Document:

EX-10.32

 Exhibit 10.32 
 *** Text Omitted and Filed Separately 
 Confidential Treatment Requested

 Under 17 C.F.R. §§ 200.80(b)(4) 
 and 203.406 
 EXCLUSIVE DISTRIBUTORSHIP AGREEMENT 

THIS AGREEMENT (this “Agreement”) is made and entered into this 9th day of April 2010. 

BETWEEN: 
  

	(1)	BIOAMBER, S.A.S., a company organised and existing under the laws of France, having its principal place of business at Route de Bazancourt, F-51110, Pomacle,
France (“Bioamber”); and 

  

	(2)	Mitsui & Co., Ltd., a company organised and existing under the laws of Japan, having its principal place of business at 2-1, Ohtemachi 1-chome,
Chiyoda-ku, Tokyo, Japan (“Mitsui”). 

 Hereinafter, Bioamber and Mitsui are individually called the
“Party” and collectively called the “Parties.” 
 WHEREAS: 

 

	(a)	Bioamber is dedicated to building a world-wide leadership position in the area of green chemistry business by developing and commercializing fermentation technologies
through which Bioamber manufactures bio-based succinic acid and derivative products thereof; 

  

	(b)	Bioamber possesses intellectual property and know-how with respect to production through microbial fermentation of bio-based succinic acid and derivative products
thereof; 

  

	(c)	Mitsui conducts global trading business in a variety of chemical business areas, including resource development of potential raw materials for bio-based chemicals,
planning and establishment of an efficient supply system of such raw materials, and recycle and reuse of waste materials; 

  

	(d)	Bioamber wishes to sell the Products (as defined in Article 1.1 below) to Mitsui, and wishes Mitsui to be the exclusive distributor of the Products in the Territory (as
defined in Article 1.1 below); and 

  

	(e)	Mitsui is willing to become such distributor for the purposes of reselling the Products in the Territory, subject to the terms and conditions set out herein.

  

	(f)	 Bioamber acknowledges that Mitsui has a strong interest in being a licensee under Bioamber’s patents, technical information and other intellectual
property rights to manufacture bio based succinic acid and its derivatives and agrees to commence and actively pursue, on or after July 1st, 2010, negotiation in good faith with Mitsui or third party designated by Mitsui for executing an agreement to grant
such license to Mitsui or a third party designated by Mitsui, subject to the undertakings granted by Bioamber to a third party having expired. 

 NOW THEREFORE, THE PARTIES AGREE AS FOLLOWS: 
  

	1.	APPOINTMENT 

Subject to the terms and conditions set out herein, Bioamber appoints Mitsui as its exclusive distributor of the products specified below
(the “Products”) within the territory set out below (the “Territory”), and Mitsui accepts such appointment. 
 Products: Bio-based succinic acid and derivatives thereof which are manufactured by Bioamber at Bioamber’s demonstration plant located in Pomacle, France with the production capacity of
approximately two thousand (2,000) metric tons per year as of the date of this Agreement. 
 Territory: Asia-Pacific,
being comprised of the countries and territories listed at Exhibit A attached hereto, which forms an integral part hereof. 

  
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	1.2	During the term of this Agreement or any extension thereof, Bioamber shall not: 

 

	 	(a)	appoint any other person, firm or company as a distributor, reseller or agent for sale of the Products in the Territory; 

 

	 	(b)	sell, export or otherwise supply to any other person, firm or company in the Territory any of the Products; or 

 

	 	(c)	cause any other person, firm or company to sell or export the Products to any other person, firm or company within the Territory. 

 

	2.	INDIVIDUAL SALE AND PURCHASE 

  

	2.1	The relation between Bioamber and Mitsui is that of seller and buyer. Subject to the terms and conditions hereof, Bioamber shall sell and deliver the Products to Mitsui
and Mitsui shall purchase and take delivery of the Products from Bioamber, for resale purposes in the Territory. 

  

	2.2	Each transaction of sale and purchase of the Products between the Parties and the terms and conditions thereof shall be conducted in accordance with, and evidenced by,
a separate purchase contract (the “Individual Contract”) on Mitsui’s customary form in use at the time of such sale and purchase, provided that the terms and conditions of the Individual Contracts shall be subject to the terms
and conditions of this Agreement. Each such Individual Contract shall be in writing and duly signed by both Bioamber and Mitsui. In the event that any conflict arises between the terms and conditions of this Agreement and those of the Individual
Contracts, those of this Agreement shall prevail. 

  

	2.3	Bioamber shall be entitled under this Agreement to provide samples of the Products to prospective Licensees (as defined in Article 4.4 below) in the Territory, and
shall be free to sell the Products outside of the Territory, subject to the limitations provided in section 1.2 hereof. Bioamber may also negotiate with and conclude any agreement with any other third party located in the Territory and conduct
business in the Territory, with a view to granting such other third party a license to use Bioamber’s technology that relates to the Products, subject to the limitations provided in Article 1.2 hereof. For the sake of clarity, the exclusive
rights granted to Mitsui in connection with the Products pursuant to this Agreement shall not apply to any product that would be produced by such third party Licensee. 

 

	3.	PRICE 

 The prices
for the Products to be supplied in each shipment under this Agreement (the “Price”) shall be specified in the Individual Contracts. 
  

	4.	QUANTITY 

  

	4.1	The quantity of the Products to be supplied in each shipment under this Agreement shall be specified in the Individual Contracts. 

 

	4.2	The non-binding annual target purchase volume of the Products will be two thousand (2,000) metric tons. For the avoidance of doubt, Bioamber assumes no obligation to
sell, and Mitsui assumes no obligation to purchase, the Products of this target purchase volume. 

  
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	4.3	The maximum quantities of the Products to be supplied during each three (3) month period under this Agreement shall be informed by Mitsui to Bioamber by the
beginning of the immediately preceding three (3) month period. 

  

	4.4	In the event that Bioamber grants to a third party the licence to manufacture, use, sell or lease the Products with respect to Bioamber’s intellectual property
rights or confidential information subject to the limitations provided in Article 1.2 hereof, Bioamber shall use its best efforts to facilitate Mitsui’s negotiation with such third party licensee (the “Licensee”) so that the
Licensee will grant to Mitsui a priority right to purchase from the Licensee a certain quantity of the products requested by Mitsui to the extent permitted by the applicable laws and regulations. Bioamber will not be liable for any damage incurred
by Mitsui if any Licensee does not agree to grant Mitsui a priority right to purchase from any such Licensee a certain quantity of the products produced by such Licensee. 

 

	5.	PAYMENT 

 Payment
of the Price by Mitsui to Bioamber shall be made in Euros by telegraphic transfer to such bank account as designated by Bioamber, within thirty (30) days after Mitsui’s receipt from Bioamber of all of the following documents in good order
or after acceptance by Mitsui of the Products with respect to such payment, whichever comes later: 
  

	 	(a)	commercial invoice in three (3) sets; 

  

	 	(b)	full set of clean on board ocean Bill of Lading; 

  

	 	(c)	certificates of weight and analysis in three (3) sets; 

  

	 	(d)	certificates of origin in three (3) sets; and 

  

	 	(e)	other necessary documents reasonably required by Mitsui and specified in the Individual Contracts. 

 

	6.	DELIVERY 

  

	6.1	Bioamber shall deliver the Products to Mitsui on CIF the port designated by Mitsui basis. 

 

	6.2	Delivery of the Products by Bioamber shall be made in accordance with shipping schedules informed by Mitsui. 

 

	6.3	The term “CIF” shall be interpreted in accordance with INCOTERMS 2000, as amended. 

 

	7.	TITLE AND RISK 

Title to and risk of loss of or damage to the Products shall be transferred from Bioamber to Mitsui at the time when the Products have
passed ship’s rail of carrying vessel at the loading port in France. 
  

	8.	SALES ASSISTANCE BY BIOAMBER 

  

	8.1	Bioamber shall at its own costs and expenses: 

  

	 	(a)	provide Mitsui with such samples, catalogues, brochures, information and data in respect of the Products as Mitsui may reasonably require; and 

 

	 	(b)	promptly answer any technical or other enquiries from Mitsui about the Products, without disclosing any information that Bioamber considers to be confidential.

  
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	8.2	Notwithstanding paragraph (a) of Article 8.1, Bioamber may request Mitsui to purchase samples of Products in excess of [***] for each Individual Contract for the
price separately agreed by and between the Parties. For the avoidance of doubt, Mitsui assumes no obligation to purchase such samples unless Mitsui expressly agrees in writing to accept such request. If Mitsui agrees to purchase such samples,
payment for such samples by Mitsui to Bioamber shall be made in accordance with Article 5. 

  

	9.	WARRANTY 

  

	9.1	Bioamber warrants to Mitsui that: 

  

	 	(a)	the Products shall, for a period of one (1) year from the date of delivery thereof, correspond with the relevant specification or sample as referred to in the
relevant Individual Contracts and be free from defects in design, material and workmanship; This warranty does not cover defects resulting from use that is non-compliant with the reasonable, written instructions of Bioamber, improper use, improper
storage or handling after the Products have been delivered, or any modification or transformation of the Products that has not been approved by Bioamber; 

  

	 	(b)	Bioamber shall vest in Mitsui good and valid title to the Products, which shall be free and clear of all liens, security interests, encumbrances, burdens and other
claims. No express and no implied warranties whether of merchantability or fitness for any particular use, or otherwise other than those expressly set forth in this agreement which are made expressly in lieu of all other warranties shall apply to
the products sold to and by Mitsui, and no waiver, alteration, or modification of the foregoing conditions shall be valid unless made in writing and signed by Bioamber 

 

	 	(c)	Bioamber has the sole right and authority, without any restriction, to grant Mitsui all the rights and license under this Agreement; and 

 

	 	(d)	Bioamber is the owner or licensee of the entire right, title, and interest in and to the patents, Trade Names (as defined in Section 10 and subject to the
provisions of Exhibit B) and technical information and other intellectual property rights which are necessary to resell the Products within the Territory. 

  

	9.2	Without prejudice to any other remedy available under applicable laws and regulations, any other provisions of this Agreement or otherwise, if any Products are not
supplied in compliance with the warranties set out in Article 9.1 above, Mitsui shall be entitled: 

  

	 	(a)	to require Bioamber to repair the Products or to supply replacement Products in accordance with this Agreement within thirty (30) days; and

  

	 	(b)	at Mitsui’s sole discretion, to terminate the relevant Individual Contracts and require the repayment of the Price which has been paid by Mitsui to Bioamber for
said non-complying Products. 

  

	9.3	Bioamber shall fully indemnify Mitsui against all loss, damages, costs and expenses (including, but not limited to, legal expenses) incurred or paid by Mitsui as a
result of or in connection with the breach by Bioamber of any of the said warranties under Article 9.1 above. 

  

	9.4	Mitsui warrants to Bioamber that (i) Mitsui has the necessary powers to conclude this Agreement, (ii) Mitsui specifically assumes the liability and
responsibility for marketing and selling the Products in the Territory, and (iii) Mitsui’s importation, packaging, storage, transportation, labeling, marketing, and all other activities related to the Products in the Territory shall
conform in all respects to present and future laws, rulings, rules, standards, and regulations related to the Products by the applicable authorities in the Territory. 

  
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	9.5	Mitsui shall fully indemnify Bioamber against all loss, damages, costs and expenses (including, but not limited to, legal expenses) incurred or paid by Bioamber as a
result of or in connection with the breach by Mitsui of any of the said representations and warranties under Article 9.4 above. 

  

	10.	INTELLECTUAL PROPERTY RIGHTS 

  

	10.1	Bioamber authorizes Mitsui to use in the Territory the tradename(s) specified in Exhibit B attached hereto (the “Trade Names”), on or in relation to
the Products for the purposes of exercising its rights and performing its obligations under this Agreement and in such manner as Mitsui deems fit. Bioamber shall not give authorization to use the Trade Names in the Territory to any other person,
firm or company. Notwithstanding the above, Bioamber shall be permitted to grant Trade Names rights to eventual licensees in the Territory unless Bioamber does not breach its obligations provided in Article 1.2 hereof. Every representation of the
Trade Names that Mitsui intends to use must, prior to any use, be submitted to Bioamber for written approval. 

  

	11.	THIRD PARTY CLAIM 

  

	11.1	In the event that any third party brings any claim against Mitsui and/or any dispute arises between any third party and Mitsui, in relation to any of the Products by
reason of or in connection with: 

  

	 	(a)	any defect of the Products or product liability with respect to the Products; 

 

	 	(b)	infringement of the patents, utility models, tradenames, designs, copyrights or any other intellectual property rights owned or used by any third party; or

  

	 	(c)	infringement by any third party of any of the patents, utility models, designs, copyrights of any other intellectual property rights owned or used by Bioamber,

 then, subject to the limitations provided in Section 9 hereof, Bioamber shall defend and hold Mitsui
harmless from such claim and/or dispute and shall indemnify Mitsui from any costs, expenses, losses and damages sustained by Mitsui due to or in connection with such claim and/or dispute up to the limitations defined under section 12 hereinafter.

  

	11.2	Without limiting or qualifying Bioamber’s liabilities, obligations or indemnities otherwise assumed by Bioamber pursuant to this Agreement, Bioamber shall
maintain, at its sole cost and expense, a product liability insurance initially issued by the insurance company Zurich, with limits of liability not less than three (3) million Euros per occurrence in connection with the Products.

  

	11.3	The provisions of this Article 11 shall survive the termination or expiry of this Agreement. 

 

	12.	LIMITATION OF LIABILITY 

 Notwithstanding anything stated herein, neither Party shall be liable to the other Party for loss of profit, for loss of contract or business opportunity, or for any indirect, consequential, special or
exemplary damages of any kind or nature whatsoever, howsoever caused, incurred by the other Party or any third party, whether in an action in contract, tort or otherwise. 
 In any event any Bioamber liability arising out of or in connection with this Agreement shall never be more than three (3) million Euros per civil year during which any claim was notified to Bioamber and
shall never be more than three (3) million Euros per occurrence. 

  
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	13.	TERM 

  

	13.1	This Agreement shall become effective on the day and year first above written and shall remain in effect until June 30, 2013. 

 

	13.2	 The Parties will mutually discuss in good faith during one (1) month period commencing on
1st March and ending on 31st March of every year during the term of this Agreement in order
to review and assess Mitsui’s performance during the immediately preceding eleven (11) months period commencing on 1st April. If after such discussion Bioamber reasonably determines that Mitsui’s performance during the immediately
preceding eleven (11) months period is not satisfactory to Bioamber, Bioamber may request a further discussion with Mitsui regarding termination of the Agreement. Upon such request, the Parties will discuss in good faith. If through such further
discussion the Parties fail to agree not to terminate this Agreement, Bioamber shall have a right to terminate this Agreement during the term of this Agreement. 

In any event, except otherwise expressly agreed by the Parties, this subsection 13.2 shall not survive after June
30th, 2013. 

 

	13.3	The provisions of Articles 9, 11, 12 and 15 hereof shall survive the termination or expiry of this Agreement and shall continue in force in accordance with their
respective terms. 

  

	14.	TERMINATION 

  

	14.1	Each Party shall be entitled forthwith to terminate this Agreement and any Individual Contracts by written notice to the other Party if: 

 

	 	(a)	the other Party commits any breach of any of the provisions of this Agreement or those of the Individual Contracts and, in the case of a breach capable of remedy, fails
to remedy the same within thirty (30) days after receipt of a written notice giving full particulars of the breach and requiring it to be remedied; 

  

	 	(b)	an encumbrancer takes possession or a receiver is appointed over any of the property or assets of the other Party; 

 

	 	(c)	the other Party makes any voluntary arrangement with its creditors or becomes subject to an administration order; 

 

	 	(d)	the other Party goes into liquidation (except for the purposes of amalgamation or reconstruction and in such manner that the company resulting therefrom effectively
agrees to be bound by or assume the obligations imposed on the other Party under this Agreement); 

  

	 	(e)	anything which, under the law of any jurisdiction, is analogous to any of the acts or events specified in paragraph (b), (c) or (d); or 

 

	 	(f)	the other Party ceases, or threatens to cease, to carry on business 

  

	14.2	Upon the termination of this Agreement for any reason: 

  

	 	(a)	Bioamber shall, at the request of Mitsui, [***]; 

  

	 	(i)	[***]; and 

  

	 	(ii)	[***]; 

  

	 	(b)	Mitsui may not use the Trade Names, patents and technical information of Bioamber other than for the purpose of selling stock of the Products in respect of which
Bioamber does not perform its obligations of repurchase; and 

  
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	 	(c)	subject as otherwise provided in this Agreement and to any rights or obligations which have accrued prior to termination, neither Party shall have any further
obligation other than (a) and (b) above in this Article 14.2 to the other Party under this Agreement. 

  

	14.3	The rights under this Article 14 shall be without prejudice to any other right or remedy of either Party in respect of the breach concerned (if any) or any other
breach. 

  

	15.	CONFIDENTIALITY 

Any commercial, technical or other information of a confidential nature received or obtained by any Party (“Receiving
Party”) from the other Party (“Disclosing Party”), which shall be conspicuously marked by such Disclosing Party as “Confidential” (the “Confidential Information”), shall be treated as strictly
confidential. The Receiving Party shall not, without the prior written consent of the Disclosing Party, disclose the Confidential Information to any person, firm or company except for its employees, advisors and agents having need to know the
Confidential Information, provided that the Receiving Party shall ensure that such employee, advisor and agent shall observe the same obligations as those of the Receiving Party under this Article and shall not use the Confidential Information for
any purpose other than those for which the same is furnished, except those which: 
  

	 	(a)	is known to or possessed by Receiving Party at the time of disclosure by the Disclosing Party; 

 

	 	(b)	is now or become hereafter available to the public through no fault of Receiving Party; 

 

	 	(c)	is developed by the Receiving Party independently from any references to the Confidential Information; 

 

	 	(d)	is required to be disclosed by law or governmental order; or 

  

	 	(e)	may be acquired by the Receiving Party from any third party without any restriction of disclosure. 

 

	16.	NON-ASSIGNMENT 

Neither this Agreement nor any right or obligation hereunder may be assigned by either Party without the other Party’s prior written
consent. 
  

	17.	ENTIRE AGREEMENT 

  

	17.1	This Agreement and Secrecy Agreement entered into between the Parties on January 29, 2010 (the “Secrecy Agreement”) contain the entire and only
agreement between the Parties with respect to the distributorship for the sale of the Products in the Territory. This Agreement wholly cancels, terminates and supersedes any prior agreements except for the Secrecy Agreement, representations or
undertakings, formal or informal, oral or written heretofore between the Parties pertaining to the subject matter. 

  

	17.2	The Parties hereby confirm that, upon execution of this Agreement, the Memorandum of Understanding entered into between the Parties on 30 October 2009 (the
“MOU”) expires pursuant to Article 5.1 of the MOU. 

  

	18.	NO IMPLIED WAIVERS 

No waiver by either Party of a breach of any one or more provisions in this Agreement to be performed by the other Party shall be
construed as a waiver of a subsequent breach, whether of the same or any different provision. 

  
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	19.	AMENDMENT 

 Any
amendment to this Agreement shall not be effective unless it is made in writing and signed by the duly authorized representatives of the Parties. 
  

	20.	NOTICE 

 All
notice, consents, requests and other communications hereunder shall be in writing in the English language and shall be deemed validly given (i) upon personal delivery in case of personal delivery or (ii) five (5) days after
transmission in case of facsimile (if sent by facsimile, the said notice, consents, requests and communications shall be confirmed by registered mail or major international delivery services on the following business day) or after being sent in case
of registered prepaid airmail letter or major international delivery services, to be served at the following addresses: 
  

					
	 If to Bioamber:
	  	Address:	  	1250 Rene Levesque Blvd West, Suite 4110
		  		  	Montreal, Quebec, Canada H3B-4W8
		  	 Facsimile:
	  	+1 (514) 844-1414
		  	 Attention:
	  	Jean-Francois Huc
			
	 With a copy to:
	  	Address:	  	 BDSA Avocats

		  		  	 2000 McGill College, Suite 2000

		  		  	 Montreal, Quebec Canada H3A-3H3

		  	Facsimile:	  	+1 (514) 844-5836
		  	Attention:	  	 Thomas Desbiens

			
	 If to Mitsui:
	  	Address:	  	 2-1, Ohtemachi, 1-Chome, Chiyoda-ku,

		  		  	Tokyo, 100-0004, Japan
		  	Facsimile:	  	+81(3)3285-4915
		  	Attention:	  	Naoki Enatsu

  

	21.	ARBITRATION AND GOVERNING LAW 

  

	21.1	Any dispute or controversy which may arise between the Parties out of or in connection with or in relation to this Agreement or any Individual Contracts, or for breach
thereof, shall, unless settled amicably between the Parties without undue delay, be settled by arbitration in New York, NY, in accordance with the rules of the International Chamber of Commerce (ICC). The award thereof shall be final and binding to
both Parties. 

  

	21.2	This Agreement shall be governed by and construed in accordance with the laws of the state of New York. The United Nations Convention on Contracts for the International
Sale of Goods shall not apply to this Agreement or the Individual Contracts. 

 IN WITNESS WHEREOF, the Parties have caused this
Agreement to be executed by their duly authorized representatives in duplicate as of the date first above written 
  

			
	Bioamber, S.A.S.
		
	By	 	/s/ Jean-Francois Huc
	 Name: Jean-Francois Huc
 Title: Director General

  
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	Mitsui & Co., Ltd.
		
	By	 	/s/ Masanori Ikebe
	 Name: Masanori Ikebe

Title: General Manager Special Chemicals Div.

  
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 Exhibit A 
 List of countries and territories comprised in the Territory 
  

					
	Abkhazia	  	Jordan	  	South Ossetia
	Afghanistan	  	Kazakhstan	  	Sri Lanka
	Akrotiri and Dhekelia	  	Korea, North	  	State of Palestine
	Armenia	  	Korea, South	  	Syria
	Azerbaijan	  	Kuwait	  	Taiwan
	Bahrain	  	Kyrgyzstan	  	Tajikistan
	Bangladesh	  	Laos	  	Thailand
	Bhutan	  	Lebanon	  	Timor-Leste
	British Indian Ocean Territory	  	Macau	  	Turkey
	Brunei	  	Malaysia	  	Turkmenistan
	Burma	  	Maldives	  	United Arab Emirates
	Cambodia	  	Mongolia	  	Uzbekistan
	China	  	Nagorno-Karabakh	  	Vietnam
	Christmas Island	  	Nepal	  	Yemen
	Cocos (Keeling) Islands	  	New Zealand	  	
	Commonwealth of Australia	  	Northern Cyprus	  	
	Cyprus	  	Oman	  	
	Egypt	  	Pakistan	  	
	Georgia	  	Philippines	  	
	Hong Kong	  	Qatar	  	
	India	  	Russia	  	
	Indonesia	  	Saudi Arabia	  	
	Iran	  	Singapore	  	
	Iraq	  		  	
	Israel	  		  	
	Japan	  		  	

  
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 Exhibit B 
  

	1.	Trade Names 

—Bioamber, a non registered tradename in the Territory; 
 The rights to use such tradename in certain countries and territories comprised in the Territory may be limited or non-available. 

  
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 Exhibit 10.33 
 *** Text Omitted and Filed Separately 
 Confidential Treatment Requested

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

This Commercial License Agreement (“Commercial License”), effective the 15th day of April, 2010 (“Effective Date”), is made by and
between Cargill, Inc., through its Bio Technology Development Center, having its principal place of business at 15407 McGinty Road West, Wayzata, MN 55391 (hereinafter “Cargill”), and Bioamber S.A.S., having a place of business at Route de
Bazancourt, F-51110, Pomacle France (“Bioamber”). Cargill and Bioamber are referred to herein as “Parties”, in singular or plural usage, as required by context. 
 WHEREAS, Cargill has developed a yeast strain designated CB1 for fermenting glucose and/or sucrose, and/or mixed sugar streams and related research tools for modifying CB1, which are protected by Licensed
Patents (as defined in Section 1.3 below); 
 WHEREAS, Bioamber has engaged Cargill under the Development Agreement, to which this
Commercial License is an Exhibit, to further develop or modify CB1 with the goal of fermenting glucose and/or sucrose, and/or mixed sugar streams to produce succinic acid and salts thereof; 
 WHEREAS, the Parties also desire to enter into this Commercial License concurrently with the Development Agreement for the purpose of Cargill granting and Bioamber acquiring certain rights to
commercialize the CB1 strain, Improvements made under the Development Agreement, and related patent rights for the production of succinic acid and salts thereof as specified in this Commercial License under its terms and conditions; 

NOW, THEREFORE, in consideration of the mutual covenants set forth herein, the Parties agree as follows: 

1. DEFINITIONS 
 1.1 “CB1 Strain”
shall mean Modified CB1 as defined in the Development Agreement between the Parties. 
 1.2 “Confidential Information” shall mean all
information related to this Commercial License in any form disclosed in any manner by or on behalf of one Party to the other Party during the term of this Commercial License. Without limitation, Confidential Information shall include information
about products, raw materials, samples, packaging, manufacturing processes, financial information, research information, tools, business plans, customer lists and supplier lists. 
 1.3 “Licensed Patents” shall mean those patents and patent applications defined in Section 2.5 of the Development Agreement and in Exhibit B thereto provided that those patents and patent
applications listed in Exhibit B under the heading of “Needed only if Bioamber takes the cellulosics option” are only to be included within the term “Licensed Patents” in the event that Bioamber exercises its option under
Section 3 of the Development Agreement. 

  
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 1.4 “Know-How” shall mean information developed by Cargill during the Development Agreement and
this Commercial License concerning the use of CB1 Strain for the production of Product. Information relating to the Licensed Tool Kit (as defined in the Development Agreement) and the Licensed Tool Kit itself used to genetically modify CB1 Strain
shall not be included within Know-How. 
 1.5 “Product” shall mean succinic acid and salts thereof produced by use of CB1 Strain to
ferment glucose and/or sucrose, and, in the event that Bioamber exercises its option under Section 3 of the Development Agreement, “Product” shall also mean succinic acid and salts thereof produced by use of CB1 Strain to ferment
cellulosic feedstock. 
 1.6 “Improvements” shall mean those inventions or discoveries that are defined in Section 5.2 of the
Development Agreement, including “Bioamber Improvements”, “Cargill Improvements”, and “Joint Improvements” as those terms are defined in Section 5.2 of the Development Agreement and used in this Commercial License.

 1.7 “Net Sale(s)” shall mean the gross sale or transfer quantity of Succinic Acid Equivalent measured in US pounds that is made by
Bioamber and its sublicensees and sold or otherwise transferred to any third party or to Bioamber itself less allowed Product returns and reasonable Product allowances given by Bioamber and its sublicensees, all as determined by Bioamber’s
standard accounting practices. For purposes of clarity, Product allowances shall not include discounts given to customers in the form of Product credits. 
 1.8 “Quarter” shall mean a three month time period from January 1 to March 31, April 1 to June 30, July 1 to September 30, or October 1 to
December 31 in any year during the term of this Commercial License. 
 1.9 “Succinic Acid Equivalent” means the ratio of the
molecular weight of succinic acid to molecular weight of Product multiplied by the dry weight mass of the Product produced. As an example, in the case were the Product is diammonium succinate (DAS), the Succinic Acid (SA) Equivalent would be
calculated as follows: 1 pound DAS x (118/152) = 0.7763 pound of SA, where 118 is the molecular weight of succinic acid and 152 is the molecular weight of diammonium succinate. 
 1.10 “Affiliates” shall mean any person or entity that directly or indirectly controls, is controlled by, or is under common control with such person or entity, and is identified in writing and
included in Exhibit X, which may be updated periodically as mutually agreed by the Parties. For purposes of the preceding sentence, “control” means the right to control, or actual control of, the management of such other entity, whether by
ownership of securities, by voting rights, by agreement or otherwise. Neither Party’s Affiliates are included under the rights and obligations of the provisions of this Commercial License unless done so by an explicit reference. 

1.11 As used throughout this Commercial License, (i) “sublicense” shall mean any agreement between Bioamber and a third party (including
Affiliates) granting the third party commercial rights under or to any CB1 Strain, Licensed Patents, Know-How and/or Improvements, and (ii) “sublicensee” shall mean any such third party entering into such sublicense with Bioamber.

  
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 2. CB1 STRAIN DEVELOPMENT AND REGULATORY APPROVAL 
 2.1 The Parties will attempt to develop CB1 Strain under the terms of the Development Agreement for the purpose of the commercialization of the Product. 

2.2 Bioamber agrees to use its best efforts to obtain the regulatory approvals necessary to make and sell, or otherwise transfer, Products throughout the
world. 
 3. CONFIDENTIAL INFORMATION,AND TRANSFER AND USE OF STRAINS 
 3.1 Both Parties agree that Confidential Information under this Commercial License is subject to the terms and conditions governing “Confidential Information” under Section 4 of the
Development Agreement, including the exclusions therein. Notwithstanding the foregoing, Bioamber shall be permitted to disclose Confidential Information to its shareholders (DNP Green Technology, Inc. and Agro-Industrie Recherches &
Développements, S.A.) and to its sublicensees or potential sublicensees who are bound by an executed confidentiality agreement with terms equivalent to those in the Development Agreement, subject to the requirements for biological materials
specified in Section 3.2 below. 
 3.2 Bioamber shall not transfer or provide any CB1 Strain, or related biological materials, or
biological materials derived from CB1 Strain to any third party, including Affiliates, unless (i) there is a written material transfer agreement in place with such third party that strictly limits such third party to non-commercial evaluation
or testing of such strains or material and prohibits such third party from providing the strain or material to any other party, (ii) there is a written sub-license agreement in place under this Commercial License with such third party as
provided under Section 4.2; and (iii) such third party is obligated not to file patent applications utilizing any data or results learned or obtained while evaluating CB1 Strain. In no event will Bioamber transfer the Licensed Tool Kit to
any third party, except as provided in Section 2.5 of the Development Agreement. 
 3.3 Upon termination of this Commercial License for any
reason (including the end of its term), Bioamber shall destroy and have its sublicensees destroy any and all CB1 Strain and any other biological materials relating to this Commercial License in their possession, and Bioamber shall certify such
destruction in writing to Cargill, except with regard to sublicensees as provided in Section 4.3 of this Commercial License. 
 3.4
Bioamber shall have the first right to enforce the terms in the Sublicense Agreement with respect to the use and custody of the CB1 Strain. In the event Bioamber fails to enforce such provisions in the Sublicense Agreement within a reasonable period
of time, Cargill shall have the right to step in as a named party and enforce such provisions, and Bioamber shall provide assistance thereto. 

  
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 3.5 Notwithstanding any other provision of this Commercial License, Bioamber shall use all reasonable
efforts to ensure that no samples of the CB1 Strain are taken from its facilities, (i) Bioamber shall use the CB1 Strain only for the production of Product within the scope of the rights it is granted under Section 4 of this Commercial
License, subject to the limitations specified in that section, (ii) Bioamber shall not reverse engineer, analyze, attempt to analyze, or have analyzed the physical or genetic structure of the CB1 Strain, and (iii) Bioamber shall not modify
the CB1 Strain in any way or use it to develop other biological materials for any purpose whatsoever. Bioamber shall require its sublicensees to comply with the provisions set forth in this Section 3.5. 

4. GRANTS TO BIOAMBER AND CARGILL, AND CARGILL OPTION 
 4.1 Subject to the terms and conditions of this Commercial License, Cargill hereby grants to Bioamber an exclusive, worldwide, royalty bearing license with a limited right to sublicense, subject to
Section 4.2, under and to Licensed Patents, the CB1 Strain, the Know-How, Cargill Improvements, and Joint Improvements to make, have made, use, sell or otherwise transfer, offer for sale, export, and/or import the Product only. 

4.2 Bioamber’s license under Section 4.1 and ownership rights under the Development Agreement include the right to grant sublicenses according
to the following requirements: 
 a. Bioamber will be responsible for reporting on and paying all royalties that are due to
Cargill in accordance with Section 5 of this Commercial License for Product sold or otherwise transferred by any of Bioamber’s sublicensees. 
 b. Any sublicenses granted by Bioamber under this Section 4.2 shall be in writing (“Sublicense Agreement”) and, prior to Bioamber granting any sublicenses to third parties, Cargill shall
have the right to review and approve such Sublicense Agreement that will be used as a template for the sublicensing of the CB1 Strain. Any sublicenses granted by Bioamber under this Section 4.2 shall be subject to the terms and conditions of
this Commercial License, including but not limited to the obligations on Bioamber concerning confidentiality and material transfer provisions as set forth in Section 3. [***]. 

  
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 c. No sublicensee under this Commercial License may grant any third party or any Affiliate
of the sublicensee any rights in, any access to, or any copies or samples of the Licensed Patents, the CB1 Strain (and any related biological materials and biological materials derived from CB1 Strain), the Know-How, Cargill Improvements, Joint
Improvements, and Confidential Information for any purpose. 
 d. Any non-remedied breach by a sublicensee of the terms of its
sublicense or the requirements of this Commercial License shall not be considered to be a breach by Bioamber of this Commercial License. 
 e. Only the final commercial strains of CB1, which are adapted for commercially manufacturing Product will be provided to sublicensees. Additionally, Know-How may be provided to sublicensees, but in no
event will the Licensed Tool Kit and pre-commercial CB1 strains be provided to sublicensees. 
 4.3 Effective on the date this Commercial
License is terminated for any reason, prior to the end of its term (the “Termination Date”), and provided that any Bioamber sublicensee is not then in default under the terms of the sublicense to which it is a party, then Bioamber hereby
assigns to Cargill those of its rights, title and interest under any such sublicense that are in effect on the Termination Date that relate to the license granted herein, including the right to receive the portion of the income from the sublicense
that relates to the license provided herein, and Cargill undertakes to respect the terms of any such sublicense as though Cargill itself had contracted directly with such sublicensee, in accordance with the terms of any such sublicense so long as
any such sublicensee respects the terms of its sublicense. 
 4.4 At any time up until the fifth anniversary of the completion of Milestone 3 as
referenced in Section 2.3 of the Development Agreement and described in Exhibit A to the Development Agreement, Cargill shall have the options to [***] under the rights granted to Bioamber under [***] and under Bioamber’s rights to
Bioamber Improvements that are specified in the Development Agreement, and/or (ii) [***] produced by use of Bioamber’s proprietary E. coli or other strain to ferment glucose and/or sucrose and/or cellulosic feedstock (in the case of this
option (ii), [***] that are possessed or controlled by Bioamber respecting the relevant E. coli or other strain and the process and technology related to its use for the licensed purpose; [***]. In the event Cargill exercises either or both
of these options, Cargill shall be [***] of the Bioamber technology to produce the Product, including but not limited to the strain and the downstream processing, shall be for a single plant on a single site, and shall be [***]. Cargill shall have
the right to [***], consistent with the principles described in this Section 4.4. 

  
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 4.5 Bioamber hereby grants to Cargill anexclusive, worldwide, royalty-free license with an unlimited right
to sublicense under and to Bioamber Improvements to make, have made, use, sell or otherwise transfer, offer for sale, export, and/or import any and all products and services excluding the Product only. 

4.6 This Commercial License shall serve as the framework for additional license grants should Bioamber exercise its option to [***] pursuant to
Section 3 of the Development Agreement, and subject to the terms and conditions specified in Section 3 of the Development Agreement. 

4.7 Cargill reserves any and all rights under and to Licensed Patents, the CB1 Strain, the Know-How, Cargill Improvements, Cargill Confidential
Information, the Licensed Tool Kit, and Joint Improvements that are not exclusively granted to Bioamber under Section 4.1 of this Commercial License. 
 5. PAYMENTS, ROYALTIES, AND OTHER CONSIDERATION 
 5.1 In consideration of the rights granted to
Bioamber under this Commercial License, including the grants under Section 4.1 herein, and the rights granted to Bioamber respecting Bioamber Improvements and Joint Improvements as specified in the Development Agreement, Bioamber agrees to the
provisions of this Section 5. The Parties acknowledge and agree that the payments provided in this Section 5 and the obligations for sublicenses under Section 4.2 shall apply without regard to (i) what, if any patents issue
respecting Licensed Patents and/or Improvements, the countries in which such patents issue, the scope of such patents, and whether or not any such patents are necessary or used to make, have made, use, sell or otherwise transfer, offer for sale,
export, and/or import a Product and (ii) which party owns the CB1 Strain, Confidential Information, Licensed Patents, Know-How, and/or Improvements that may be necessary or used to make, have made, use, sell or otherwise transfer, offer for
sale, export, and/or import a Product. 
 5.2 Bioamber shall pay an up-front fee to Cargill as specified in Section 2.1 of the Development
Agreement. Bioamber shall also pay Cargill the milestone fees as specified in Section 2.3 of the Development Agreement. 
 5.3 Bioamber
shall pay Cargill a royalty based on the Net Sale of the Product during each calendar quarter at the following rate: [***]. Bioamber shall be responsible for making the payments due to Cargill for its own Net Sales and the Net Sales of its
sublicensees. 

  
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 5.4 Within sixty (60) days of the last day of each Quarter, Bioamber shall submit to Cargill quarterly
reports and royalty payments for each immediately preceding Quarter. Each report shall contain the amount of Net Sales of Product in the preceding Quarter and the total amount of royalties due to Cargill. 

5.5 Bioamber and its sublicensees shall keep complete, true and accurate books and records for the purpose of determining and verifying royalty and other
payment obligations under this Section 5, including those specified in 5.3 and in 5.10. Bioamber agrees to permit its books and records to be examined by an independent auditor not more than once per year, for the purpose of verifying the
payments for Cargill. Bioamber will ensure that sublicensees’ books and records can be examined by an independent auditor on an annual basis on Cargill’s behalf solely to ensure compliance with this Section 5. Bioamber will keep, and
will ensure that its sublicensees keep, these books and records for a minimum of five (5) years following the end of the calendar year to which they pertain. Cargill will pay all costs associated with any audits for this purpose, however in the
event such audit reveals a discrepancy greater than [***] of the total amount of royalties owed to Cargill, Bioamber agrees to pay for the cost of such audit (including sublicensee audits). 
 5.6 Any payments to be made hereunder that remain due and unpaid after a period of sixty (60) calendar days after the date due shall accrue interest compounded daily, commencing as of the date
payment was first past due, at the prime interest rate of Citibank, N.A., in effect on the first day of the calendar month in which the payment first becomes overdue. 
 5.7 No part of any amount payable to Cargill by Bioamber may be reduced due to any counterclaim, set off, adjustment or other right. 
 5.8 If in any one year period commencing with the Effective Date or the annual anniversary thereof the total royalty payments made by Bioamber to Cargill is less than $[***] United States dollars,
Bioamber shall make additional payment to Cargill to bring the total to $[***] United States dollars within thirty (30) days of the end of that one year period. In the event that Bioamber’s royalty payments owed in any given year are less
than $[***] and Bioamber elects not to pay an additional amount to bring the total to $[***], Cargill’s sole remedy shall be to transform the license it granted to Bioamber under Section 4.1 from an exclusive to a non-exclusive license by
written notice to Bioamber. Upon such written notice, (i) Cargill shall have the right to freely license others with respect to the rights granted to Bioamber under Section 4.1 without any accounting to Bioamber and (ii) Bioamber
shall and hereby does grant to Cargill a non-exclusive, worldwide, royalty-free license, with an unlimited right to sublicense, under and to Bioamber Improvements to make, have made, use, sell or otherwise transfer, offer for sale, export, and/or
import succinic acid and salts thereof, including Products. Except as specified in this Section 5.8, such conversion of the exclusive grant by Cargill under Section 4.1 to a non-exclusive grant shall not otherwise change any term or
obligation of this Commercial License, including Bioamber’s payment obligations. For the [***] after the Effective Date or up until [***] following completion of Milestone 3 as specified in the Development Agreement, whichever occurs first, the
amount paid by Bioamber to Cargill for development work under the Development Agreement in [***] commencing with the Effective Date or the annual anniversary thereof (but not including any up-front or milestone payments) [***]. 

  
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 5.9 In the event that (i) Milestone 3 as specified in the Development agreement is achieved,
(ii) the CB1 Strain and fermentation protocols are successfully scaled up, (iii) Bioamber receives any applicable and necessary regulatory approvals to use the CB1 Strain to make and sell Product in any country, and (iv) the economics
of using the CB1 Strain technology is no less favorable than use of Bioamber’s current E. coli strain technology (including OPEX and CAPEX economic considerations), then (a) Bioamber will [***] to make and sell succinic acid and salts
thereof in any and all countries where no regulatory approvals are required or the necessary regulatory approvals for use of CB1 Strain to make and sell the Product have been obtained, and Bioamber will [***] for the production of succinic acid and
salts thereof in any and all countries where no regulatory approvals are required or the necessary regulatory approvals for use of CB1 Strain to make and sell the Product have been obtained. 
 5.10 In addition to the royalties specified in this Section 5, including royalties for sales and other transfers of Product by sublicensees, Bioamber shall make the following calculation and payment
to Cargill. Bioamber shall determine the amount by which the [***] that Bioamber receives from any and all [***] in consideration for a [***] under this Commercial License exceeds the [***], that Bioamber either (i) would receive from [***] for the
production of succinic acid [***] or (ii) would have received [***] for the production of succinic acid under the [***] at the time Bioamber begins switching its [***]. The amount by which the [***] that Bioamber receives from any and all [***]
under this Commercial License exceeds those from the [***] as specified in the prior sentence is the “Incremental Value”. Bioamber shall report and pay to Cargill [***] of the Incremental Value within thirty (30) days of Bioamber’s
receipt of [***] payment subject to this payment to Cargill. Cargill shall have the right, through a mutually acceptable third party to audit Bioamber’s license and sublicense agreements to determine the applicable Incremental Value and
determine Bioamber’s payment requirements under this Section 5.10. 

  
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 6. INTELLECTUAL PROPERTY 
 6.1 Intellectual property rights, including rights respecting Improvements, are subject to the provisions of Section 5 of the Development Agreement and the terms of this Commercial License.

 7. TERM AND TERMINATION 
 7.1 The
term of this Commercial License shall be from the Effective Date and will continue either (a) until no issued Licensed Patents and no issued patents respecting Improvements remain valid and enforceable, or (b) [***] years after the date of
first commercial sale of Product made in a fully-operational plant (not a sale from a pilot plant), whichever is sooner. Following this initial term (the “Initial Term”), this Commercial License shall automatically renew for successive
[***], and Bioamber shall provide Cargill at least six (6) month notice in the event it decides to terminate this Commercial License prior to any extensions of the Initial Term. Bioamber shall provide written notice to Cargill as to the date of
such first commercial sale and in the event of a dispute the Parties shall resolve such dispute in good faith. Termination of the Development Agreement for any reason, including its end of term, will not terminate this Commercial License.

 7.2 Following the Initial Term, Section 5.3 of this Commercial License shall only apply to the production of sublicenses that continue
to pay licensing revenues to Bioamber (“Eligible Production”). The Eligible Production for the purposes of calculating Section 5.3 of this Commercial License shall be determined each three-month period during such an extension period.
Notwithstanding the foregoing, Bioamber, should it elect to do so, shall continue to pay the annual minimum royalty provided in Section 5.8. 
 7.3 Either Party may terminate this Commercial License at any time for a material breach by the other Party, provided (i) that the Party alleging the breach provides the other with written notice
specifying the breach, and (ii) the breach is not cured within one hundred twenty (120) days. To the extent permitted under applicable law, either Party may terminate this Commercial License in the event of the other Party’s
bankruptcy, insolvency, or the filing of a petition therefore. A Party shall promptly give the other Party notice of its bankruptcy, insolvency, or intent to file a petition therefore, whereupon the other Party may immediately terminate this
Commercial License on written notice to that Party. 
 7.4 Bioamber may terminate this Commercial License upon ninety (90) days written
notice to Cargill. 
 7.5 Termination of this Commercial License for any reason, including the end of its term, terminates all rights and
obligations hereunder, including licenses and sublicenses, except as otherwise specified in this Commercial License. 
 7.6 Upon termination of
this Commercial License by Bioamber pursuant to Section 7.4 or upon Cargill’s termination of this Commercial License pursuant to Section 7.3 as a result of Bioamber’s breach: (i) all of Bioamber’s rights specified in
Sections 5.2.1 and 5.2.2 in the Development Agreement terminate; (ii) Bioamber shall and hereby does assign to Cargill all 

  
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of its rights, title and interest in and to Bioamber Improvements and Bioamber will have no remaining rights respecting Bioamber Improvements; and (iii) such termination shall have no affect
whatsoever on any license or other intellectual property rights granted from Bioamber to Cargill under the terms of the Commercial License or the Development Agreement. 
 7.7 Expiration or termination of this Commercial License shall not: (a) relieve Bioamber or its sublicensees of their obligation to make payments or fulfill any obligations to Cargill incurred prior
to expiration or termination including quarterly payments for a completed milestone, other royalty and payment obligations, and a pro rata portion of the minimum payment due for the partial year as of the date of termination, or (b) relieve
Cargill of its obligations to Bioamber incurred prior to expiration or termination. 
 7.8 Material breach of this Commercial License by
Bioamber shall include, but not be limited to, the failure of Bioamber to use its best efforts to seek regulatory approval pursuant to Section 2.2 or pay any amounts due under Section 5. 

7.9 Expiration or termination of this Commercial License, however effectuated, shall not release the Parties from their rights and obligations incurred
prior to the expiration or termination of this Commercial License. Except as otherwise provided in this Commercial License, the following provisions survive any expiration or termination of this Commercial License: Sections 3 (Confidential
Information & Transfer of Strains), 4.3, 4.4, 4.5, 5 (Payments, Royalties, and Other Consideration, except for Sections 5.8 (Bioamber’s obligation to pay the $[***] annual minimum payment shall not survive, but Cargill’s license
and rights granted thereunder shall survive), 5.9 and 5.10), 6 (Intellectual Property), 7 (Term and Termination), 8 (Disclaimer of Warranty, Limitation of Liability), 9 ([***] Patents), and 10 (Miscellaneous). 

8. DISCLAIMER OF WARRANTY, LIMITATION OF LIABILITY 
 8.1 CARGILL EXPRESSLY DISCLAIMS ALL REPRESENTATIONS AND WARRANTIES, EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION, WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE. 

8.2 SUBJECT TO SECTION 8.1, BOTH PARTIES EXPRESSLY DISCLAIM ALL REPRESENTATIONS AND WARRANTIES, EXPRESSED OR IMPLIED, OF NON INFRINGEMENT OF THIRD PARTY
INTELLECTUAL PROPERTY RIGHTS OR OTHER CONFIDENTIAL INFORMATION. 
 8.3 SUBJECT TO SECTIONS 8.1 AND 8.2, IN NO EVENT SHALL EITHER PARTY BE LIABLE
TO THE OTHER PARTY, OR TO THE OTHER PARTY’S OFFICERS, EMPLOYEES OR REPRESENTATIVES, OR TO ANY THIRD PARTY, FOR ANY INDIRECT, CONSEQUENTIAL, INCIDENTAL, SPECIAL, PUNITIVE OR EXEMPLARY DAMAGES OF ANY KIND (INCLUDING, BUT NOT LIMITED TO, LOST
BUSINESS, LOST PROFITS, DAMAGE TO GOODWILL OR REPUTATION AND/OR DEGRADATION IN VALUE OF BRANDS, TRADEMARKS, TRADENAMES, SERVICE NAMES OR SERVICE MARKS) WHETHER ARISING OUT OF BREACH OF CONTRACT, WARRANTY, TORT (INCLUDING NEGLIGENCE, FAILURE TO WARN
OR STRICT LIABILITY) OR OTHERWISE. 

  
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 8.4 Cargill and its Affiliates shall not be liable to Bioamber, and Bioamber shall indemnify and hold
harmless Cargill and its Afffiliates for any loss, claim, damage, or liability, of whatsoever kind or nature, which may arise from or in connection with Bioamber’s and Bioamber’s sublicensee’s use, handling, or storage of CB1 Strain
and/or Confidential Information received from Cargill. 
 9. [***] PATENTS 
 9.1 As referenced in Section 6 of the Development Agreement, [***] is the owner of several patents relating to the [***] (“[***] Patents”). Bioamber shall be solely responsible for acquiring any
licenses or other permissions as described in Section 6 of the Development Agreement from [***] respecting the [***] Patents that may be necessary for Bioamber to exercise its rights under this Commercial License. Cargill shall have no liability to
Bioamber for Bioamber’s acts or failure to act with respect to the [***] Patents, or with respect to any other third party that may have intellectual property rights that may be necessary for Bioamber to exercise its rights under this
Commercial License. 
 10. MISCELLANEOUS 
 10.1 This Commercial License is personal to the parties hereto and shall not be assigned by either Party without the prior written consent of the other Party. Notwithstanding the foregoing, no assignment
of this Commercial License shall be made effective unless (i) any breach or default of the intended assignor is cured by either the intended assignor or the intended assignee, or (ii) the intended assignee can give reasonable assurances of
its ability to comply with the terms and conditions of this Commercial License, and to fulfill its intent. This Commercial License shall be binding upon and shall inure to the benefit of the Parties and their permitted successors and assigns.

 10.2 All notices and reports respecting this Commercial License shall be sent via facsimile, mail, or electronically to the appropriate
address of the Party as given below. If either Party wishes to change its address for notification, it shall promptly notify the other Party in writing of such change of address. 

  
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	 If to Cargill:
	  	Pirkko Suominen
		  	15285 Minnetonka Blvd.
		  	Minnetonka, MN 55345
		  	Phone: [***]
		  	Fax: 952-742-0540
		  	[***]
		
	 with a copy to:
	  	Cargill Incorporated
		  	 Corn Milling Intellectual Property Atty.

		  	 15407 McGinty Road West

		  	 Mailstop 24

		  	 Wayzata, MN 55391-2399

		
	 If to Bioamber:
	  	Laurent Bernier
		  	Bioamber SAS
		  	1250 Rene-Levesque West
		  	Suite 4110
		  	Montreal, Quebec
		  	Canada
		  	H3B4W8
		  	Phone: 514-844-8000
		  	Fax: 514-844-1414
		  	[***]
		
	 with a copy to:
	  	Thomas Desbiens, Esq
		  	Boivin Desbiens Senecal, g.p.
		  	2000-2000 McGill College Avenue
		  	Montreal, Quebec
		  	Canada
		  	H3A 3H3
		  	Phone: 514-844-5468
		  	Fax: 514-844-5836
		  	[***]

 10.3 Nothing contained herein shall limit the right of any Party to seek specific performance, injunctive relief or other
non-monetary remedies in any court of competent jurisdiction. 
 10.4 If any provision or covenant, or any part thereof, of this Commercial
License should be held by any court of competent jurisdiction to be invalid, illegal or unenforceable, either in whole or in part, such invalidity, illegality or unenforceability shall not affect the validity, legality or enforceability of the
remaining provisions or covenants, or any part thereof, of this Commercial License, all of which shall remain in full force and effect. 
 10.5
This Commercial License shall be governed, interpreted, and construed in accordance with the laws of Minnesota without regard to the principles of conflicts of laws. 
 10.7 This Commercial License and the Development Agreement constitutes the entire agreement between the Parties with respect to the subject matter hereto, and no other representations, guarantees,
covenants, or agreements shall be binding or affect any provisions hereof. This Commercial License may be modified only in a written amendment signed by both Parties hereto. In the event that the terms of this Commercial License conflict with the
Terms of the Development Agreement, this Commercial License shall control. Provisions of the Development Agreement which are referenced by this Commercial License shall survive termination or end of term of the Development Agreement for the purpose
referenced in this Commercial License. 

  
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 IN WITNESS WHEREOF, the Parties hereto have executed this Commercial License the day, month, and year first
above written. 
  

									
	Cargill, Inc.	 		 	Bioamber S.A.S.
					
	By:	 	/s/ Jack Stalock	 		 	By:	 	/s/ J.F. Huc
	Name:	 	Jack Stalock	 		 	Name:	 	J.F. Huc
	Title:	 	VP BioTDC	 		 	Title:	 	Director General
	Date:	 	4/16/10	 		 	Date:	 	April 15 2010

  
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 EXHIBIT X 
 Affiliates 
 The following shareholders of Bioamber, until such time that they cease to be
a shareholder of Bioamber, at which point they will no longer be considered Affiliates: 
 DNP Green Technology 

Agrorecherches et Developpement (ARD) 

  
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 EXHIBIT Y 
 Prohibited Geographies 
 [***] 

  
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 Exhibit Z 
 Cargill’s Guiding Principles 
 Guiding Principles 

 

	 	•	 	 Cargill will comply with the laws of all countries to which it is subject. 

 

	 	•	 	 Cargill will not knowingly assist any third party to violate any law of any country, by creating false documents or by any other means.

  

	 	•	 	 Cargill will not pay or receive bribes or participate in any other unethical, fraudulent, or corrupt practice. 

 

	 	•	 	 Cargill will always honor all business obligations that it undertakes with absolute integrity. 

 

	 	•	 	 Cargill will keep its business records in a manner that accurately reflects the true nature of its business transactions. 

 

	 	•	 	 Cargill managers and supervisors will be responsible that employees, consultants and contract workers under their supervision are familiar with
applicable laws and company policies and comply with them. Further, they will be responsible for preventing, detecting, and reporting any violations of law of Cargill policies. 

 

	 	•	 	 Cargill employees will not become involved in situations that create a conflict of interest between the company and the employee.

  

	 	•	 	 Every year, all Cargill employees sign an agreement to live these principles. 

Compliance Policy on Intellectual Property 
 [*** 2 pages omitted.] 

  
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 AMENDMENTS TO COMMERCIAL LICENSE AGREEMENT AND DEVELOPMENT AGREEMENT 

WHEREAS, Cargill, Incorporated (“Cargill”) and BioAmber S.A.S. (“Bioamber”) entered into a
Development Agreement having an Effective Date of April 15th, 2010, as amended on July 5th, 2011 (the “Development Agreement”); 
 WHEREAS, Cargill and Bioamber
entered into a Commercial License Agreement having an Effective Date of April 15, 2010 (the “Commercial License”); 
 WHEREAS, Bioamber now desires to amend the Development Agreement to allow Bioamber to fund a research project being conducted by the [***], which involves the molecular re-engineering of a [***] owned by
[***] and the development of a lab scale fermentation design for using the re-engineered [***] to make succinic acid or salts thereof from a [***] feedstock (the “[***] Project”). The [***] Project will be co-funded by funds available from
the [***]; 
 WHEREAS, Bioamber further desires to scale-up the production of succinic acid using a [***] available from [***]
and to possibly produce succinic acid or salts using [***] at: (1) Bioamber’s existing demonstration-scale succinic acid production facility located at Pomacle, France; and (2) a succinic acid production facility located at Sarnia,
Ontario Canada having a maximum production capacity of 35,000 metric tons of succinic acid per year (the “Sarnia Plant”). Together these scale-up projects will be referred to as the “Scale-up and Production Project”; 

WHEREAS, Cargill is willing to allow Bioamber to fund the [***] Project and to conduct the Scale-up and Production Project, subject to
the following terms and conditions. Now therefore the Parties agree: 
 Amendment To the Development Agreement 

A. Section 13.9 of the Development Agreement is amended to add the following at the end of the Section: 

“Notwithstanding the above, Bioamber may fund the [***] Project up until the [***] demonstrates the ability to produce succinic acid
(or salts thereof) from [***] at a concentration of [***] grams/liter succinic acid (or salts thereof). Within thirty (30) days of the [***], Bioamber will [***] Project. Further Bioamber will require that any unexpended funds received from Bioamber
be utilized for a project other than the [***] Project. 
 B. New Section 13.10 is added to the Development Agreement as set forth below:

 “13.10 Notwithstanding the provisions of section 13.9, Bioamber may conduct the Scale-up and Production Project, subject
to Bioamber hereby agreeing to convert the demonstration-scale Pomacle France succinic acid production facility and the Sarnia Plant to [***] for the production of succinic acid (and/or salts thereof). This conversion will be carried out according
to the provisions of Section 5.9 of the Commercial License, it being understood that all economic obligations of item (iv) above will be relative to the [***] technology, not [***]. In order to enable such conversion, Bioamber will put in place
agreements with the owners/operators of the Sarnia Plant that will enable Bioamber to require such conversion of the Sarnia Plant to [***] for the manufacture of succinic acid as described above.” 

Amendment To the Commercial License 
 A. Section 5.9 of the Commercial License is amended to add the following at the end of the Section: 
 “Bioamber shall use best efforts to obtain regulatory approvals for the use of the CB1 Strain in all countries where Bioamber and/or a Bioamber licensee are using any strain other than the CB1 strain
for the production of succinic acid and/or salts thereof. Additionally, Bioamber shall use best efforts to scale up the CB1 Strain and fermentation protocols utilizing the CB1 Strain.” 
 Nothing in these amendments will reduce Bioamber’s obligations to [***] of Bioamber and Bioamber licensees, according to the provisions of Section 5.9 of the Commercial License. 

  
 * Confidential
treatment requested 

 
			
	CARGILL, INCORPORATED
		
	By:	 	 /s/ Pirkko Suominen

		 	 Name: Pirkko Suominen

		 	 Title: Director, Bio Technology Development Center,
Minneapolis

	 Date:
	 	 10/19/2011

	
	BIOAMBER, SAS
		
	By:	 	 /s/ Jean-François Huc

		 	 Name: Jean-François Huc

		 	 Title: President

	 Date:
	 	 October 15, 2011

  
 * Confidential
treatment requested

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00214-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00214-of-00352.parquet"}]]