter into the Company’s form of Early Exercise Stock Purchase Agreement with a vesting schedule
that will result in the same vesting as if no early exercise had occurred; and 
 (d) if your option is an
incentive stock option, then, as provided in the Plan, to the extent that the aggregate Fair Market Value (determined at the time of grant) of stock with respect to which your option plus all other incentive stock options you hold are exercisable
for the first time by you during any calendar year (under all plans of the Company and its Affiliates) exceeds one hundred thousand dollars ($100,000), the options or portions thereof that exceed

  
 1 

 
such limit (according to the order in which they were granted) shall be treated as nonstatutory stock options. 
 4. METHOD OF PAYMENT. Payment of the exercise price is due in full upon exercise of all or any part of your option. You may elect
to make payment of the exercise price in cash or by check or in any other manner permitted by the Grant Notice, which may include one or more of the following: 

(a) In the Company’s sole discretion at the time your option is exercised and provided that at the time of
exercise the Common Stock is publicly traded and quoted regularly in The Wall Street Journal, pursuant to a program developed under Regulation T as promulgated by the Federal Reserve Board which, prior to the issuance of Common Stock, results
in either the receipt of cash (or check) by the Company or the receipt of irrevocable instructions to pay the aggregate exercise price to the Company from the sales proceeds. 

(b) Provided that at the time of exercise the Common Stock is publicly traded and quoted regularly in The Wall
Street Journal, by delivery of already-owned shares of Common Stock that either have been held for the period required to avoid a charge to the Company’s reported earnings (generally six months) or were not acquired, directly or indirectly
from the Company, that are owned free and clear of any liens, claims, encumbrances or security interests, and that are valued at Fair Market Value on the date of exercise. “Delivery” for these purposes, in the sole discretion of the
Company at the time your option is exercised, shall include delivery to the Company of your attestation of ownership of such shares of Common Stock in a form approved by the Company. Notwithstanding the foregoing, your option may not be exercised by
tender to the Company of Common Stock to the extent such tender would constitute a violation of the provisions of any law, regulation or agreement restricting the redemption of the Company’s stock. 

5. WHOLE SHARES. Your option may only be exercised for whole shares.

 6. SECURITIES LAW COMPLIANCE. Notwithstanding
anything to the contrary contained herein, your option may not be exercised unless the shares issuable upon exercise of your option are then registered under the Securities Act or, if such shares are not then so registered, the Company has
determined that such exercise and issuance would be exempt from the registration requirements of the Securities Act. The exercise of your option must also comply with other applicable laws and regulations governing the option, and the option may not
be exercised if the Company determines that the exercise would not be in material compliance with such laws and regulations. 

7. TERM. The term of your option commences on the Date of Grant and expires upon the
earliest of the following: 
 (a) immediately upon the termination of your Continuous
Service for Cause; 
 (b) three (3) months after the termination of your Continuous Service for any
reason other than Cause, Disability or death, provided that if during any part of such three (3) 

  
 2 

 
month period the option is not exercisable solely because of the condition set forth in the preceding paragraph relating to “Securities Law Compliance,” the option shall not expire
until the earlier of the Expiration Date or until it shall have been exercisable for an aggregate period of three (3) months after the termination of your Continuous Service; 

(c) twelve (12) months after the termination of your Continuous Service due to Disability; 

(d) eighteen (18) months after your death if you die either during your Continuous Service or within three
(3) months after your Continuous Service terminates for reason other than Cause; 
 (e) the
Expiration Date indicated in the Grant Notice; or 
 (f) the tenth (10th) anniversary of the Date of
Grant. 
 For purposes of this option, “Cause” means your misconduct, including but not limited to: (i) your conviction of any
felony or any crime involving moral turpitude or dishonesty, (ii) your participation in a fraud or act of dishonesty against the Company, (iii) your conduct that, based upon a good faith and reasonable factual investigation and
determination by the Board, demonstrates your gross unfitness to serve, or (iv) your intentional, material violation of any contract between the Company and you or any statutory duty of yours to the Company that you do not correct within thirty
(30) days after written notice to you thereof. Your physical or mental disability shall not constitute “Cause.” 
 If your option
is an incentive stock option, note that, to obtain the federal income tax advantages associated with an “incentive stock option,” the Code requires that at all times beginning on the date of grant of the option and ending on the day three
(3) months before the date of the option’s exercise, you must be an employee of the Company or an Affiliate, except in the event of your death or your Disability. The Company has provided for extended exercisability of your option under
certain circumstances for your benefit (for example upon your disability), but cannot guarantee that your option will necessarily be treated as an “incentive stock option” if you provide services to the Company or an Affiliate as a
Consultant or Director or if you exercise your option more than three (3) months after the date your employment with the Company or an Affiliate terminates. 
 8. EXERCISE. 
 (a) You may exercise
the vested portion of your option (and the unvested portion of your option if the Grant Notice so permits) during its term by delivering a Notice of Exercise (in a form designated by the Company) together with the exercise price to the Secretary of
the Company, or to such other person as the Company may designate, during regular business hours, together with such additional documents as the Company may then require. 

(b) By exercising your option you agree that, as a condition to any exercise of your option, the Company may
require you to enter an arrangement providing for the payment by 

  
 3 

 
you to the Company of any tax withholding obligation of the Company arising by reason of (1) the exercise of your option, (2) the lapse of any substantial risk of forfeiture to which
the shares are subject at the time of exercise, or (3) the disposition of shares acquired upon such exercise. 
 (c) If your option is an incentive stock option, by exercising your option you agree that you will notify the Company in writing within fifteen (15) days after the date of any disposition of
any of the shares of the Common Stock issued upon exercise of your option that occurs within two (2) years after the date of your option grant or within one (1) year after such shares of Common Stock are transferred upon exercise of your
option. 
 (d) By exercising your option you agree that the Company (or a representative of the
underwriters) may, in connection with the first underwritten registration of the offering of any securities of the Company under the Securities Act, require that you not sell, dispose of, transfer, make any short sale of, grant any option for the
purchase of, or enter into any hedging or similar transaction with the same economic effect as a sale, any shares of Common Stock or other securities of the Company held by you, for a period of time specified by the underwriter(s) (not to exceed one
hundred eighty (180) days) following the effective date of the registration statement of the Company filed under the Securities Act. You further agree to execute and deliver such other agreements as may be reasonably requested by the Company
and/or the underwriter(s) which are consistent with the foregoing or which are necessary to give further effect thereto. In order to enforce the foregoing covenant, the Company may impose stop-transfer instructions with respect to your Common Stock
until the end of such period. 
 9. TRANSFERABILITY. Your option is not
transferable, except by will or by the laws of descent and distribution, and is exercisable during your life only by you. Notwithstanding the foregoing, by delivering written notice to the Company, in a form satisfactory to the Company, you may
designate a third party who, in the event of your death, shall thereafter be entitled to exercise your option. 
 10.
RIGHT OF FIRST REFUSAL/RIGHT OF REPURCHASE. Vested shares that are received upon exercise of your option are subject to
any right of first refusal that may be described in the Company’s bylaws in effect at such time the Company elects to exercise its right. The Company’s right of first refusal shall expire on the date of the first registration of an equity
security of the Company under Section 12 of the Exchange Act. In addition, to the extent provided in the Company’s bylaws as amended from time to time, the Company shall have the right to repurchase all or any part of the shares received
pursuant to the exercise of your option. 
 11. OPTION NOT A
SERVICE CONTRACT. Your option is not an employment or service contract, and nothing in your option shall be deemed to create in any way whatsoever any obligation on your part to continue in the employ
of the Company or an Affiliate, or of the Company or an Affiliate to continue your employment. In addition, nothing in your option shall obligate the Company or an Affiliate, their respective shareholders, Boards of Directors, Officers or Employees
to continue any relationship that you might have as a Director or Consultant for the Company or an Affiliate. 

  
 4 

 12. WITHHOLDING OBLIGATIONS. 

(a) At the time your option is exercised, in whole or in part, or at any time thereafter as requested by the
Company, you hereby authorize withholding from payroll and any other amounts payable to you, and otherwise agree to make adequate provision for (including by means of a “cashless exercise” pursuant to a program developed under Regulation T
as promulgated by the Federal Reserve Board to the extent permitted by the Company), any sums required to satisfy the federal, state, local and foreign tax withholding obligations of the Company or an Affiliate, if any, which arise in connection
with your option. 
 (b) Upon your request and subject to approval by the Company, in its sole
discretion, and compliance with any applicable conditions or restrictions of law, the Company may withhold from fully vested shares of Common Stock otherwise issuable to you upon the exercise of your option a number of whole shares having a Fair
Market Value, determined by the Company as of the date of exercise, not in excess of the minimum amount of tax required to be withheld by law. If the date of determination of any tax withholding obligation is deferred to a date later than the date
of exercise of your option, share withholding pursuant to the preceding sentence shall not be permitted unless you make a proper and timely election under Section 83(b) of the Code, covering the aggregate number of shares of Common Stock
acquired upon such exercise with respect to which such determination is otherwise deferred, to accelerate the determination of such tax withholding obligation to the date of exercise of your option. Notwithstanding the filing of such election,
shares shall be withheld solely from fully vested shares of Common Stock determined as of the date of exercise of your option that are otherwise issuable to you upon such exercise. Any adverse consequences to you arising in connection with such
share withholding procedure shall be your sole responsibility. 
 (c) Your option is not exercisable
unless the tax withholding obligations of the Company and/or any Affiliate are satisfied. Accordingly, you may not be able to exercise your option when desired even though your option is vested, and the Company shall have no obligation to issue a
certificate for such shares or release such shares from any escrow provided for herein. 
 13.
NOTICES. Any notices provided for in your option or the Plan shall be given in writing and shall be deemed effectively given upon receipt or, in the case of notices delivered by the Company to you, five
(5) days after deposit in the United States mail, postage prepaid, addressed to you at the last address you provided to the Company. 
 14. GOVERNING PLAN DOCUMENT. Your option is subject to all the provisions of the Plan, the provisions of which are hereby made a
part of your option, and is further subject to all interpretations, amendments, rules and regulations which may from time to time be promulgated and adopted pursuant to the Plan. In the event of any conflict between the provisions of your option and
those of the Plan, the provisions of the Plan shall control. 

  
 5 

 NOTICE OF EXERCISE 
 Genomatica, Inc. 
 10520 Wateridge Circle 
 San Diego, CA 92121 
 Date of Exercise:______________ 

Ladies and Gentlemen: 
 This
constitutes notice under my stock option that I elect to purchase the number of shares for the price set forth below. 
  

			
	 Type of option:
	  	____ Incentive ____ Nonstatutory
	 Stock option dated:
	  	______________________________
	 Number of shares as to which option is exercised:
	  	______________________________
	 Certificates to be issued in name of:
	  	______________________________
	 Total exercise price:
	  	$_____________________________
	 Cash payment delivered herewith:
	  	$_____________________________

 By this exercise, I agree (i) to provide such additional documents as you may require pursuant to
the terms of the Company’s 1998 Equity Incentive Plan, (ii) to provide for the payment by me to you (in the manner designated by you) of your withholding obligation, if any, relating to the exercise of the Option, and (iii) to the
extent the Option is an incentive stock option, to notify you in writing within fifteen (15) days after the date of any disposition of any of the shares of Common Stock issued upon exercise of this Option that occurs within two (2) years
after the date of grant of the Option or within one (1) year after such shares of Common Stock are issued upon exercise of the Option. 
 I hereby make the following certifications and representations with respect to the number of shares of Common Stock (the “Shares”), which are being acquired by me for my own account upon
exercise of the Option as set forth above: 
 I acknowledge that the Shares have not been registered under the Securities Act of
1933, as amended (the “Securities Act”), and are deemed to constitute “restricted securities” under Rule 701 and Rule 144 promulgated under the Securities Act. I warrant and represent to the Company that I have no present
intention of distributing or selling said Shares, except as permitted under the Securities Act and any applicable state securities laws. 
 I further acknowledge that I will not be able to resell the Shares for at least ninety (90) days after the stock of the Company becomes publicly traded (i.e., subject to the reporting

  
 1. 

 
requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended) under Rule 701 and that more restrictive conditions apply to affiliates of the Company under Rule 144.

 I further acknowledge that the Shares are subject to a right of first refusal in favor of the Company under Section 64
of the Company’s Bylaws. 
 I further acknowledge that all certificates representing any of the Shares subject to the
provisions of the Option shall have endorsed thereon appropriate legends reflecting the foregoing limitations, as well as any legends reflecting restrictions pursuant to the Company’s Articles of Incorporation, Bylaws and/or applicable
securities laws. 
 I further agree that, if required by the Company (or a representative of the underwriters) in connection
with the first underwritten registration of the offering of any securities of the Company under the Securities Act, I will not sell or otherwise transfer or dispose of any shares of Common Stock or other securities of the Company during such period
(not to exceed one hundred eighty (180) days following the effective date of the registration statement of the Company filed under the Securities Act as may be requested by the Company or representatives of the underwriters. I further agree
that the Company may impose stop-transfer instructions with respect to securities subject to the foregoing restrictions until the end of such period. 

 

	
	Very truly yours,
	
	  
	
	  
	[Printed name of option holder]

  
 2. 

 GENOMATICA, INC. 

(1998 EQUITY INCENTIVE PLAN) 

STOCK OPTION GRANT NOTICE 

GENOMATICA, INC. (the “Company”), pursuant to its 1998 Equity Incentive Plan (the “Plan”),
hereby grants to Optionholder an option to purchase the number of shares of the Company’s Common Stock set forth below. This option is subject to all of the terms and conditions as set forth herein and in the Stock Option Agreement, the Plan
and the Notice of Exercise, all of which are attached hereto and incorporated herein in their entirety. 
  

					
	Optionholder:	  	 	  	
	Date of Grant:	  	 	  	
	Vesting Commencement Date:	  	 	  	
	Number of Shares Subject to Option:	  	 	  	
	Exercise Price Per Share:	  	 	  	
	Total Exercise Price:	  	 	  	
	Expiration Date:	  	 	  	

  

					
	 Type of Grant:    
	  	  ̈       Incentive Stock Option1
	  	  ̈       Nonstatutory Stock
Option

			
	 Exercise Schedule:        
	  	  ̈       Same as Vesting
Schedule
	  	  ̈       Early Exercise
Permitted

		
	 Vesting Schedule:
	  	 [1/4th of the shares vest one year after the Vesting Commencement Date.

1/48th of the shares vest monthly thereafter over the next three years.]

		
	 Payment:
	  	By one or a combination of the following items (described in the Stock Option Agreement):
		
		  	 By cash or check
 Pursuant to a Regulation T Program if the Shares are publicly traded
 By
delivery of already-owned shares if the Shares are publicly traded

 Additional Terms/Acknowledgements: The undersigned Optionholder acknowledges receipt of, and understands and
agrees to, this Grant Notice, the Stock Option Agreement and the Plan. Optionholder further acknowledges that as of the Date of Grant, this Grant Notice, the Stock Option Agreement and the Plan set forth the entire understanding between Optionholder
and the Company regarding the acquisition of stock in the Company and supersede all prior oral and written agreements on that subject with the exception of (i) options previously granted and delivered to Optionholder under the Plan, and
(ii) the following agreements only: 
  

					
	 OTHER AGREEMENTS:
	  	 	  	
			
		  	 	  	

  

									
	GENOMATICA, INC.	 		 	OPTIONHOLDER:
				
	By:	 	  	 		 	  
		 	Signature	 		 		 	Signature
					
	Title:	 	  	 		 	Date:	 	  
					
	Date:	 	  	 		 	 	 	 

 ATTACHMENTS: Stock Option Agreement, 1998 Equity Incentive Plan and Notice of
Exercise 
  
  

	1 	 This incentive stock option (plus your other outstanding incentive stock options) cannot be first exercisable for more than $100,000 in
any calendar year. Any excess over $100,000 is a nonstatutory stock option. 

 Attachment I 
 Stock Option Agreement 

 Attachment II 
 1998 Equity Incentive Plan 

 Attachment III 

Notice of Exercise

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