Document:

Form of Common Stock Certificate

 Exhibit 4.1 

 
 

 
  

	
	

 THIS CERTIFIES THAT is the owner of CUSIP DATED COUNTERSIGNED AND REGISTERED:
COMPUTERSHARE TRUST COMPANY, N.A. TRANSFER AGENT AND REGISTRAR, FULLY-PAID AND NON-ASSESSABLE SHARES OF THE COMMON STOCK OF Fulcrum BioEnergy, Inc. (hereinafter called the “Company”), transferable on the books of the Company in person or
by duly authorized attorney, upon surrender of this Certificate properly endorsed. This Certificate and the shares represented hereby, are issued and shall be held subject to all of the provisions of the Certificate of Incorporation, as amended, and
the By-Laws, as amended, of the Company (copies of which are on file with the Company and with the Transfer Agent), to all of which each holder, by acceptance hereof, assents. This Certificate is not valid unless countersigned and registered by the
Transfer Agent and Registrar. Witness the facsimile seal of the Company and the facsimile signatures of its duly authorized officers. COMMON STOCK PAR VALUE $0.001 COMMON STOCK THIS CERTIFICATE IS TRANSFERABLE IN CANTON, MA AND NEW YORK, NY SEE
REVERSE FOR CERTAIN DEFINITIONS Certificate Number Shares . FULCRUM BIOENERGY, INC. INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE President Secretary By AUTHORIZED SIGNATURE 016570| 003590|127C|RESTRICTED||4|057-423 XXXXXX XX X <<Month
Day, Year>> * * 000000* * * * * * * * * 000000* * * * * * * * * 000000* * * * * * * * * 000000* * * * * * * * * 000000* * ** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David
Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander
David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr.
Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample
**** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David
Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander
David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr.
Alexander David Sample **** Mr. Alexander David Sample **** Mr. Sample **** Mr. Sample **000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares***
*000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****
000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****0
00000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****00
0000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000
000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****0000
00**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****00000
0**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000
**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000*
*Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**
Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**S ***ZERO HUNDRED THOUSAND ZERO HUNDRED AND ZERO*** MR. SAMPLE & MRS. SAMPLE & MR. SAMPLE &
MRS. SAMPLE NNNNN ZQ 000000 Certificate Numbers 1234567890/1234567890 1234567890/1234567890 1234567890/1234567890 1234567890/1234567890 1234567890/1234567890 1234567890/1234567890 Total Transaction Num/No. 123456 Denom. 123456 Total 1234567 MR A
SAMPLE DESIGNATION (IF ANY) ADD 1 ADD 2 ADD 3 ADD 4 Fulcrum BioEnergy, Inc. PO BOX 43004, Providence, RI 02940-3004 CUSIP XXXXXX XX X Holder ID XXXXXXXXXX Insurance Value 1,000,000.00 Number of Shares 123456 DTC 12345678 123456789012345 

 

 
 The IRS requires that we report the cost basis of certain shares acquired after January
1, 2011. If your shares were covered by the legislation and you have sold or transferred the shares and requested a specific cost basis calculation method, we have processed as requested. If you did not specify a cost basis calculation method, we
have defaulted to the first in, first out (FIFO) method. Please visit our website or consult your tax advisor if you need additional information about cost basis. If you do not keep in contact with us or do not have any activity in your account for
the time periods specified by state law, your property could become subject to state unclaimed property laws and transferred to the appropriate state. For value received, ____________________________hereby sell, assign and transfer unto
_______________________________________________________________________________________________________________________________
_______________________________________________________________________________________________________________________________
_______________________________________________________________________________________________________________________________ _______________________________________________________________________________________________________________________
Shares _______________________________________________________________________________________________________________________ Attorney Dated: __________________________________________20__________________ Signature:
____________________________________________________________ Signature: ____________________________________________________________ Notice: The signature to this assignment must correspond with the name as written upon the face of the certificate,
in every particular, without alteration or enlargement, or any change whatever. PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE (PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING POSTAL ZIP CODE, OF ASSIGNEE) of the common
stock represented by the within Certificate, and do hereby irrevocably constitute and appoint to transfer the said stock on the books of the within-named Company with full power of substitution in the premises. . FULCRUM BIOENERGY, INC. THE COMPANY
WILL FURNISH WITHOUT CHARGE TO EACH SHAREHOLDER WHO SO REQUESTS, A SUMMARY OF THE POWERS, DESIGNATIONS, PREFERENCES AND RELATIVE, PARTICIPATING, OPTIONAL OR OTHER SPECIAL RIGHTS OF EACH CLASS OF STOCK OF THE COMPANY AND THE QUALIFICATIONS,
LIMITATIONS OR RESTRICTIONS OF SUCH PREFERENCES AND RIGHTS, AND THE VARIATIONS IN RIGHTS, PREFERENCES AND LIMITATIONS DETERMINED FOR EACH SERIES, WHICH ARE FIXED BY THE CERTIFICATE OF INCORPORATION OF THE COMPANY, AS AMENDED, AND THE RESOLUTIONS OF
THE BOARD OF DIRECTORS OF THE COMPANY, AND THE AUTHORITY OF THE BOARD OF DIRECTORS TO DETERMINE VARIATIONS FOR FUTURE SERIES. SUCH REQUEST MAY BE MADE TO THE OFFICE OF THE SECRETARY OF THE COMPANY OR TO THE TRANSFER AGENT. THE BOARD OF DIRECTORS MAY
REQUIRE THE OWNER OF A LOST OR DESTROYED STOCK CERTIFICATE, OR HIS LEGAL REPRESENTATIVES, TO GIVE THE COMPANY A BOND TO INDEMNIFY IT AND ITS TRANSFER AGENTS AND REGISTRARS AGAINST ANY CLAIM THAT MAY BE MADE AGAINST THEM ON ACCOUNT OF THE ALLEGED
LOSS OR DESTRUCTION OF ANY SUCH CERTIFICATE. Signature(s) Guaranteed: Medallion Guarantee Stamp THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (Banks, Stockbrokers, Savings and Loan Associations and Credit Unions) WITH
MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15. The following abbreviations, when used in the inscription on the face of this certificate, shall be construed as though they were written out in full
according to applicable laws or regulations: TEN COM - as tenants in common UNIF GIFT MIN ACT - ............................................Custodian ................................................ (Cust) (Minor) TEN ENT - as tenants by the
entireties under Uniform Gifts to Minors Act......................................................... (State) JT TEN - as joint tenants with right of survivorship UNIF TRF MIN ACT - ............................................Custodian (until age
.................................) and not as tenants in common (Cust) .............................under Uniform Transfers to Minors Act ................... (Minor) (State) Additional abbreviations may also be used though not in the above list.
1234567Form of Amendment to Stock Warrant

 Exhibit 4.5 
 AMENDMENT TO 
 FULCRUM BIOENERGY, INC. STOCK WARRANT 

This AMENDMENT TO STOCK WARRANT (“Amendment”) is made and entered into as of March 29, 2012, by and between
Fulcrum BioEnergy, Inc., a Delaware corporation, as borrower (the “Company”) and
                                    
(“Holder”). Capitalized terms used herein and not otherwise defined herein have the meanings assigned to them in the Stock Warrant defined below. 
 RECITALS 
 WHEREAS, Holder is the Registered Holder of
Warrant No. PS-__, issued by the Company on November 16, 2011 (the “Stock Warrant”); 
 WHEREAS,
subject to the terms and conditions of the Stock Warrant, the parties hereto wish to amend the Stock Warrant as provided in this Amendment; 
 WHEREAS, Holders of at least eighty percent (80%) of the shares of the Series C-2 Preferred Stock issuable upon exercise of outstanding warrants purchased pursuant to the Purchase Agreement
are executing an amendment to the Stock Warrant held by such holders in substantially the form of this Amendment (the “Other Holder Amendments”) and Holder hereby consents to the amendment of the terms of the Other Holder Amendments
by its execution of this Amendment; and 
 NOW, THEREFORE, in consideration of the covenants made hereunder, and other
good and valuable consideration, the receipt and legal sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows: 
  

	 	1.	Amendment to Stock Warrant. 

 (a) Section 2(a)(iii). Section 2(a)(iii) of the Stock Warrant is hereby amended and restated by replacing such Section in its entirety with the following: 

“(iii) immediately prior to the closing of a Qualified IPO (as defined in the Certificate of Incorporation) (a “Qualified
IPO”).” 
 (b) Section 2(b)(ii). Section 2(b)(ii) of the Stock Warrant is hereby amended
and restated by replacing such Section in its entirety with the following: 
 “(ii) in the event this Warrant is
automatically exercised upon the occurrence of a Qualified IPO that is completed: 
 (A) on or prior to August
14, 2012, this Warrant shall be exercised for that number of shares of Common Stock of the Company set forth opposite the Registered Holder’s name on Exhibit A hereto; or 

 (B) after August 14, 2012 and on or prior to December 31, 2012,
if (x) the pre-money equity valuation of the Company implied by the lowest price in the price per share range set forth on the cover of the preliminary prospectus used in connection with such Qualified IPO (the “Pre-Money Equity
Valuation”) is equal to or greater than $325 million, this Warrant shall be exercised for that number of shares of Common Stock of the Company set forth opposite the Registered Holder’s name on Exhibit A hereto, or if
(y) the Pre-Money Valuation is less than $325 million, this Warrant shall be exercised for that number of shares of Common Stock of the Company, if any, set forth opposite the Registered Holder’s name on Exhibit B hereto and
under the “Implied Pre-Money Equity Valuation” column that sets forth a valuation closest to the Pre-Money Equity Valuation; or 
 (C) after December 31, 2012, this Warrant shall be exercised for that number of shares of Common Stock of the Company, if any, set forth opposite the Registered Holder’s name on Exhibit B
hereto and under the “Implied Pre-Money Equity Valuation” column that sets forth a valuation closest to the Pre-Money Equity Valuation.” 
 (c) Section 4(b). Section 4(b) of the Stock Warrant is hereby amended and restated by replacing such Section in its entirety with the following: 

“(b) the closing of a Qualified IPO, or” 
 2. Effect of Amendment. Except to the extent expressly modified by this Amendment, the Stock Warrant shall remain in full force and effect in all respects. 

3. Counterparts. This Amendment 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 document. 
 [Signature Page Follows] 

 IN WITNESS WHEREOF, the Company and the Holder have executed this Amendment as of the date
first set forth above. 
  

			
	 THE COMPANY:
  

FULCRUM BIOENERGY, INC.

		
	By:	 	 
		 	(Signature)

  

			
	Name:	 	 
	Title:	 	 

  

			
	 ACCEPTED AND AGREED:
  

THE HOLDER:

		
	By:	 	 
		 	(Signature)

  

			
	Name:	 	 
	Title:	 	 

 EXHIBIT A 

 

					
	 Registered Holder
	  	Number of Shares	 
	 USRG Holdco 3D, LLC
	  	 	4,197,185	  
	 Rusheen Capital Partners, LLC
	  	 	167,887	  
	 WM Organic Growth, Inc.
	  	 	4,197,185	  

 EXHIBIT B 

 

																																									
	 Implied Pre-Money Equity
Valuation (in millions):
	  	$200	 	  	$210	 	  	$220	 	  	$230	 	  	$240	 	  	$250	 	  	$260	 	  	$270	 	  	$280	 	  	$290	 
		
	 Registered Holder:
	  	Number of Shares:	 
	 USRG Holdco 3D, LLC
	  	 	19,790,830	  	  	 	16,917,980	  	  	 	14,532,054	  	  	 	12,518,928	  	  	 	10,797,560	  	  	 	9,308,809	  	  	 	8,008,508	  	  	 	6,863,004	  	  	 	5,846,209	  	  	 	4,937,583	  
	 Rusheen Capital Partners, LLC
	  	 	791,632	  	  	 	676,718	  	  	 	581,281	  	  	 	500,756	  	  	 	431,902	  	  	 	372,352	  	  	 	320,340	  	  	 	274,520	  	  	 	233,848	  	  	 	197,503	  
	 WM Organic Growth, Inc.
	  	 	19,790,830	  	  	 	16,917,980	  	  	 	14,532,054	  	  	 	12,518,928	  	  	 	10,797,560	  	  	 	9,308,809	  	  	 	8,008,508	  	  	 	6,863,004	  	  	 	5,846,209	  	  	 	4,937,583	  

																																					
										
	 Implied Pre-Money
 Equity Valuation (in millions):
	  	$300	 	  	$310	 	  	$320	 	  	$330	 	  	$340	 	  	$350	 	  	$360	 	  	$370	 	  	$372.6	 
		
	 Registered Holder:
	  	Number of Shares:	 
	 USRG Holdco 3D, LLC
	  	 	4,120,738	  	  	 	3,382,436	  	  	 	2,711,867	  	  	 	2,100,121	  	  	 	1,539,782	  	  	 	1,024,631	  	  	 	549,415	  	  	 	109,662	  	  	 	—  	  
	 Rusheen Capital Partners, LLC
	  	 	164,829	  	  	 	135,297	  	  	 	108,475	  	  	 	84,005	  	  	 	61,591	  	  	 	40,985	  	  	 	21,977	  	  	 	4,387	  	  	 	—  	  
	 WM Organic Growth, Inc.
	  	 	4,120,738	  	  	 	3,382,436	  	  	 	2,711,867	  	  	 	2,100,121	  	  	 	1,539,782	  	  	 	1,024,631	  	  	 	549,415	  	  	 	109,662	  	  	 	—

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