Document:

Indemnification Agrmnt, dated 12/2004, (M. Zak)

 Exhibit 10.15 
 BC INTERNATIONAL CORPORATION 
 INDEMNIFICATION AGREEMENT 

 INDEMNIFICATION AGREEMENT 
 THIS INDEMNIFICATION AGREEMENT (the “Agreement”) is made and entered into as of December 20, 2004 between BC INTERNATIONAL, INC., a
Delaware corporation (the “Company”), and Michael Zak (“Indemnitee”). 
 WITNESSETH THAT: 
 WHEREAS, highly competent persons have become more reluctant to serve corporations as [directors] [officers] or in other capacities unless they are
provided with adequate protection through insurance or adequate indemnification against inordinate risks of claims and actions against them arising out of their service to and activities on behalf of the corporation; 
 WHEREAS, the Board of Directors of the Company (the “Board”) has determined that, in order to attract and retain qualified individuals,
the Company will attempt to maintain on an ongoing basis, at its sole expense, liability insurance to protect persons serving the Company and its subsidiaries from certain liabilities. Although the furnishing of such insurance has been a customary
and widespread practice among United States-based corporations and other business enterprises, the Company believes that, given current market conditions and trends, such insurance may be available to it in the future only at higher premiums and
with more exclusions. At the same time, directors, officers, and other persons in service to corporations or business enterprises are being increasingly subjected to expensive and time-consuming litigation relating to, among other things, matters
that traditionally would have been brought only against the Company or business enterprise itself. The By-laws of the Company require indemnification of the officers and directors of the Company subject to the terms and conditions set forth in the
By-laws. Indemnitee may also be entitled to indemnification pursuant to the General Corporation Law of the State of Delaware (“DGCL”). The By-laws and the DGCL expressly provide that the indemnification provisions set forth therein
are not exclusive, and thereby contemplate that contracts may be entered into between the Company and members of the Board, officers and other persons with respect to indemnification; 
 WHEREAS, the uncertainties relating to such insurance and to indemnification have increased the difficulty of attracting and retaining such persons;

 WHEREAS, the Board has determined that the increased difficulty in attracting and retaining such persons is detrimental to the best
interests of the Company’s stockholders and that the Company should act to assure such persons that there will be increased certainty of such protection in the future; 
 WHEREAS, it is reasonable, prudent and necessary for the Company contractually to obligate itself to indemnify, and to advance expenses on behalf of,
such persons to the fullest extent permitted by applicable law so that they will serve or continue to serve the Company free from undue concern that they will not be so indemnified; 
 WHEREAS, this Agreement is a supplement to and in furtherance of the By-laws of the Company and any resolutions adopted pursuant thereto, and shall not
be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder; 
 WHEREAS, Indemnitee does not regard the
protection available under the Company’s By-laws and insurance as adequate in the present circumstances, and may not be willing to serve as an officer or director without adequate protection, and the Company desires Indemnitee to serve in such
capacity. Indemnitee is willing to serve, continue to serve and to take on additional service for or on behalf of the Company on the condition that he be so indemnified; and 

 NOW, THEREFORE, in consideration of Indemnitee’s agreement to serve as an [officer] [director] after
the date hereof, the parties hereto agree as follows: 
 1. Indemnity of Indemnitee. The Company hereby agrees to hold harmless and
indemnify Indemnitee to the fullest extent permitted by law, as such may be amended from time to time. In furtherance of the foregoing indemnification, and without limiting the generality thereof: 
 (a) Proceedings Other Than Proceedings by or in the Right of the Company. Indemnitee shall be entitled to the rights of indemnification provided
in this Section l(a) if, by reason of his Corporate Status (as hereinafter defined), the Indemnitee is, or is threatened to be made, a party to or participant in any Proceeding (as hereinafter defined) other than a Proceeding by or in the
right of the Company. Pursuant to this Section 1(a), Indemnitee shall be indemnified against all Expenses (as hereinafter defined), judgments, penalties, fines and amounts paid in settlement actually and reasonably incurred by him, or on
his behalf, in connection with such Proceeding or any claim, issue or matter therein, if the Indemnitee acted in good faith and in a manner the Indemnitee reasonably believed to be in or not opposed to the best interests of the Company, and with
respect to any criminal Proceeding, had no reasonable cause to believe the Indemnitee’s conduct was unlawful. 
 (b) Proceedings by
or in the Right of the Company. Indemnitee shall be entitled to the rights of indemnification provided in this Section 1(b) if, by reason of his Corporate Status, the Indemnitee is, or is threatened to be made, a party to or
participant in any Proceeding brought by or in the right of the Company. Pursuant to this Section 1(b), Indemnitee shall be indemnified against all Expenses actually and reasonably incurred by the Indemnitee, or on the Indemnitee’s
behalf, in connection with such Proceeding if the Indemnitee acted in good faith and in a manner the Indemnitee reasonably believed to be in or not opposed to the best interests of the Company; provided, however, if applicable law so provides, no
indemnification against such Expenses shall be made in respect of any claim, issue or matter in such Proceeding as to which Indemnitee shall have been adjudged to be liable to the Company unless and to the extent that the Court of Chancery of the
State of Delaware shall determine that such indemnification may be made. 
 (c) Indemnification for Expenses of a Party Who is Wholly or
Partly Successful. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee is, by reason of his Corporate Status, a party to and is successful, on the merits or otherwise, in any Proceeding, he shall be indemnified
to the maximum extent permitted by law, as such may be amended from time to time, against all Expenses actually and reasonably incurred by him or on his behalf in connection therewith. If Indemnitee is not wholly successful in such Proceeding but is
successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the Company shall indemnify Indemnitee against all Expenses actually and reasonably incurred by him or on his behalf in
connection with each successfully resolved claim, issue or matter. For purposes of this Section and without limitation, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, shall be deemed to be
a successful result as to such claim, issue or matter. 
 2. Additional Indemnity. In addition to, and without regard to any
limitations on, the indemnification provided for in Section 1 of this Agreement, the Company shall and hereby does indemnify and hold harmless Indemnitee against all Expenses, judgments, penalties, fines and amounts paid in settlement
actually and reasonably incurred by him or on his behalf if, by reason of his Corporate Status, he is, or is threatened to be made, a party to or participant in any Proceeding (including a Proceeding by or in the right of the Company), including,
without limitation, all liability arising out of the negligence or active or passive wrongdoing of Indemnitee. The only limitation that shall exist upon the Company’s obligations pursuant to this Agreement shall be that the Company shall not be
obligated to make any payment to Indemnitee that is finally determined (under the procedures, and subject to the presumptions, set forth in Sections 6 and 7 hereof) to be unlawful. 
  

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 3. Contribution. 
 (a) Whether or not the indemnification provided in Sections 1 and 2 hereof is available, in respect of any threatened, pending or completed action, suit or proceeding in which the Company is jointly
liable with Indemnitee (or would be if joined in such action, suit or proceeding), the Company shall pay, in the first instance, the entire amount of any judgment or settlement of such action, suit or proceeding without requiring Indemnitee to
contribute to such payment and the Company hereby waives and relinquishes any right of contribution it may have against Indemnitee. The Company shall not enter into any settlement of any action, suit or proceeding in which the Company is jointly
liable with Indemnitee (or would be if joined in such action, suit or proceeding) unless such settlement provides for a full and final release of all claims asserted against Indemnitee. 
 (b) Without diminishing or impairing the obligations of the Company set forth in the preceding subparagraph, if, for any reason, Indemnitee shall elect
or be required to pay all or any portion of any judgment or settlement in any threatened, pending or completed action, suit or proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such action, suit or
proceeding), the Company shall contribute to the amount of expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement actually and reasonably incurred and paid or payable by Indemnitee in proportion to the relative
benefits received by the Company and all officers, directors or employees of the Company, other than Indemnitee, who are jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding), on the one hand, and Indemnitee, on
the other hand, from the transaction from which such action, suit or proceeding arose; provided, however, that the proportion determined on the basis of relative benefit may, to the extent necessary to conform to law, be further adjusted by
reference to the relative fault of the Company and all officers, directors or employees of the Company other than Indemnitee who are jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding), on the one hand, and
Indemnitee, on the other hand, in connection with the events that resulted in such expenses, judgments, fines or settlement amounts, as well as any other equitable considerations which the DGCL or the Company’s By-laws may require to be
considered. The relative fault of the Company and all officers, directors or employees of the Company, other than Indemnitee, who are jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding), on the one hand, and
Indemnitee, on the other hand, shall be determined by reference to, among other things, the degree to which their actions were motivated by intent to gain personal profit or advantage, the degree to which their liability is primary or secondary and
the degree to which their conduct is active or passive. 
 (c) The Company hereby agrees to fully indemnify and hold Indemnitee harmless
from any claims of contribution which may be brought by officers, directors or employees of the Company, other than Indemnitee, who may be jointly liable with Indemnitee. 
 (d) To the fullest extent permissible under applicable law, if the indemnification provided for in this Agreement is unavailable to Indemnitee for any
reason whatsoever, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred by Indemnitee, whether for judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement and/or for Expenses, in
connection with any claim relating to an indemnifiable event under this Agreement, in such proportion as is deemed fair and reasonable in light of all of the circumstances of such Proceeding in order to reflect (i) the relative benefits
received by the Company and Indemnitee as a result of the event(s) and/or transaction(s) giving cause to such Proceeding; and/or (ii) the relative fault of the Company (and its directors, officers, employees and agents) and Indemnitee in
connection with such event(s) and/or transaction(s). 
 4. Indemnification for Expenses of a Witness. Notwithstanding any other
provision of this Agreement, to the extent that Indemnitee is, by reason of his Corporate Status, a witness in any Proceeding to which Indemnitee is not a party, he shall be indemnified against all Expenses actually and reasonably incurred by him or
on his behalf in connection therewith. 
  

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 5. Advancement of Expenses. Notwithstanding any other provision of this Agreement, the Company
shall advance all Expenses incurred by or on behalf of Indemnitee in connection with any Proceeding by reason of Indemnitee’s Corporate Status within thirty (30) days after the receipt by the Company of a statement or statements from
Indemnitee requesting such advance or advances from time to time, whether prior to or after final disposition of such Proceeding. Such statement or statements shall reasonably evidence the Expenses incurred by Indemnitee and shall include or be
preceded or accompanied by an undertaking by or on behalf of Indemnitee to repay any Expenses advanced if it shall ultimately be determined that Indemnitee is not entitled to be indemnified against such Expenses. Any advances and undertakings to
repay pursuant to this Section 5 shall be unsecured and interest free. 
 6. Procedures and Presumptions for Determination of
Entitlement to Indemnification. It is the intent of this Agreement to secure for Indemnitee rights of indemnity that are as favorable as may be permitted under the Delaware General Corporation Law and public policy of the State of Delaware.
Accordingly, the parties agree that the following procedures and presumptions shall apply in the event of any question as to whether Indemnitee is entitled to indemnification under this Agreement: 
 (a) To obtain indemnification under this Agreement, Indemnitee shall submit to the Company a written request, including therein or therewith such
documentation and information as is reasonably available to Indemnitee and is reasonably necessary to determine whether and to what extent Indemnitee is entitled to indemnification. The Secretary of the Company shall, promptly upon receipt of such a
request for indemnification, advise the Board in writing that Indemnitee has requested indemnification. 
 (b) Upon written request by
Indemnitee for indemnification pursuant to the first sentence of Section 6(a) hereof, a determination, if required by applicable law, with respect to Indemnitee’s entitlement thereto shall be made in the specific case by one of the
following four methods, which shall be at the election of the Board: (1) by a majority vote of the disinterested directors of the Board (the “Disinterested Directors”), even though less than a quorum, by a committee of
Disinterested Directors designated by a majority vote of the Disinterested Directors, even though less than a quorum, (2) if there are no Disinterested Directors or if the Disinterested Directors so direct, by Independent Counsel (as defined
below) in a written opinion to the Board, a copy of which shall be delivered to the Indemnitee, or (3) if so directed by the Board, by the stockholders of the Company. For purposes hereof, Disinterested Directors are those members of the Board
who are not parties to the action, suit or proceeding in respect of which indemnification is sought by Indemnitee. 
 (c) If the
determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 6(b) hereof, the Independent Counsel shall be selected as provided in this Section 6(c). The Independent Counsel shall
be selected by the Board. Indemnitee may, within 10 days after such written notice of selection shall have been given, deliver to the Company, as the case may be, a written objection to such selection; provided, however, that such objection may be
asserted only on the ground that the Independent Counsel so selected does not meet the requirements of “Independent Counsel” as defined in Section 13 of this Agreement, and the objection shall set forth with
particularity the factual basis of such assertion. Absent a proper and timely objection, the person so selected shall act as Independent Counsel. If a written objection is made and substantiated, the Independent Counsel selected may not serve as
Independent Counsel unless and until such objection is withdrawn or a court has determined that such objection is without merit. If, within 20 days after submission by Indemnitee of a written request for indemnification pursuant to
Section 6(a) hereof, no Independent Counsel shall have been selected and not objected to, either the Company or Indemnitee may 

  

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petition the Court of Chancery of the State of Delaware or other court of competent jurisdiction for resolution of any objection which shall have been made
by the Indemnitee to the Company’s selection of Independent Counsel and/or for the appointment as Independent Counsel of a person selected by the court or by such other person as the court shall designate, and the person with respect to whom
all objections are so resolved or the person so appointed shall act as Independent Counsel under Section 6(b) hereof. The Company shall pay any and all reasonable fees and expenses of Independent Counsel incurred by such Independent
Counsel in connection with acting pursuant to Section 6(b) hereof, and the Company shall pay all reasonable fees and expenses incident to the procedures of this Section 6(c), regardless of the manner in which such Independent
Counsel was selected or appointed. 
 (d) In making a determination with respect to entitlement to indemnification hereunder, the person or
persons or entity making such determination shall presume that Indemnitee is entitled to indemnification under this Agreement. Anyone seeking to overcome this presumption shall have the burden of proof and the burden of persuasion by clear and
convincing evidence. Neither the failure of the Company (including by its directors or independent legal counsel) to have made a determination prior to the commencement of any action pursuant to this Agreement that indemnification is proper in the
circumstances because Indemnitee has met the applicable standard of conduct, nor an actual determination by the Company (including by its directors or independent legal counsel) that Indemnitee has not met such applicable standard of conduct, shall
be a defense to the action or create a presumption that Indemnitee has not met the applicable standard of conduct. 
 (e) Indemnitee shall
be deemed to have acted in good faith if Indemnitee’s action is based on the records or books of account of the Enterprise (as hereinafter defined), including financial statements, or on information supplied to Indemnitee by the officers of the
Enterprise in the course of their duties, or on the advice of legal counsel for the Enterprise or on information or records given or reports made to the Enterprise by an independent certified public accountant or by an appraiser or other expert
selected with reasonable care by the Enterprise. In addition, the knowledge and/or actions, or failure to act, of any director, officer, agent or employee of the Enterprise shall not be imputed to Indemnitee for purposes of determining the right to
indemnification under this Agreement. Whether or not the foregoing provisions of this Section 6(e) are satisfied, it shall in any event be presumed that Indemnitee has at all times acted in good faith and in a manner he reasonably
believed to be in or not opposed to the best interests of the Company. Anyone seeking to overcome this presumption shall have the burden of proof and the burden of persuasion by clear and convincing evidence. 
 (f) If the person, persons or entity empowered or selected under Section 6 to determine whether Indemnitee is entitled to indemnification
shall not have made a determination within sixty (60) days after receipt by the Company of the request therefor, the requisite determination of entitlement to indemnification shall be deemed to have been made and Indemnitee shall be entitled to
such indemnification absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially misleading, in connection with the request for indemnification, or
(ii) a prohibition of such indemnification under applicable law; provided, however, that such 60-day period may be extended for a reasonable time, not to exceed an additional thirty (30) days, if the person, persons or entity making such
determination with respect to entitlement to indemnification in good faith requires such additional time to obtain or evaluate documentation and/or information relating thereto; and provided, further, that the foregoing provisions of this
Section 6(f) shall not apply if the determination of entitlement to indemnification is to be made by the stockholders pursuant to Section 6(b) of this Agreement and if (A) within fifteen (15) days after receipt by
the Company of the request for such determination, the Board or the Disinterested Directors, if appropriate, resolve to submit such determination to the stockholders for their consideration at an annual meeting thereof to be held within seventy-five
(75) days after such receipt and such determination is made thereat, or (B) a special meeting of stockholders is called within fifteen (15) days after such receipt for the purpose of making such determination, such meeting is held for
such purpose within sixty (60) days after having been so called and such determination is made thereat. 
  

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 (g) Indemnitee shall cooperate with the person, persons or entity making such determination with respect
to Indemnitee’s entitlement to indemnification, including providing to such person, persons or entity upon reasonable advance request any documentation or information which is not privileged or otherwise protected from disclosure and which is
reasonably available to Indemnitee and reasonably necessary to such determination. Any Independent Counsel, member of the Board or stockholder of the Company shall act reasonably and in good faith in making a determination regarding the
Indemnitee’s entitlement to indemnification under this Agreement. Any costs or expenses (including attorneys’ fees and disbursements) incurred by Indemnitee in so cooperating with the person, persons or entity making such determination
shall be borne by the Company (irrespective of the determination as to Indemnitee’s entitlement to indemnification) and the Company hereby indemnifies and agrees to hold Indemnitee harmless therefrom. 
 (h) The Company acknowledges that a settlement or other disposition short of final judgment may be successful if it permits a party to avoid expense,
delay, distraction, disruption and uncertainty. In the event that any action, claim or proceeding to which Indemnitee is a party is resolved in any manner other than by adverse judgment against Indemnitee (including, without limitation, settlement
of such action, claim or proceeding with or without payment of money or other consideration) it shall be presumed that Indemnitee has been successful on the merits or otherwise in such action, suit or proceeding. Anyone seeking to overcome this
presumption shall have the burden of proof and the burden of persuasion by clear and convincing evidence. 
 (i) The termination of any
Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, or upon a plea of nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself adversely affect
the right of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith and in a manner which he reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal
Proceeding, that Indemnitee had reasonable cause to believe that his conduct was unlawful. 
 7. Remedies of Indemnitee. 

(a) In the event that (i) a determination is made pursuant to Section 6 of this Agreement that Indemnitee is not entitled to
indemnification under this Agreement, (ii) advancement of Expenses is not timely made pursuant to Section 5 of this Agreement, (iii) no determination of entitlement to indemnification is made pursuant to
Section 6(b) of this Agreement within 90 days after receipt by the Company of the request for indemnification, (iv) payment of indemnification is not made pursuant to this Agreement within ten (10) days after receipt by the
Company of a written request therefor or (v) payment of indemnification is not made within ten (10) days after a determination has been made that Indemnitee is entitled to indemnification or such determination is deemed to have been made
pursuant to Section 6 of this Agreement, Indemnitee shall be entitled to an adjudication in an appropriate court of the State of Delaware, or in any other court of competent jurisdiction, of Indemnitee’s entitlement to such
indemnification. Indemnitee shall commence such proceeding seeking an adjudication within 180 days following the date on which Indemnitee first has the right to commence such proceeding pursuant to this Section 7(a). The Company shall
not oppose Indemnitee’s right to seek any such adjudication. 
 (b) In the event that a determination shall have been made pursuant to
Section 6(b) of this Agreement that Indemnitee is not entitled to indemnification, any judicial proceeding commenced pursuant to this Section 7 shall be conducted in all respects as a de novo trial on the merits, and
Indemnitee shall not be prejudiced by reason of the adverse determination under Section 6(b). 
 (c) If a determination shall
have been made pursuant to Section 6(b) of this Agreement that Indemnitee is entitled to indemnification, the Company shall be bound by such determination in any judicial proceeding commenced pursuant to this Section 7,
absent (i) a misstatement 

  

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by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s misstatement not materially misleading in connection
with the application for indemnification, or (ii) a prohibition of such indemnification under applicable law. 
 (d) In the event that
Indemnitee, pursuant to this Section 7, seeks a judicial adjudication of his rights under, or to recover damages for breach of, this Agreement, or to recover under any directors’ and officers’ liability insurance policies
maintained by the Company, the Company shall pay on his behalf, in advance, any and all expenses (of the types described in the definition of Expenses in Section 13 of this Agreement) actually and reasonably incurred by him in such
judicial adjudication, regardless of whether Indemnitee ultimately is determined to be entitled to such indemnification, advancement of expenses or insurance recovery. 
 (e) The Company shall be precluded from asserting in any judicial proceeding commenced pursuant to this Section 7 that the procedures and presumptions of this Agreement are not valid, binding and
enforceable and shall stipulate in any such court that the Company is bound by all the provisions of this Agreement. The Company shall indemnify Indemnitee against any and all Expenses and, if requested by Indemnitee, shall (within ten
(10) days after receipt by the Company of a written request therefore) advance, to the extent not prohibited by law, such expenses to Indemnitee, which are incurred by Indemnitee in connection with any action brought by Indemnitee for
indemnification or advance of Expenses from the Company under this Agreement or under any directors’ and officers’ liability insurance policies maintained by the Company, regardless of whether Indemnitee ultimately is determined to be
entitled to such indemnification, advancement of Expenses or insurance recovery, as the case may be. 
 (f) Notwithstanding anything in this
Agreement to the contrary, no determination as to entitlement to indemnification under this Agreement shall be required to be made prior to the final disposition of the Proceeding. 
 8. Non-Exclusivity; Survival of Rights; Insurance; Subrogation. 
 (a) The rights of indemnification as provided by this Agreement shall not be deemed exclusive of any other rights to which Indemnitee may at any time be entitled under applicable law, the certificate of incorporation
of the Company, the Bylaws, any agreement, a vote of stockholders, a resolution of directors or otherwise. No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under this
Agreement in respect of any action taken or omitted by such Indemnitee in his Corporate Status prior to such amendment, alteration or repeal. To the extent that a change in the Delaware General Corporation Law, whether by statute or judicial
decision, permits greater indemnification than would be afforded currently under the Bylaws and this Agreement, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change. No
right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in
equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other right or remedy. 
 (b) To the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, officers, employees, or agents
or fiduciaries of the Company or of any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise that such person serves at the request of the Company, Indemnitee shall be covered by such policy or policies in
accordance with its or their terms to the maximum extent of the coverage available for any director, officer, employee, agent or fiduciary under such policy or policies. If, at the time of the receipt of a notice of a claim pursuant to the terms
hereof, the Company has director and officer liability insurance in effect, the Company shall give prompt notice of the commencement of such proceeding to the insurers in 

  

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accordance with the procedures set forth in the respective policies. The Company shall thereafter take all necessary or desirable action to cause such
insurers to pay, on behalf of the Indemnitee, all amounts payable as a result of such proceeding in accordance with the terms of such policies. 
 (c) In the event of any payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all papers required and take all action necessary to
secure such rights, including execution of such documents as are necessary to enable the Company to bring suit to enforce such rights. 
 (d) The Company shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable hereunder if and to the extent that Indemnitee has otherwise actually received such payment under any insurance policy,
contract, agreement or otherwise. 
 (e) The Company’s obligation to indemnify or advance Expenses hereunder to Indemnitee who is or
was serving at the request of the Company as a director, officer, employee or agent of any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise shall be reduced by any amount Indemnitee has actually
received as indemnification or advancement of expenses from such other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise. 
 9. Exception to Right of Indemnification. Notwithstanding any provision in this Agreement, the Company shall not be obligated under this Agreement to make any indemnity in connection with any claim made against
Indemnitee: 
 (a) for which payment has actually been made to or on behalf of Indemnitee under any insurance policy or other indemnity
provision, except with respect to any excess beyond the amount paid under any insurance policy or other indemnity provision; or 
 (b) for
an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the Company within the meaning of Section 16(b) of the Securities Exchange Act of 1934, as amended, or similar provisions of
state statutory law or common law; or 
 (c) in connection with any Proceeding (or any part of any Proceeding) initiated by Indemnitee,
including any Proceeding (or any part of any Proceeding) initiated by Indemnitee against the Company or its directors, officers, employees or other indemnitees, unless (i) the Board authorized the Proceeding (or any part of any Proceeding)
prior to its initiation or (ii) the Company provides the indemnification, in its sole discretion, pursuant to the powers vested in the Company under applicable law. 
 10. Duration of Agreement. All agreements and obligations of the Company contained herein shall continue during the period Indemnitee is an officer or director of the Company (or is or was serving at the
request of the Company as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise), and shall continue for six (6) years after the termination of such service, and thereafter so long
as Indemnitee shall be subject to any Proceeding (or any proceeding commenced under Section 7 hereof) by reason of his Corporate Status, whether or not he is acting or serving in any such capacity at the time any liability or expense is
incurred for which indemnification can be provided under this Agreement. This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and their respective successors (including any direct or indirect
successor by purchase, merger, consolidation or otherwise to all or substantially all of the business or assets of the Company), assigns, spouses, heirs, executors and personal and legal representatives. 
  

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 11. Security. To the extent requested by Indemnitee and approved by the Board, the Company may at
any time and from time to time provide security to Indemnitee for the Company’s obligations hereunder through an irrevocable bank line of credit, funded trust or other collateral. Any such security, once provided to Indemnitee, may not be
revoked or released without the prior written consent of the Indemnitee. 
 12. Enforcement. 
 (a) The Company expressly confirms and agrees that it has entered into this Agreement and assumes the obligations imposed on it hereby in order to
induce Indemnitee to serve as an officer or director of the Company, and the Company acknowledges that Indemnitee is relying upon this Agreement in serving as an officer or director of the Company. 
 (b) This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes all prior
agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter hereof. 
 13.
Definitions. For purposes of this Agreement: 
 (a) “Corporate Status” describes the status of a person who is or
was a director, officer, employee, agent or fiduciary of the Company or of any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise that such person is or was serving at the express written request of the
Company. 
 (b) “Disinterested Director” means a director of the Company who is not and was not a party to the Proceeding
in respect of which indemnification is sought by Indemnitee. 
 (c) “Enterprise” shall mean the Company and any other
corporation, partnership, joint venture, trust, employee benefit plan or other enterprise that Indemnitee is or was serving at the express written request of the Company as a director, officer, employee, agent or fiduciary. 
 (d) “Expenses” shall include all reasonable attorneys’ fees, retainers, court costs, transcript costs, fees of experts, witness
fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees and all other disbursements or expenses of the types customarily incurred in connection with prosecuting, defending, preparing to
prosecute or defend, investigating, participating, or being or preparing to be a witness in a Proceeding. Expenses also shall include Expenses incurred in connection with any appeal resulting from any Proceeding, including without limitation the
premium, security for, and other costs relating to any cost bond, supersede as bond, or other appeal bond or its equivalent. Expenses, however, shall not include amounts paid in settlement by Indemnitee or the amount of judgments or fines against
Indemnitee, unless such amounts were paid at the written request of the Company. 
 (e) “Independent Counsel” means a law
firm, or a member of a law firm, that is experienced in matters of corporation law and neither presently is, nor in the past five years has been, retained to represent: (i) the Company or Indemnitee in any matter material to either such party
(other than with respect to matters concerning Indemnitee under this Agreement, or of other indemnitees under similar indemnification agreements), or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder.
Notwithstanding the foregoing, the term “Independent Counsel” shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Company or
Indemnitee in an action to determine Indemnitee’s rights under this Agreement. The Company agrees to pay the reasonable fees of the Independent Counsel referred to above and to fully indemnify such counsel against any and all Expenses, claims,
liabilities and damages arising out of or relating to this Agreement or its engagement pursuant hereto. 
  

 10 

 (f) “Proceeding” includes any threatened, pending or completed action, suit,
arbitration, alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding, whether brought by or in the right of the Company or otherwise and whether civil, criminal,
administrative or investigative, in which Indemnitee was, is or will be involved as a party or otherwise, by reason of the fact that Indemnitee is or was an officer or director of the Company, by reason of any action taken by him or of any inaction
on his part while acting as an officer or director of the Company, or by reason of the fact that he is or was serving at the request of the Company as a director, officer, employee, agent or fiduciary of another corporation, partnership, joint
venture, trust or other Enterprise; in each case whether or not he is acting or serving in any such capacity at the time any liability or expense is incurred for which indemnification can be provided under this Agreement; including one pending on or
before the date of this Agreement, but excluding one initiated by an Indemnitee pursuant to Section 7 of this Agreement to enforce his rights under this Agreement. 
 14. Severability. The invalidity or unenforceability of any provision hereof shall in no way affect the validity or enforceability of any other
provision. Without limiting the generality of the foregoing, this Agreement is intended to confer upon Indemnitee indemnification rights to the fullest extent permitted by applicable laws. In the event any provision hereof conflicts with any
applicable law, such provision shall be deemed modified, consistent with the aforementioned intent, to the extent necessary to resolve such conflict. 
 15. Modification and Waiver. No supplement, modification, termination or amendment of this Agreement shall be binding unless executed in writing by both of the parties hereto. No waiver of any of the provisions
of this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar) nor shall such waiver constitute a continuing waiver. 
 16. Notice By Indemnitee. Indemnitee agrees promptly to notify the Company in writing upon being served with or otherwise receiving any summons,
citation, subpoena, complaint, indictment, information or other document relating to any Proceeding or matter which may be subject to indemnification covered hereunder. The failure to so notify the Company shall not relieve the Company of any
obligation which it may have to Indemnitee under this Agreement or otherwise unless and only to the extent that such failure or delay materially prejudices the Company. 
 17. Notices. All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively given: (a) upon personal delivery to the party to be notified,
(b) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient, and if not so confirmed, then on the next business day, (c) five (5) days after having been sent by registered or certified
mail, return receipt requested, postage prepaid, or (d) one (1) day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent:

 (a) To Indemnitee at the address set forth below Indemnitee’s signature hereto. 
  

 11 

 (b) To the Company at: 
 BC International Corporation 
 980 Washington Street 
 Suite 122 
 Dedham, MA 02026 
 Attention: President 
 or to such other address as may have
been furnished to Indemnitee by the Company or to the Company by Indemnitee, as the case may be. 
 18. Counterparts. This 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 Agreement. This Agreement may also be executed and delivered by facsimile signature and 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. 
 19.
Headings. The headings of the paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect the construction thereof. 
 20. Governing Law and Consent to Jurisdiction. This Agreement and the legal relations among the parties shall be governed by, and construed and
enforced in accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules. The Company and Indemnitee hereby irrevocably and unconditionally (i) agree that any action or proceeding arising out of or in
connection with this Agreement shall be brought only in the Chancery Court of the State of Delaware (the “Delaware Court”), and not in any other state or federal court in the United States of America or any court in any other
country, (ii) consent to submit to the exclusive jurisdiction of the Delaware Court for purposes of any action or proceeding arising out of or in connection with this Agreement, (iii) appoint, to the extent such party is not otherwise
subject to service of process in the State of Delaware, irrevocably Corporation Service Company, 2711 Centerville Road Suite 400, Wilmington, DE 19808, as its agent in the State of Delaware as such party’s agent for acceptance of legal process
in connection with any such action or proceeding against such party with the same legal force and validity as if served upon such party personally within the State of Delaware, (iv) waive any objection to the laying of venue of any such action
or proceeding in the Delaware Court, and (v) waive, and agree not to plead or to make, any claim that any such action or proceeding brought in the Delaware Court has been brought in an improper or inconvenient forum. The Company agrees to
reimburse the Indemnitee for any expense associated with maintaining an agent for acceptance of legal process within the State of Delaware as described above. 
 SIGNATURE PAGE TO FOLLOW 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement on and as of the day and year first
above written. 
  

			
	BC INTERNATIONAL CORPORATION
		
	 By:
	 	 /s/ Robert J. Johnsen

	 Name:
	 	Robert J. Johnsen
	 Title:
	 	President & CEO
	
	 INDEMNITEE

	
	 /s/ Michael Zak

	MICHAEL ZAK
	
	Address:
	c/o Charles River Ventures
	1000 Winter Street
	Suite 3300
	Waltham, MA 02451

  

 13Warrant, dated 12/20/04 (Rho Ventures IV, LP)

 Exhibit 10.16 
 THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT FOR SUCH SECURITIES UNDER THE SECURITIES ACT OF
1933 AND APPLICABLE STATE LAW OR AN OPINION OF COUNSEL ACCEPTABLE TO THE BORROWER THAT SUCH REGISTRATION IS NOT REQUIRED UNDER SUCH LAWS. 
 THE
SECURITIES REPRESENTED BY THIS WARRANT ARE SUBJECT TO CERTAIN RESTRICTIONS AND AGREEMENTS, INCLUDING WITHOUT LIMITATION RESTRICTIONS ON TRANSFER AND VOTING AGREEMENTS, SET FORTH IN THE STOCKHOLDER AGREEMENTS (AS DEFINED IN SECTION 3
BELOW). A COPY OF SUCH AGREEMENTS ARE ON FILE AND MAY BE INSPECTED BY THE REGISTERED HOLDER OF THIS CERTIFICATE AT THE PRINCIPAL EXECUTIVE OFFICE OF THE ISSUER. 
 Dated: December 20, 2004 
 Warrant No. 4 
 WARRANT 
 To Purchase Common Stock of 
 BC INTERNATIONAL CORPORATION 
 THIS
IS TO CERTIFY THAT, for value received, Rho Ventures IV, L.P. (the “Initial Warrant Holder”), and his registered successors and permitted assigns are entitled, subject to the terms and conditions set forth below, to purchase
from BC INTERNATIONAL CORPORATION, a Delaware corporation (the “Company”), at any time or from time to time during the Warrant Exercise Period (as defined in Section 1 below), the Warrant Shares (as defined in
Section 1 below), at a purchase price per share equal to the Exercise Price (as defined in Section 1 below). The Applicable Number (as defined in Section 1 below) and character of the Warrant Shares and the
Exercise Price are subject to adjustment as provided herein. 
 1. Definitions. Capitalized terms not defined in this
Warrant have the meanings given to such terms in the Note Purchase Agreement. As used in this Warrant, the following terms shall have the respective meanings set forth below or elsewhere in this Warrant as referred to below: 
 “Applicable Number” shall mean 310.79 Warrant Shares as adjusted pursuant to the terms hereof. 

 “Certificate of Incorporation” shall mean the Amended and Restated Certificate of
Incorporation of the Company, as amended and in effect from time to time. 
 “Common Stock” shall mean (i) Common Stock
of the Company, $.0001 par value per share, and (ii) any other securities into which or for which any of the securities described in clause (i) above have been converted or exchanged pursuant to a plan of recapitalization, reorganization,
merger, sale of assets or otherwise. 
 “Derivative Securities” means (i) all shares of stock and other securities that
are convertible into or exchangeable for shares of Common Stock and (ii) all options, warrants, and other rights to acquire shares of Common Stock or securities convertible into or exchangeable for shares of Common Stock. 
 “Exercise Date” shall have the meaning set forth in Section 2.2 hereof. 
 “Exercise Price” shall mean initially, eleven dollars and fifty-eight cents ($11.58) per Warrant Share, as adjusted from time to time
pursuant to the terms of this Warrant. 
 “Expiration Date” shall mean the tenth anniversary of the Issue Date. 

“Fair Market Value” shall mean (i) the average of the last reported sale prices per share of Common Stock on the Nasdaq National
Market or any national securities exchange in which such Common Stock is quoted or listed, as the case may be, on the thirty (30) trading days immediately preceding the Exercise Date, or (ii) if such Common Stock is not quoted or listed on
the Nasdaq National Market or any national securities exchange, the fair market value of a share of such Common Stock, as determined in good faith by the Board of Directors of the Company. 
 “Holder” shall mean, as applicable, (i) the Initial Warrant Holder, or (ii) any successor of the Initial Warrant Holder.

 “Initial Warrant Holder” shall have the meaning set forth in the first paragraph of this Warrant. 
 “Issue Date” shall mean the date hereof. 
 “Person” shall mean an individual, partnership, corporation, limited liability company, business trust, joint stock company, trust, unincorporated association, joint venture, governmental authority or
other entity of whatever nature. 
 “Securities Act” shall mean the Securities Act of 1933, as amended. 
 “Stock” shall mean (i) Common Stock, (ii) capital stock of the Company (other than Common Stock) or of any other Person or any
other securities of the Company or of any other Person that the Holder is entitled to receive, or receives, upon exercise of this Warrant, in lieu of or in addition to Common Stock, and/or (iii) capital stock of the Company (other than Common
Stock) or of any other Person or any other securities of the Company or of any other Person that may be issued in replacement of, substitution, exchange or redemption for, or upon reclassification or conversion of, Common Stock or any other Stock,
in each case whether as a result of a reorganization, reclassification, merger, consolidation or sale of substantially all of the assets of the Company. 
  

 -2- 

 “Warrant” shall mean this Warrant To Purchase Common Stock of the Company. 

“Warrant Exercise Period” shall mean the period beginning on the Issue Date and ending at 5:00 P.M. (E.S.T.) on the Expiration Date.

 “Warrant Shares” shall mean, at any time, the Applicable Number of shares of Common Stock remaining subject to purchase
hereunder after giving effect to the number of shares of Common Stock previously purchased by the Holder pursuant to any and all exercises of this Warrant prior to such time and after giving effect to all adjustments with respect to the number of
Warrant Shares purchasable hereunder as provided for herein, including, without limitation, those set forth in Section 4 hereof, prior to such time. 
 2. Exercise Of Warrant. 
 2.1 Method of Exercise. 
 (a) Payment Exercise. Subject to and upon all of the terms and conditions set forth in this Warrant, the Holder may exercise this Warrant,
in whole or in part with respect to any Warrant Shares, at any time and from time to time during the Warrant Exercise Period, by presentation and surrender of this Warrant to the Company at its principal office, together with (a) a properly
completed and duly executed notice of exercise using the Form of Payment Exercise attached hereto, which notice shall specify the number of Warrant Shares for which this Warrant is then being exercised, and (b) payment of the aggregate Exercise
Price payable hereunder in respect of the number of Warrant Shares being purchased upon exercise of this Warrant. Payment of such aggregate Exercise Price and any such transfer taxes shall be made in cash, by money order, certified or bank
cashier’s check or wire transfer (in each case in lawful currency of the United States of America). 
 (b) Conversion
Exercise. As an alternative to payment in the manner provided in Section 2.1(a) above, the Holder may, in lieu of payment of such aggregate Exercise Price, elect not to receive all of such Warrant Shares but only to receive that
number of such Warrant Shares as shall be determined in accordance with the following formula: 
  

			
	X =	  	Y(A-B)
		  	      A

  

					
	 Where:
	  	X =	  	the number of Warrant Shares to be issued to the Holder pursuant to this Section 2.1(b)
			
		  	Y =	  	the number of Warrant Shares for which this Warrant is being exercised as of the applicable Exercise Date
			
		  	A =	  	the Fair Market Value as of the applicable Exercise Date of a share of the Stock constituting such Warrant Shares
			
		  	B =	  	the Exercise Price in effect as of the applicable Exercise Date of a share of the Stock constituting such Warrant Shares

  

 -3- 

 The Holder may elect to exercise this Warrant as to the number of Warrant Shares computed in the manner set forth in this
Section 2.1(b) by surrendering this Warrant to the Company at its principal office, together with (a) a properly completed and duly executed notice of exercise using the Form of Conversion Exercise attached hereto, which notice
shall specify the number of Warrant Shares for which this Warrant is then being exercised, the number of such Warrant Shares that the Holder is electing not to receive and the aggregate fair market value of such number of Warrant Shares that the
Holder is electing not to receive, (b) if requested by the Company, a duly executed instrument or certificate, in form and substance satisfactory to the Company, pursuant to which the Holder makes such representations and warranties to the
Company and provides or confirms such information concerning the Holder, as the Company may reasonably request (including, without limitation, such representations and warranties and such information as may be required in order to confirm compliance
with applicable securities laws), and (c) if applicable, the payment of any transfer taxes required to be paid by the Holder pursuant to Section 2.7 hereof. Payment of such transfer taxes shall be made in cash, by money order,
certified or bank cashier’s check or wire transfer (in each case in lawful currency of the United States of America). 
 2.2 Effectiveness of Exercise; Ownership. Each exercise of this Warrant by the Holder shall be deemed to have been effected immediately prior to the close of business on the date upon which all of the
requirements of Section 2.1 hereof with respect to such exercise shall have been complied with in full (each such date, an “Exercise Date”). On the applicable Exercise Date with respect to any exercise of this Warrant by
the Holder, the Company shall be deemed to have issued to the Holder, and the Holder shall be deemed to have become the holder of record and legal owner of, the number of Warrant Shares being purchased upon such exercise of this Warrant,
notwithstanding that the stock transfer books of the Company shall then be closed or that certificates representing such number of Warrant Shares being purchased shall not then be actually delivered to the Holder. 
 2.3 Delivery of Stock Certificates on Exercise. As soon as practicable after the exercise of this Warrant, and in any event
within ten (10) days thereafter, the Company, at its expense and in accordance with applicable securities laws, will cause to be issued in the name of and delivered to the Holder, or as the Holder may direct (subject in all cases, to the
provisions of Section 9 hereof), a certificate or certificates for the number of Warrant Shares purchased by the Holder on such exercise, plus, in lieu of any fractional share to which the Holder would otherwise be entitled, cash
equal to such fraction multiplied by the Fair Market Value. 
 2.4 Shares To Be Fully Paid and Nonassessable. All
Warrant Shares issued upon the exercise of this Warrant shall be validly issued, fully paid and nonassessable, free of all liens, transfer taxes, charges and other encumbrances or restrictions on sale (other than those set forth herein) and free and
clear of all preemptive rights. 
 2.5 Fractional Shares. No fractional shares of Stock shall be issued upon the
exercise of this Warrant. With respect to any fraction of a share of Stock called for upon any exercise hereof, the Company shall make a cash payment to the Holder as set forth in Section 2.3 hereof. 
 2.6 Issuance of New Warrants; Company Acknowledgment. Upon any partial exercise of this Warrant, the Company, at its expense,
will forthwith and, in any event, within 

  

 -4- 

 
ten (10) days after such partial exercise, issue and deliver to the Holder a new warrant or warrants of like tenor, registered in the name of the
Holder, exercisable, in the aggregate, for the balance of the Warrant Shares. 
 2.7 Payment of Taxes and Expenses.
The Company shall pay any recording, filing, stamp or similar tax (other than income or similar taxes) which may be payable in respect of any transfer involved in the issuance of, and the preparation and delivery of certificates (if applicable)
representing any Warrant Shares purchased upon exercise of this Warrant; provided, however, that the Company shall not be required to pay any tax or taxes which may be payable in respect of the issuance or delivery of any new or replacement warrant,
or any transfer thereof, and no such issuance, delivery or transfer shall be made unless and until the person requesting such issuance or transfer has paid to the Company the amount of any such tax, or has established to the satisfaction of the
Company that no such tax is payable or such tax has been paid. 
 3. Investor Rights. The Holder of this Warrant is a
party to, and the shares of Common Stock issuable upon exercise of this Warrant will be subject to, the terms and conditions of the following agreements: 
  

	 	•	 	 the Investors’ Rights Agreement dated as of December 20, 2004 among the Company and the security holders of the Company named therein (the
“Investors’ Rights Agreement”); 

  

	 	•	 	 the Right of First Refusal and Co-Sale Agreement dated as of December 20, 2004 among the Company and the security holders of the Company named therein (the
“Right of First Refusal and Co-Sale Agreement”); and 

  

	 	•	 	 the Voting Agreement dated as of December 20, 2004 among the Company and the security holders of the Company named therein (the “Voting
Agreement”). 

 These agreements are collectively referred to in this Warrant as the “Stockholder Agreements”.

 4. Adjustments. The Exercise Price and the Applicable Number shall be subject to adjustment from time to time as set
forth in this Section 4. 
 4.1 Adjustments for Certain Dilutive Issuances, Splits and Combinations. 

 (a) Stock Splits and Dividends. If at any time or from time to time after the Issue Date and while this Warrant, or any
portion thereof, is outstanding, the Company fixes a record date for the effectuation of a split or subdivision of the outstanding shares of (i) Common Stock or the determination of holders of Common Stock entitled to receive a dividend or
other distribution payable in additional shares of Common Stock or other securities or rights convertible into, or entitling the holder thereof to receive directly or indirectly, additional shares of Common Stock (hereinafter referred to as
“Common Stock Equivalents”) without payment of any consideration by such holder for the additional shares of Common Stock or the Common Stock Equivalents (including the additional shares of Common Stock issuable upon conversion or
exercise thereof), the Exercise Price shall be appropriately decreased and the number of Warrant Shares issuable to the Holder on exercise of this Warrant shall be increased in proportion to such increase of the aggregate total of the shares of
Common Stock outstanding and shares issuable with respect to such Common Stock Equivalents. In the event that, following any adjustment pursuant to this Section 4.1(a) with respect to Common Stock 

  

 -5- 

 
Equivalents, the right to acquire shares of Common Stock pursuant to such Common Stock Equivalents shall expire or be terminated unexercised, there shall be
a proportionate readjustment to increase the Exercise Price and decrease the Applicable Number. 
 (b) Reverse Stock Splits. If
at any time or from time to time after the Issue Date and while this Warrant, or any portion thereof, is outstanding, the number of shares of Common Stock is decreased by a combination (by reverse stock split or otherwise) of the outstanding shares
of Common Stock, then, following the record date of such combination, the Exercise Price shall be appropriately increased and the Applicable Number of Warrant Shares issuable to the Holder upon exercise of this Warrant shall be decreased in
proportion to such decrease in outstanding shares. 
 4.2 Adjustment for Reorganization, Consolidation, Merger or
Reclassification. If after the Issue Date the Company shall (i) effect a reorganization, (ii) consolidate with or merge into any other Person, (iii) change the shares of Common Stock issuable upon exercise of this Warrant into
the same or a different number of shares of any class(es) or series of stock, whether by reclassification or otherwise, or (iv) sell or transfer all or substantially all of its properties or assets to any other Person under any plan or
arrangement contemplating the dissolution of the Company, then, in each such case, the Holder, upon the exercise of this Warrant as provided in Section 2 hereof at any time or from time to time after the consummation of such
reorganization, consolidation, reclassification, merger or sale, or the effective date of such dissolution, as the case may be, shall receive, in lieu of the Warrant Shares issuable on such exercise immediately prior to such consummation or such
effective date, as the case may be, the Stock and property (including cash) to which the Holder would have been entitled upon the consummation of such reorganization, consolidation, reclassification or merger, or in connection with such dissolution,
as the case may be, if the Holder had so exercised this Warrant immediately prior thereto (assuming the payment by the Holder of the Exercise Price therefor as required hereby in a form permitted hereby, which payment shall be included in the assets
of the Company for the purposes of determining the amount available for distribution), all subject to successive adjustments thereafter from time to time pursuant to, and in accordance with, the provisions of this Section 4. In the event
that as a result of any consolidation, merger or sale of all or substantially all of its property or assets to any other person, this Warrant would then be exercisable for cash consideration pursuant to the proceeding provisions of this
Section 4.2, the Company may require that this Warrant be cancelled in exchange for a cash payment representing the difference between the aggregate consideration payable to the holder of this Warrant as a result of such transaction and
the foregoing provisions of this Section 4.2 and the total Exercise Price. In the event that the Exercise Price is greater than the total amount of consideration that would be payable to the Holder of this Warrant as a result of such
transaction and the foregoing provisions of this Section 4.2, then the Company shall be entitled to cancel this Warrant upon consummation of such merger, consolidation or other sale transaction. 
 4.3 Continuation of Terms. Except as provided in Section 4.2 above, upon any reorganization, reclassification, sale,
consolidation, merger or other transfer referred to in this Section 4, this Warrant shall continue in full force and effect and the terms hereof shall be applicable to the shares of Stock and property (including cash, where applicable)
receivable upon the exercise of this Warrant after the consummation of such reorganization, reclassification, sale, consolidation, merger or other transfer, as the case may be, and shall be binding upon the issuer of any such Stock, whether or not
such Person shall have expressly assumed the terms of this Warrant. 
  

 -6- 

 4.4 Other Adjustments. If any event occurs of the type contemplated by the provisions of
this Section 4 but not expressly provided for by such provisions (including, without limitation, the granting of stock appreciation rights, phantom stock rights or other rights with equity features), then the Company’s Board of
Directors, acting in good faith and consistent with their fiduciary duties, shall make an appropriate adjustment in the Exercise Price and the number of shares of Warrant Shares obtainable upon exercise of this Warrant so as to protect the rights of
the holders of the Warrants; provided that no such adjustment shall increase the Exercise Price or decrease the number of shares of Warrant Shares obtainable as otherwise determined pursuant to this Section 4. 
 5. Officer’s Certificate as to Adjustments. In each case of any adjustment or readjustment in the number and kind of Warrant
Shares, or property, issuable hereunder from time to time, or the Exercise Price, the Company, at its expense, will promptly cause an officer of the Company to compute such adjustment or readjustment in accordance with the terms of this Warrant and
prepare a certificate setting forth such adjustment or readjustment and showing the facts upon which such adjustment or readjustment is based. The Company will forthwith send a copy of each such certificate to the Holder in accordance with
Section 10.4 below. 
 6. Notices of Record Date, Etc. In the event of 
 (a) any taking by the Company of a record of the holders of Stock for the purpose of determining the holders thereof who are entitled to receive any
shares of Stock as a dividend or other distribution or pursuant to a stock split, or 
 (b) any reorganization of the Company, or any sale or
transfer, in a single transaction or a series of related transactions, of all or substantially all the assets of the Company to, or the consolidation or merger of the Company with or into, any other Person, or 
 (c) any voluntary or involuntary dissolution, liquidation or winding-up of the Company, or 
 (d) any sale, in a single transaction or a series of related transactions, of a majority of the Company’s voting stock (whether newly issued, or from
treasury, or previously issued and then outstanding, or any combination thereof) 
 then and in each such event the Company will mail or cause to be mailed
to the Holder a notice specifying (i) the date on which any such record is to be taken for the purpose of such dividend, distribution or stock split, and stating the amount and character of such dividend, distribution or stock split, or
(ii) the date on which any such reorganization, transfer, consolidation, merger, dissolution, liquidation or winding-up is to take place, and the time, if any is to be fixed, as of which the holders of record of any one or more classes of Stock
shall be entitled to exchange their shares of Stock for securities or other property deliverable on such reorganization, transfer, consolidation, merger, dissolution, liquidation or winding-up, or (iii) the date on which such sale of a majority
of the Company’s voting stock is to take place and the material terms thereof, as the case may be. Such notice shall be mailed at least ten (10) days prior to the date specified in such notice on which any such action is to be taken.

  

 -7- 

 7. Exchange of Warrant. Subject to the provisions of Section 9 hereof (if
and to the extent applicable), this Warrant shall be exchangeable, upon the surrender hereof by the Holder at the principal office of the Company, for new warrants of like tenor, each registered in the name of the Holder or in the name of such other
Persons as the Holder may direct, subject to any transfer restrictions stated herein. Each of such new warrants shall be exercisable for such number of Warrant Shares as the Holder shall direct, provided that all of such new warrants shall
represent, in the aggregate, the right to purchase the same number of Warrant Shares and cash, securities or other property, if any, the Holder may purchase upon exercise of this Warrant at the time of its surrender (assuming for purposes of this
sentence that the Warrant Shares are in the Applicable Number of Warrant Shares at the time of such exchange). 
 8. Replacement
of Warrant. On receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant and, in the case of any such loss, theft or destruction of this Warrant, on delivery of a customary
affidavit of the Holder and an indemnity agreement or, in the case of any such mutilation, on surrender and cancellation of this Warrant, the Company at its expense will execute and deliver, in lieu thereof, a new warrant of like tenor and amount.

 9. Transfer Provisions, etc. 
 9.1 Legends. 
 (a) Each certificate representing any Warrant Shares issued upon exercise
of this Warrant shall bear substantially the following legend: 
 “THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED, AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT FOR SUCH SECURITIES UNDER THE SECURITIES ACT OF 1933 AND APPLICABLE STATE LAW OR AN OPINION OF COUNSEL ACCEPTABLE TO THE
BORROWER THAT SUCH REGISTRATION IS NOT REQUIRED UNDER SUCH LAWS. 
 THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO
CERTAIN RESTRICTIONS AND AGREEMENTS, INCLUDING WITHOUT LIMITATION, RESTRICTIONS ON TRANSFER AND VOTING AGREEMENTS, SET FORTH IN THE INVESTORS’ RIGHTS AGREEMENT, THE RIGHT OF FIRST REFUSAL AND CO-SALE AGREEMENT AND THE VOTING AGREEMENT (EACH AS
DEFINED IN THE WARRANT), BY AND AMONG THE ISSUER OF SUCH SECURITIES AND THE REGISTERED HOLDER OF THIS CERTIFICATE (OR SUCH HOLDER’S PREDECESSOR-IN-INTEREST) AND CERTAIN OTHERS. A COPY OF SUCH AGREEMENT IS ON FILE AND MAY BE INSPECTED BY THE
REGISTERED HOLDER OF THIS CERTIFICATE AT THE PRINCIPAL EXECUTIVE OFFICE OF THE ISSUER.” 
  

 -8- 

 (b) Each certificate representing any shares of Stock issued from time to time upon exercise of this
Warrant shall also bear any legend required under any applicable state securities or blue sky laws. 
 9.2 Mechanics of
Transfer. Any transfer of all or any portion of this Warrant, or of any interest therein, that is otherwise in compliance with this Warrant, the terms of the Stockholder Agreements and applicable law shall be effected by surrendering this
Warrant to the Company at its principal office, together with (i) a duly executed form of assignment, in the form attached hereto, (ii) payment of any applicable transfer taxes, if any, and (iii) any investment representation letters
or legal opinions as to the availability of an exemption from the registration requirements of the Securities Act in a form reasonably satisfactory to the Company, if such are requested by the Company. In the event of any such transfer of this
Warrant, in whole, the Company shall issue a new warrant of like tenor to the transferee, representing the right to purchase the same number of Warrant Shares, and cash, securities or other property, if any, which were purchasable by the Holder upon
exercise of this Warrant at the time of its transfer. In the event of any such transfer of any portion of this Warrant, (i) the Company shall issue a new warrant of like tenor to the transferee, representing the right to purchase the same
number of Warrant Shares, and cash, securities or other property, if any, which were purchasable by the Holder upon exercise of the transferred portion of this Warrant at the time of such transfer, and (ii) the Company shall issue a new warrant
of like tenor to the Holder, representing the right to purchase the number of Warrant Shares, and cash, securities or other property, if any, purchasable by the Holder upon exercise of the portion of this Warrant not transferred to such transferee.
Until this Warrant or any portion thereof is transferred on the books of the Company, the Company may treat the Holder as the absolute holder of this Warrant and all right, title and interest therein for all purposes, notwithstanding any notice to
the contrary. 
 10. General. 
 10.1 Authorized Shares; Reservation of Shares for Issuance. At all times while this Warrant is outstanding, the Company shall maintain its corporate authority to issue, and shall have authorized and
reserved for issuance upon exercise of this Warrant, such number of shares of Common Stock as shall be sufficient to perform its obligations under this Warrant (after giving effect to any and all adjustments to the number and kind of Warrant Shares
purchasable upon exercise of this Warrant), and such number of shares of Stock as shall be sufficient to perform its obligations with respect to conversion of Common Stock issued upon exercise of this Warrant. 
 10.2 No Impairment. The Company will not, by amendment of its Certificate of Incorporation or through any reorganization, transfer of
assets, consolidation, merger, dissolution, issuance or sale of securities, sale or other transfer of any of its assets or properties, or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this
Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such action as may be necessary or appropriate in order to protect the rights of the Holder hereunder against impairment. Without
limiting the generality of the foregoing, the Company (a) will not increase the par value of any shares of Stock receivable upon the exercise of this Warrant above the amount payable therefor on such exercise, and (b) will take all action
that may be necessary or appropriate in order that the Company may validly and legally issue fully paid and nonassessable shares of Stock on the exercise of this Warrant. 
  

 -9- 

 10.3 No Rights as Stockholder. The Holder shall not be entitled to vote or to receive
dividends or to be deemed the holder of Stock that may at any time be issuable upon exercise of this Warrant for any purpose whatsoever, nor shall anything contained herein be construed to confer upon the Holder any of the rights of a stockholder of
the Company until the Holder shall have exercised this Warrant and been issued Warrant Shares in accordance with the provisions hereof. 
 10.4 Notices. All notices, demands, requests, certificates or other communications under this Warrant shall be in writing and shall be either mailed by certified mail, postage prepaid, in which case such notice, demand,
request, certificate or other communications shall be deemed to have been given three (3) days after the date on which it is first deposited in the mails, or hand delivered or sent by facsimile transmission, by tested or otherwise authenticated
telex or cable or by private expedited courier for overnight delivery with signature required, in each such case, such notice, demand, request, certificate or other communications being deemed to have been given upon delivery or receipt, as the case
may be: 
 (i) If to the Company: 
 BC International Corporation 
 980 Washington Street 
 Suite 122 
 Dedham, MA 02026 
 Attention: President 
 Telecopier No. (781) 461-2626 
 with a copy sent at the same time and by the same means to: 
 John R. Utzschneider, Esq.

 Bingham McCutchen LLP 
 150 Federal Street 
 Boston, Massachusetts 02110 
 Telecopier No. (617) 951-8736 
 (ii) if to the Holder, at the Holder’s address appearing in the books maintained by the Company. 
 10.5 Amendment
and Waiver. No failure or delay of the Holder in exercising any power or right hereunder shall operate as a waiver thereof, other than the failure to exercise this Warrant on or prior to the Expiration Date, nor shall any single or partial
exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or power. The rights and remedies of the Holder
are cumulative and not exclusive of any rights or remedies which it would otherwise have. The provisions of this Warrant may be amended, modified or waived with (and only with) the written consent of the Company and the Holder. 
 10.6 Governing Law. This Agreement shall be governed by and construed in accordance with the General Corporation Law of the State of
Delaware as to matters within the scope thereof, and as to all other matters shall be governed by and construed in accordance with the internal laws of the Commonwealth of Massachusetts, without regard to its principles of conflicts of laws.

  

 -10- 

 10.7 Dispute Resolution. Any unresolved controversy or claim arising out of or
relating to this Warrant shall be submitted to arbitration by one arbitrator mutually agreed upon by the parties, and if no agreement can be reached within 30 days after names of potential arbitrators have been proposed by the American Arbitration
Association (the “AAA”), then by one arbitrator having reasonable experience in corporate finance transactions of the type provided for in this Warrant and who is chosen by the AAA. The arbitration shall take place in Boston,
Massachusetts, in accordance with the AAA rules then in effect, and judgment upon any award rendered in such arbitration will be binding and may be entered in any court having jurisdiction thereof. There shall be limited discovery prior to the
arbitration hearing as follows: (a) exchange of witness lists and copies of documentary evidence and documents relating to or arising out of the issues to be arbitrated, (b) depositions of all party witnesses and (c) such other
depositions as may be allowed by the arbitrators upon a showing of good cause. Depositions shall be conducted in accordance with the Massachusetts Rules of Civil Procedure, the arbitrator shall be required to provide in writing to the parties the
basis for the award or order of such arbitrator, and a court reporter shall record all hearings, with such record constituting the official transcript of such proceedings. The prevailing party shall be entitled to reasonable attorney’s fees,
costs, and necessary disbursements in addition to any other relief to which such party may be entitled. Each of the parties to this Warrant consents to personal jurisdiction in the U.S. District Court or state court sited in Boston, Massachusetts
having subject matter jurisdiction for any equitable action sought to enforce the provisions of this Section 10.7 or to enforce any arbitration award received pursuant to an arbitration commenced pursuant to this
Section 10.7. 
 10.8 Covenants To Bind Successor and Assigns. All covenants, stipulations, promises and
agreements in this Warrant contained by or on behalf of the Company shall bind its successors and assigns, whether so expressed or not. 
 10.9 Severability. In case any one or more of the provisions contained in this Warrant shall be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions
contained herein shall not in any way be affected or impaired thereby. The parties shall endeavor in good faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as
close as possible to that of the invalid, illegal or unenforceable provisions. 
 10.11 Construction. The
definitions of this Warrant shall apply equally to both the singular and the plural forms of the terms defined. Wherever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The section and
paragraph headings used herein are for convenience of reference only, are not part of this Warrant and are not to affect the construction of or be taken into consideration in interpreting this Warrant. 
 10.12 Remedies. The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be
entitled to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to
waive the defense in any action for specific performance that a remedy at law would be adequate. In any action or proceeding brought to enforce any provision of this Warrant or where any provision hereof is validly asserted as a defense, the
successful party to such action or proceeding shall be entitled to recover reasonable attorneys’ fees in addition to any other available remedy. 
  

 -11- 

 10.13 Subject to Other Agreements. The Warrant Shares, if issued, shall be subject to the
terms and conditions of the Stockholder Agreements, as to which the then Holder hereof shall become a party upon the Holder’s exercise of this Warrant, in whole or in part. 
 10.14 Waiver of Jury Trial. Each of the Company and the Holder hereby waives its rights to a jury trial with respect to any action or claim
arising out of any dispute in connection with, or contemplated by, this Warrant. 
 10.15. Waiver of Certain Damages. Each of
the Company and the Holder, to the fullest extent permitted by law, irrevocably waives any rights that they may have to incidental, consequential or special (including punitive or multiple) damages or any equitable equivalent thereof or substitute
therefor based upon, or arising out of, this Warrant or any course of conduct, course of dealing, statements or actions of any of them relating thereto. 
  

 -12- 

 IN WITNESS WHEREOF, the Company has caused this Warrant to be executed in its corporate name by
one of its officers thereunto duly authorized, all as of the day and year first above written. 
  

			
	BC INTERNATIONAL CORPORATION
		
	By:	 	 /s/ Robert Johnsen

	Name:	 	Robert Johnsen
	Title:	 	President and CEO

 Acknowledged and Agreed to by 
 the Holder as of the Date First 
 Above Written: 
  

			
	RHO VENTURES IV, L.P.
	By:	 	Rho Management Ventures IV, L.L.C.,
		 	its General Partner
		
	By:	 	 /s/ Jeffrey Martin

	Name:	 	Jeffrey Martin
	Title:	 	Attorney in Fact

  

 -13- 

 FORM OF PAYMENT EXERCISE 
 (To be executed upon cash payment exercise of Warrant) 
 To: BC INTERNATIONAL CORPORATION

 The undersigned hereby irrevocably elects to exercise the right of purchase represented by the attached Warrant for, and to exercise
thereunder,              shares of Common Stock, $.0001 par value per share (“Common Stock”), of BC International Corporation, a Delaware corporation, and tenders
herewith payment of $            , representing the aggregate purchase price for such shares based on the price per share provided for in such Warrant. Such payment is being made in
accordance with Section 2.1(a) of the attached Warrant. 
 Please issue a certificate or certificates for such shares of Common Stock in
the following name or names and denominations and deliver such certificate or certificates to the person or persons listed below at their respective addresses set forth below: 
  

									
	 Dated:
	 	  
	 	 	 	 	 	  

	 	 	 	 	 	 	 	 	(Name)
					
	 	 	 	 	 	 	 	 	  

		 		 		 		 	(Address)

 If said number of shares of Common Stock shall not be all the shares of Common Stock issuable upon
exercise of the attached Warrant, a new Warrant is to be issued in the name of the undersigned for the balance remaining of such shares of Common Stock less any fraction of a share of Common Stock paid in cash. 
  

					
	Dated:	 	  
	 	  

		 		 	NOTE: The above signature should correspond exactly with the name on the face of the attached Warrant or with the name of the assignee appearing in the assignment form below.

 FORM OF CONVERSION EXERCISE 
 (To be executed upon net issue exercise of Warrant) 
 To: BC INTERNATIONAL CORPORATION

 The undersigned hereby irrevocably elects to exercise the right of purchase represented by the attached Warrant for, and to exercise
thereunder,              shares of Common Stock, par value $0.0001 per share (the “Exercise Shares”) of BC International Corporation, a Delaware corporation (the
“Company”). The aggregate Exercise Price (as defined in the attached Warrant) to purchase all such Exercise Shares is $            . Pursuant to Section 2.1(b)
of the attached Warrant, the undersigned hereby elects, in lieu of paying in cash such aggregate Exercise Price, to surrender the right to receive              of the Exercise Shares
(the “Surrendered Warrant Shares”). The aggregate fair market value of the Surrendered Warrant Shares is $            . The net number of Exercise Shares issuable by
the Company (after giving effect to the surrender by the undersigned of the Surrendered Warrant Shares) in connection with such exercise shall be              shares (the
“Net Issue Exercise Shares”). 
 Please issue a certificate or certificates for the Net Issue Exercise Shares in the
following name or names and denominations and deliver such certificate or certificates to the person or persons listed below at their respective addresses set forth below: 
  

					
	 	 	 	 	  

	 	 	 	 	(Name)
			
	 	 	 	 	  

	 	 	 	 	(Address)
	
	 If the sum of the Net Issue Exercise Shares and the Surrendered Warrant Shares shall not be all the Warrant Shares
issuable upon exercise of the
attached Warrant, a new Warrant is to be issued in the name of the undersigned for the
balance remaining of such Warrant Shares (less any fraction of a Warrant Share paid in cash).

			
	Dated:	 	  
	 	  

		 		 	NOTE: The above signature should correspond exactly with the name on the face of the attached Warrant or with the name of the assignee appearing in the assignment form below.

 FORM OF ASSIGNMENT 
 (To be executed upon assignment of Warrant) 
 For value received,
                                        
                 hereby sells, assigns and transfers unto
                             the attached Warrant [    % of the attached
Warrant], together with all right, title and interest therein, and does hereby irrevocably constitute and appoint
                                        
attorney to transfer said Warrant [said percentage of said Warrant] on the books of BC International Corporation, a Delaware corporation, with full power of substitution in the premises. 
 If not all of the attached Warrant is to be so transferred, a new Warrant is to be issued in the name of the undersigned for the balance of said Warrant.

  

							
	Dated:	 	                    ,        	 	 	 	  

		 		 		 	NOTE: The above signature should correspond exactly with the name on the face of the attached Warrant.

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