Document:

Form of Stock Purchase Agreement (non-US)

 Exhibit 10.44 

AMYRIS BIOTECHNOLOGIES, INC.  

STOCK PURCHASE AGREEMENT 

(FOR NON-U.S. EMPLOYEES) 

AGREEMENT made this              day of
                        ,              by and between
Amyris Biotechnologies, Inc., a California corporation, and «First» «Last», Optionee under the Corporation’s 2005 Stock Option/Stock Issuance Plan. 

All capitalized terms in this Agreement shall have the meaning assigned to them in this Agreement or in the attached
Appendix. 
 A.        EXERCISE OF OPTION 

1.        Exercise. Optionee hereby purchases
             shares of Common Stock (the “Purchased Shares”) pursuant to that certain option (the “Option”) granted Optionee on
             (the “Grant Date”) to purchase up to «M__Option_Shares» shares of Common Stock (the “Option Shares”) under the Plan at the exercise price
of $US             per share (the “Exercise Price”). 

2.        Payment. Concurrently with the delivery of this
Agreement to the Corporation, Optionee shall pay the Exercise Price for the Purchased Shares in accordance with the provisions of the Option Agreement and shall deliver whatever additional documents may be required by the Option Agreement as a
condition for exercise. 
 3.        Responsibility for
Taxes. Current with the delivery of this Agreement, Optionee will pay or make adequate arrangements satisfactory to the Corporation and/or the Optionee’s Employer to satisfy all Tax-Related Items. In this regard, Optionee authorizes the
Corporation and/or the Employer, or their respective agents, at their discretion, to satisfy the obligations with regard to all Tax-Related Items by one or a combination of the following: (i) withholding from Optionee’s wages or other cash
compensation paid to Optionee by the Corporation, and/or the Employer; or (ii) withholding from proceeds of the sale of shares of Common Stock acquired at exercise of the Option either through a voluntary sale or through a mandatory sale
arranged by the Corporation (on Optionee’s behalf pursuant to this authorization); or (iii) withholding in shares of Common Stock to be issued at exercise of the Option. 

Finally, Optionee shall pay to the Corporation or the Employer any amount of Tax-Related Items that the Corporation or
the Employer may be required to withhold or account for as a result of Optionee’s participation in the Plan that cannot be satisfied by the means previously described. The Corporation may refuse to issue or deliver the shares or the proceeds of
the sale of shares of Common Stock if Optionee fails to comply with Optionee’s obligations in connection with the Tax-Related Items. 

 4.        Stockholder
Rights. Until such time as the Corporation exercises the Repurchase Right or the First Refusal Right, Optionee (or any successor in interest) shall have all the rights of a stockholder (including voting, dividend and liquidation rights) with
respect to the Purchased Shares, subject, however, to the transfer restrictions of Articles B and C. 

B.        SECURITIES LAW COMPLIANCE 

1.        Restricted Securities. The Purchased Shares have not
been registered under the 1933 Act and are being issued to Optionee in reliance upon the exemption from such registration provided by SEC Rule 701 for stock issuances under compensatory benefit plans such as the Plan. Optionee hereby confirms that
Optionee has been informed that the Purchased Shares are restricted securities under the 1933 Act and may not be resold or transferred unless the Purchased Shares are first registered under the Federal securities laws or unless an exemption from
such registration is available. Accordingly, Optionee hereby acknowledges that Optionee is acquiring the Purchased Shares for investment purposes only and not with a view to resale and is prepared to hold the Purchased Shares for an indefinite
period and that Optionee is aware that SEC Rule 144 issued under the 1933 Act which exempts certain resales of unrestricted securities is not presently available to exempt the resale of the Purchased Shares from the registration requirements of the
1933 Act. 
 2.        Restrictions on Disposition of Purchased
Shares. Optionee shall make no disposition of the Purchased Shares (other than a Permitted Transfer) unless and until there is compliance with all of the following requirements: 

(i)        Optionee shall have provided the Corporation with a
written summary of the terms and conditions of the proposed disposition. 

(ii)        Optionee shall have complied with all requirements
of this Agreement applicable to the disposition of the Purchased Shares. 

(iii)        Optionee shall have provided the Corporation with
written assurances, in form and substance satisfactory to the Corporation, that (a) the proposed disposition does not require registration of the Purchased Shares under the 1933 Act or (b) all appropriate action necessary for compliance
with the registration requirements of the 1933 Act or any exemption from registration available under the 1933 Act (including Rule 144) has been taken. 

The Corporation shall not be required (i) to transfer on its books any Purchased Shares which have been sold or
transferred in violation of the provisions of this Agreement or (ii) to treat as the owner of the Purchased Shares, or otherwise to accord voting, dividend or liquidation rights to, any transferee to whom the Purchased Shares have been
transferred in contravention of this Agreement. 

3.        Restrictive Legends. The stock certificates for the
Purchased Shares shall be endorsed with one or more of the following restrictive legends: 
  

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 “The shares represented by this certificate have not
been registered under the Securities Act of 1933. The shares may not be sold or offered for sale in the absence of (a) an effective registration statement for the shares under such Act, (b) a ‘no action’ letter of the Securities
and Exchange Commission with respect to such sale or offer or (c) satisfactory assurances to the Corporation that registration under such Act is not required with respect to such sale or offer.” 

C.        TRANSFER RESTRICTIONS 

1.        Restriction on Transfer. Except for any Permitted
Transfer, Optionee shall not transfer, assign, encumber or otherwise dispose of any of the Purchased Shares in contravention of the First Refusal Right or the Market Stand-Off. 

2.        Transferee Obligations. Each person (other than the
Corporation) to whom the Purchased Shares are transferred by means of a Permitted Transfer must, as a condition precedent to the validity of such transfer, acknowledge in writing to the Corporation that such person is bound by the provisions of this
Agreement and that the transferred shares are subject to (i) the First Refusal Right and (ii) the Market Stand-Off, to the same extent such shares would be so subject if retained by Optionee. 

3.        Market Stand-Off. 

(a)        In connection with any underwritten public offering by the
Corporation of its equity securities pursuant to an effective registration statement filed under the 1933 Act, including the Corporation’s initial public offering, Owner shall not sell, make any short sale of, loan, hypothecate, pledge, grant
any option for the purchase of, or otherwise dispose or transfer for value or otherwise agree to engage in any of the foregoing transactions with respect to, any Purchased Shares without the prior written consent of the Corporation or its
underwriters. Such restriction (the “Market Stand-Off”) shall be in effect for such period of time from and after the effective date of the final prospectus for the offering as may be requested by the Corporation or such underwriters. In
no event, however, shall such period exceed one hundred eighty (180) days, and the Market Stand-Off shall in no event be applicable to any underwritten public offering effected more than two (2) years after the effective date of the
Corporation’s initial public offering. 
 (b)        Owner shall
be subject to the Market Stand-Off provided and only if the officers and directors of the Corporation are also subject to similar restrictions. 

(c)        Any new, substituted or additional securities which are by reason of
any Recapitalization or Reorganization distributed with respect to the Purchased Shares shall be immediately subject to the Market Stand-Off, to the same extent the Purchased Shares are at such time covered by such provisions. 

(d)        In order to enforce the Market Stand-Off, the Corporation may impose
stop-transfer instructions with respect to the Purchased Shares until the end of the applicable stand-off period. 
  

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 D.        RIGHT OF FIRST
REFUSAL 
 1.        Grant. The Corporation is
hereby granted the right of first refusal (the “First Refusal Right”), exercisable in connection with any proposed transfer of the Purchased Shares in which Optionee has vested. For purposes of this Article D, the term “transfer”
shall include any sale, assignment, pledge, encumbrance or other disposition of the Purchased Shares intended to be made by Owner, but shall not include any Permitted Transfer. 

2.        Notice of Intended Disposition. In the event any Owner
of Purchased Shares in which Optionee has vested desires to accept a bona fide third-party offer for the transfer of any or all of such shares (the Purchased Shares subject to such offer to be hereinafter referred to as the “Target
Shares”), Owner shall promptly (i) deliver to the Corporation written notice (the “Disposition Notice”) of the terms of the offer, including the purchase price and the identity of the third-party offeror, and (ii) provide
satisfactory proof that the disposition of the Target Shares to such third-party offeror would not be in contravention of the provisions set forth in Articles B and C. 

3.        Exercise of the First Refusal Right. The Corporation
shall, for a period of twenty-five (25) days following receipt of the Disposition Notice, have the right to repurchase any or all of the Target Shares subject to the Disposition Notice upon the same terms as those specified therein or upon such
other terms (not materially different from those specified in the Disposition Notice) to which Owner consents. Such right shall be exercisable by delivery of written notice (the “Exercise Notice”) to Owner prior to the expiration of the
twenty-five (25)-day exercise period. If such right is exercised with respect to all the Target Shares, then the Corporation shall effect the repurchase of such shares, including payment of the purchase price, not more than five (5) business
days after delivery of the Exercise Notice; and at such time the certificates representing the Target Shares shall be delivered to the Corporation. 

Should the purchase price specified in the Disposition Notice be payable in property other than cash or evidences of
indebtedness, the Corporation shall have the right to pay the purchase price in the form of cash equal in amount to the value of such property. If Owner and the Corporation cannot agree on such cash value within ten (10) days after the
Corporation’s receipt of the Disposition Notice, the valuation shall be made by an appraiser of recognized standing selected by Owner and the Corporation or, if they cannot agree on an appraiser within twenty (20) days after the
Corporation’s receipt of the Disposition Notice, each shall select an appraiser of recognized standing and the two (2) appraisers shall designate a third appraiser of recognized standing, whose appraisal shall be determinative of such
value. The cost of such appraisal shall be shared equally by Owner and the Corporation. The closing shall then be held on the later of (i) the fifth (5th) business day following delivery of the Exercise Notice or (ii) the fifth
(5th) business day after such valuation shall have been made. 

4.        Non-Exercise of the First Refusal Right. In the event
the Exercise Notice is not given to Owner prior to the expiration of the twenty-five (25)-day exercise period, Owner shall have a period of thirty (30) days thereafter in which to sell or otherwise dispose of

  

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the Target Shares to the third-party offeror identified in the Disposition Notice upon terms (including the purchase price) no more favorable to such third-party offeror than those specified in
the Disposition Notice; provided, however, that any such sale or disposition must not be effected in contravention of the provisions of Articles B and C. The third-party offeror shall acquire the Target Shares subject to the First Refusal
Right and the provisions and restrictions of Article B and Paragraph C.3, and any subsequent disposition of the acquired shares must be effected in compliance with the terms and conditions of such First Refusal Right and the provisions and
restrictions of Article B and Paragraph C.3. In the event Owner does not effect such sale or disposition of the Target Shares within the specified thirty (30)-day period, the First Refusal Right shall continue to be applicable to any subsequent
disposition of the Target Shares by Owner until such right lapses. 

5.        Partial Exercise of the First Refusal Right. In the
event the Corporation makes a timely exercise of the First Refusal Right with respect to a portion, but not all, of the Target Shares specified in the Disposition Notice, Owner shall have the option, exercisable by written notice to the Corporation
delivered within five (5) business days after Owner’s receipt of the Exercise Notice, to effect the sale of the Target Shares pursuant to either of the following alternatives: 

(i)        sale or other disposition of all the Target Shares to
the third-party offeror identified in the Disposition Notice, but in full compliance with the requirements of Paragraph D.4, as if the Corporation did not exercise the First Refusal Right; or 

(ii)        sale to the Corporation of the portion of the Target
Shares which the Corporation has elected to purchase, such sale to be effected in substantial conformity with the provisions of Paragraph D.3. The First Refusal Right shall continue to be applicable to any subsequent disposition of the remaining
Target Shares until such right lapses. 
 Owner’s failure to deliver timely notification to the
Corporation shall be deemed to be an election by Owner to sell the Target Shares pursuant to alternative (i) above. 

6.        Recapitalization/Reorganization. 

(a)        Any new, substituted or additional securities or other property which
is by reason of any Recapitalization distributed with respect to the Purchased Shares shall be immediately subject to the First Refusal Right, but only to the extent the Purchased Shares are at the time covered by such right. 

(b)        In the event of a Reorganization, the First Refusal Right shall
remain in full force and effect and shall apply to the new capital stock or other property received in exchange for the Purchased Shares in consummation of the Reorganization, but only to the extent the Purchased Shares are at the time covered by
such right. 
 7.        Lapse. The First Refusal Right
shall lapse upon the earliest to occur of (i) the first date on which shares of the Common Stock are held of record by more than five 

 

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hundred (500) persons, (ii) a determination made by the Board that a public market exists for the outstanding shares of Common Stock or (iii) a firm commitment underwritten public
offering, pursuant to an effective registration statement under the 1933 Act, covering the offer and sale of the Common Stock in the aggregate amount of at least twenty million dollars ($20,000,000). However, the Market Stand-Off shall continue to
remain in full force and effect following the lapse of the First Refusal Right. 

E.        GENERAL PROVISIONS 

1.        Assignment. The Corporation may assign the First Refusal
Right to any person or entity selected by the Board, including (without limitation) one or more stockholders of the Corporation. 

2.        Employment. Nothing in this Agreement or in the Plan
shall confer upon Optionee any right to continue in Service for any period of specific duration or interfere with or otherwise restrict in any way the rights of the Corporation (or any Parent or Subsidiary employing or retaining Optionee) or of
Optionee, which rights are hereby expressly reserved by each, to terminate Optionee’s Service at any time for any reason, with or without cause. 

3.        Notices. Any notice required to be given under this
Agreement shall be in writing and shall be deemed effective upon personal delivery or upon deposit in the post office, registered or certified, postage prepaid and properly addressed to the party entitled to such notice at the address indicated
below such party’s signature line on this Agreement or at such other address as such party may designate by ten (10) days advance written notice under this paragraph to all other parties to this Agreement. 

4.        No Waiver. The failure of the Corporation in any
instance to exercise the First Refusal Right shall not constitute a waiver of any other rights of first refusal that may subsequently arise under the provisions of this Agreement or any other agreement between the Corporation and Optionee. No waiver
of any breach or condition of this Agreement shall be deemed to be a waiver of any other or subsequent breach or condition, whether of like or different nature. 

5.        Cancellation of Shares. If the Corporation shall make
available, at the time and place and in the amount and form provided in this Agreement, the consideration for the Purchased Shares to be purchased in accordance with the provisions of this Agreement, then from and after such time, the person from
whom such shares are to be purchased shall no longer have any rights as a holder of such shares (other than the right to receive payment of such consideration in accordance with this Agreement). Such shares shall be deemed purchased in accordance
with the applicable provisions hereof, and the Corporation shall be deemed the owner and holder of such shares, whether or not the certificates therefor have been delivered as required by this Agreement. 

 

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 F.        MISCELLANEOUS
PROVISIONS 
 1.        Optionee Undertaking.
Optionee hereby agrees to take whatever additional action and execute whatever additional documents the Corporation may deem necessary or advisable in order to carry out or effect one or more of the obligations or restrictions imposed on either
Optionee or the Purchased Shares pursuant to the provisions of this Agreement. 

2.        Agreement is Entire Contract. This Agreement constitutes
the entire contract between the parties hereto with regard to the subject matter hereof. This Agreement is made pursuant to the provisions of the Plan and shall in all respects be construed in conformity with the terms of the Plan. 

3.        Governing Law. This Agreement shall be governed by, and
construed in accordance with, the laws of the State of California, without resort to that State’s conflict of laws rules, as provided in the Plan. For purposes of litigating any dispute that arises directly or indirectly from the relationship
of the parties evidenced by this Agreement, the parties hereby submit to and consent to the exclusive jurisdiction of the State of California and agree that such litigation shall be conducted only in the courts of Alameda County, California, or the
federal courts for the United States for the Northern District of California, and no other courts, where this Agreement is made and/or to be performed. 

4.        Counterparts. This Agreement may be executed in
counterparts, each of which shall be deemed to be an original, but all of which together shall constitute one and the same instrument. 

5.        Successors and Assigns. The provisions of this Agreement
shall inure to the benefit of, and be binding upon, the Corporation and its successors and assigns and upon Optionee, Optionee’s permitted assigns and the legal representatives, heirs and legatees of Optionee’s estate, whether or not any
such person shall have become a party to this Agreement and have agreed in writing to join herein and be bound by the terms hereof. 
  

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 IN WITNESS WHEREOF, the parties have executed this Agreement on the
day and year first indicated above. 
  

			
	 AMYRIS BIOTECHNOLOGIES, INC.

		
	 By:
	 	 
		
	 Name:
	 	 
		
	 Title:
	 	 
		
	 Address:
	 	 
		
		 	 
		
		 	 
	 	 	 «First» «Last», OPTIONEE

		
	 Address:  
	 	 
		
		 	 

  

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 SPOUSAL ACKNOWLEDGMENT 

The undersigned spouse of Optionee has read and hereby approves the foregoing Stock Purchase Agreement. In consideration
of the Corporation’s granting Optionee the right to acquire the Purchased Shares in accordance with the terms of such Agreement, the undersigned hereby agrees to be irrevocably bound by all the terms of such Agreement. 

 

			
		
		 	 
		 	 OPTIONEE’S SPOUSE

		
	 Address:  
	 	 
		
		 	 

 APPENDIX 

The following definitions shall be in effect under the Agreement: 

A.        Agreement shall mean this Stock Purchase Agreement.

 B.        Board shall mean the Corporation’s
Board of Directors. 
 C.        Change in Control shall
mean a change in ownership or control of the Corporation effected through any of the following transactions: 

(i)        a merger, consolidation or other reorganization
approved by the Corporation’s stockholders, unless securities representing more than fifty percent (50%) of the total combined voting power of the voting securities of the successor corporation are immediately thereafter beneficially
owned, directly or indirectly and in substantially the same proportion, by the persons who beneficially owned the Corporation’s outstanding voting securities immediately prior to such transaction, or 

(ii)        a stockholder-approved sale, transfer or other
disposition of all or substantially all of the Corporation’s assets in liquidation or dissolution of the Corporation, or 

(iii)        the acquisition, directly or indirectly by any
person or related group of persons (other than the Corporation or a person that directly or indirectly controls, is controlled by, or is under common control with, the Corporation), of beneficial ownership (within the meaning of Rule 13d-3 of the
1934 Act) of securities possessing more than fifty percent (50%) of the total combined voting power of the Corporation’s outstanding securities pursuant to a tender or exchange offer made directly to the Corporation’s stockholders.

 In no event shall any public offering of the Corporation’s securities be deemed to constitute a Change
in Control. 
 D.        Code shall mean the U.S.
Internal Revenue Code of 1986, as amended. 
 E.        Common
Stock shall mean the Corporation’s common stock. 

F.        Corporation shall mean Amyris Biotechnologies, Inc., a
California corporation, and any successor corporation to all or substantially all of the assets or voting stock of Amyris Biotechnologies, Inc. which shall by appropriate action adopt the Plan. 

G.        Disposition Notice shall have the meaning assigned to
such term in Paragraph D.2. 
 H.        Employer shall
mean Optionee’s employer. 
  

 A-1 

 I.        Exercise
Price shall have the meaning assigned to such term in Paragraph A.1. 

J.        Fair Market Value per share of Common Stock on any
relevant date shall be determined in accordance with the following provisions: 

(i)        If the Common Stock is at the time traded on the Nasdaq National
Market, then the Fair Market Value shall be the closing selling price per share of Common Stock on the date in question, as such price is reported by the National Association of Securities Dealers on the Nasdaq National Market and published in
The Wall Street Journal. If there is no closing selling price for the Common Stock on the date in question, then the Fair Market Value shall be the closing selling price on the last preceding date for which such quotation exists. 

(ii)        If the Common Stock is at the time listed on any Stock Exchange,
then the Fair Market Value shall be the closing selling price per share of Common Stock on the date in question on the Stock Exchange determined by the Plan Administrator to be the primary market for the Common Stock, as such price is officially
quoted in the composite tape of transactions on such exchange and published in The Wall Street Journal. If there is no closing selling price for the Common Stock on the date in question, then the Fair Market Value shall be the closing selling
price on the last preceding date for which such quotation exists. 

(iii)        If the Common Stock is at the time neither listed on any Stock
Exchange nor traded on the Nasdaq National Market, then the Fair Market Value shall be determined by the Plan Administrator after taking into account such factors as the Plan Administrator shall deem appropriate. 

K.        First Refusal Right shall mean the right granted to the
Corporation in accordance with Article E. 
 L.        Grant
Date shall have the meaning assigned to such term in Paragraph A.1. 

M.        Grant Notice shall mean the Notice of Grant of Stock
Option pursuant to which Optionee has been informed of the basic terms of the Option. 

N.        Incentive Option shall mean an option which satisfies
the requirements of Code Section 422. 
 O.        Market
Stand-Off shall mean the market stand-off restriction specified in Paragraph C.3. 

P.        1933 Act shall mean the U.S. Securities Act of 1933, as
amended. 
 Q.        1934 Act shall mean the U.S.
Securities Exchange Act of 1934, as amended. 
  

 A-2 

 R.        Non-Statutory
Option shall mean an option not intended to satisfy the requirements of Code Section 422. 

S.        Option shall have the meaning assigned to such term in
Paragraph A.1. 
 T.        Option Agreement shall mean
all agreements and other documents evidencing the Option. 

U.        Optionee shall mean the person to whom the Option is
granted under the Plan. 
 V.        Owner shall mean
Optionee and all subsequent holders of the Purchased Shares who derive their chain of ownership through a Permitted Transfer from Optionee. 

W.        Parent shall mean any corporation (other than the
Corporation) in an unbroken chain of corporations ending with the Corporation, provided each corporation in the unbroken chain (other than the Corporation) owns, at the time of the determination, stock possessing fifty percent (50%) or more of
the total combined voting power of all classes of stock in one of the other corporations in such chain. 

X.        Permitted Transfer shall mean (i) a gratuitous
transfer of the Purchased Shares, provided and only if Optionee obtains the Corporation’s prior written consent to such transfer, (ii) a transfer of title to the Purchased Shares effected pursuant to Optionee’s will or the laws of
inheritance following Optionee’s death or (iii) a transfer to the Corporation in pledge as security for any purchase-money indebtedness incurred by Optionee in connection with the acquisition of the Purchased Shares. 

Y.        Plan shall mean the Corporation’s 2005 Stock
Option/Stock Issuance Plan. 
 Z.        Plan
Administrator shall mean either the Board or a committee of the Board acting in its capacity as administrator of the Plan. 

AA.        Purchased Shares shall have the meaning assigned to
such term in Paragraph A.1. 

BB.        Recapitalization shall mean any stock split, stock
dividend, recapitalization, combination of shares, exchange of shares or other change affecting the Corporation’s outstanding Common Stock as a class without the Corporation’s receipt of consideration. 

CC.        Reorganization shall mean any of the following
transactions: 
 (i)        a merger or consolidation
in which the Corporation is not the surviving entity, 
  

 A-3 

 (ii)        a sale,
transfer or other disposition of all or substantially all of the Corporation’s assets, 

(iii)        a reverse merger in which the Corporation is the
surviving entity but in which the Corporation’s outstanding voting securities are transferred in whole or in part to a person or persons different from the persons holding those securities immediately prior to the merger, or 

(iv)        any transaction effected primarily to change the
state in which the Corporation is incorporated or to create a holding company structure. 

DD.        SEC shall mean the Securities and Exchange Commission.

 EE.        Service shall mean the Optionee’s
performance of services for the Corporation (or any Parent or Subsidiary, whether now existing or subsequently established) in the capacity of an Employee, a non-employee member of the board of directors or a consultant or independent advisor. For
purposes of this Agreement, Optionee shall be deemed to cease Service immediately upon the occurrence of either of the following events: (i) Optionee no longer performs services in any of the foregoing capacities for the Corporation or any
Parent or Subsidiary or (ii) the entity for which Optionee is performing such services ceases to remain a Parent or Subsidiary of the Corporation, even though the Optionee may subsequently continue to perform services for that entity. Service
shall not be deemed to cease during a period of military leave, sick leave or other personal leave approved by the Corporation. However, except to the extent otherwise required by law or expressly authorized by the Plan Administrator, no Service
credit shall be given for vesting purposes for any period the Optionee is on a leave of absence. 

FF.        Subsidiary shall mean any corporation (other than the
Corporation) in an unbroken chain of corporations beginning with the Corporation, provided each corporation (other than the last corporation) in the unbroken chain owns, at the time of the determination, stock possessing fifty percent (50%) or
more of the total combined voting power of all classes of stock in one of the other corporations in such chain. 

GG.        Target Shares shall have the meaning assigned to such
term in Paragraph D.2. 
 HH.        Tax-Related
Items shall mean any or all income tax, social insurance, payroll tax, payment on account or other tax-related items related to Optionee’s participation in the Plan and legally applicable to Optionee. 

 

 A-4Amendment No. 1 to Rights Agreement

 Exhibit 4.1 

AMENDMENT NO. 1 

TO 

RIGHTS AGREEMENT 

THIS AMENDMENT NO. 1 TO RIGHTS AGREEMENT (the “Amendment”), dated as of April 16, 2010, is between Internet Capital
Group, Inc., a Delaware corporation (the “Company”), and ChaseMellon Shareholder Services, L.L.C., a New Jersey limited liability company, as rights agent (the “Rights Agent”). 

RECITALS 

A. The Company and the Rights Agent are parties to a Rights Agreement, dated as of November 22, 2000 (the
“Agreement”). 
 B. The Company and the Rights Agent desire to amend certain terms and provisions of the
Agreement as set forth in this Amendment. 
 AMENDMENT 

In consideration of the foregoing premises, the mutual covenants and other agreements set forth herein, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto covenant and agree as follows: 

1. Certain Definitions. 

(a) Definition of “Definitive Acquisition Agreement”. The definition of the term “Definitive Acquisition
Agreement” is hereby added as Section 1(j-1) of the Agreement and shall read as follows: 

“Definitive Acquisition Agreement” shall mean an agreement, conditioned on the approval by the holders of
not less than a majority of the outstanding shares of Common Stock, with respect to a merger, recapitalization, share exchange, or a similar transaction involving the Company or the direct or indirect acquisition of more than 50 percent of the
Company’s consolidated total assets. 
 (b) Definition of “Exemption Date”. The definition of the term
“Exemption Date” is hereby added to Section 1(n-1) of the Agreement and shall read as follows: 

“Exemption Date” shall have the meaning set forth in Section 23(b) hereof. 

(c) Definition of “Independent Directors”. The definition of the term “Independent Directors” is hereby added
to Section 1(p-1) of the Agreement and shall read as follows: 
 “Independent Directors”
shall mean members of the Board who are “independent” as defined under applicable law and NASDAQ listing standards (or the listing standards of the principal exchange or trading system on which the Company’s shares of Common Stock are
listed or admitted for trading) in effect from time to time. 

 (d) Definition of “Outside Meeting Date”. The definition of the term
“Outside Meeting Date” is hereby added to Section 1(p-2) of the Agreement and shall read as follows: 

“Outside Meeting Date” shall have the meaning set forth in Section 23(b) hereof. 

(e) Definition of “Qualifying Offer”. The definition of the term “Qualifying Offer” is hereby added to
Section 1(u-1) of the Agreement and shall read as follows: 
 “Qualifying Offer” shall mean
an offer determined by a majority of Independent Directors of the Company to have, to the extent required for the type of offer specified, each of the following characteristics: 

(i) a fully financed all-cash tender offer or an exchange offer offering shares of common stock of the offeror, or a
combination thereof, in each such case for any and all of the outstanding shares of Common Stock at the same per share consideration; provided, however, that such per share price and consideration represent a reasonable premium over
the highest reported market price of the Common Stock in the immediately preceding 18 months, with, in the case of an offer that includes shares of common stock of the offeror, such per share offer price being determined using the lowest reported
market price for common stock of the offeror during the five Trading Days immediately preceding and the five Trading Days immediately following the date on which the Qualifying Offer is commenced; 

(ii) an offer that has commenced within the meaning of Rule 14d-2(a) under the Exchange Act and is made by an offeror
(including Affiliates and/or Associates of such offeror) that beneficially owns no more than 1 percent of the outstanding Common Stock as of the date of such commencement; 

(iii) an offer that, within 20 Business Days after the commencement date of the offer (or within 10 Business Days after
any increase in the offer consideration), does not result in a nationally recognized investment banking firm retained by the Board rendering an opinion to the Board that the consideration being offered to the stockholders of the Company is either
unfair or inadequate; 
 (iv) if the offer includes shares of common stock of the offeror, an offer pursuant to
which (a) the offeror shall permit representatives of the Company, including, but not limited to, a nationally recognized investment banking firm retained by the Board, legal counsel and an accounting firm designated by the Company to have
access to such offeror’s books, records, management, accountants and other appropriate outside advisers for the purposes of permitting such representatives to conduct a due diligence review of the offeror in order to permit such investment
banking firm (relying as appropriate on the advice of such legal counsel) to be able to render an opinion to the Board with respect to whether the consideration being offered to the Company’s stockholders is fair, and (b) within 10
Business Days after such investment banking firm shall have notified the Company and the offeror that it has completed the due diligence review to its satisfaction (or following completion of such due diligence review within 10 Business Days after
any increase in the consideration being offered), such investment banking firm does not render an opinion to the Board that the consideration being offered to the stockholders of the Company is either unfair or inadequate and such investment banking
firm does not after the expiration of such 10 Business Day period render an opinion to the Board that the consideration being offered to the stockholders of the Company has become either unfair or inadequate based on a subsequent disclosure or
discovery of a development or developments that have had or are reasonably likely to have a material adverse affect on the value of the common stock of the offeror; 

 

 2 

 (v) an offer that is subject only to the minimum tender condition described
below in item (viii) of this definition and other customary terms and conditions, which conditions shall not include any financing, funding or similar conditions or any requirements with respect to the offeror or its agents being permitted any
due diligence with respect to the books, records, management, accountants or any other outside advisers of the Company; 

(vi) an offer pursuant to which the Company and its stockholders have received an irrevocable written commitment of the
offeror that the offer will remain open for not less than 120 Business Days and, if a Special Meeting Demand is duly delivered to the Board in accordance with Section 23(b), for at least 10 Business Days after the date of the Special Meeting
or, if no Special Meeting is held within the Special Meeting Period (as defined in Section 23(b)), for at least 10 Business Days following the last day of such Special Meeting Period (the “Qualifying Offer Period”); 

(vii) an offer pursuant to which the Company has received an irrevocable written commitment by the offeror that, in
addition to the minimum time periods specified in item (vi) of this definition, the offer, if it is otherwise to expire prior thereto, will be extended for at least 15 Business Days after (a) any increase in the price offered or
(b) any bona fide alternative offer is commenced by another Person within the meaning of Rule 14d-2(a) of the Exchange Act; provided, however, that such offer need not remain open, as a result of clauses (vi) and
(vii) of this definition, beyond (1) the time which any other offer satisfying the criteria for a Qualifying Offer is then required to be kept open under such clauses (vi) and (vii) or (2) the expiration date, as such date
may be extended by public announcement (with prompt written notice to the Rights Agent) in compliance with Rule 14e-1 of the Exchange Act, of any other tender offer for the Common Stock with respect to which the Board has agreed to redeem the Rights
immediately prior to acceptance for payment of Common Stock thereunder (unless such other offer is terminated prior to its expiration without any Common Stock having been purchased thereunder) or (3) one Business Day after the stockholder vote
with respect to approval of any Definitive Acquisition Agreement has been officially determined and certified by the inspectors of elections; 
  

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 (viii) an offer that is conditioned on a minimum of a majority of the
outstanding shares of the Common Stock being tendered and not withdrawn as of the offer’s expiration date, which condition shall not be waivable; 

(ix) an offer pursuant to which the Company and its stockholders have received an irrevocable written commitment by the
offeror to consummate as promptly as practicable upon successful completion of the offer a second step transaction whereby all shares of the Common Stock not tendered into the offer will be acquired at the same consideration per share actually paid
pursuant to the offer, subject to stockholders’ statutory appraisal rights, if any; 
 (x) an offer pursuant
to which the Company and its stockholders have received an irrevocable written commitment of the offeror that no amendments will be made to the offer to reduce the offer consideration, or otherwise change the terms of the offer in a way that is
materially adverse to a tendering stockholder (other than extensions of the offer consistent with the terms thereof); 

(xi) an offer (other than an offer consisting solely of cash consideration) pursuant to which the Company has received the
written representation and certification of the offeror and, in their individual capacities, the written representations and certifications of the offeror’s Chief Executive Officer and Chief Financial Officer, that (a) all facts about the
offeror that would be material to making an investor’s decision to accept the offer have been fully and accurately disclosed as of the date of the commencement of the offer within the meaning of Rule 14d-2(a) of the Exchange Act, (b) all
such new facts will be fully and accurately disclosed on a prompt basis during the entire period during which the offer remains open, and (c) all required Exchange Act reports will be filed by the offeror in a timely manner during such period;
and 
 (xii) if the offer includes shares of stock of the offeror, (a) the stock portion of the
consideration must consist solely of common stock of an offeror that is a publicly owned corporation, and be freely tradable and is listed on either the New York Stock Exchange or The NASDAQ Stock Market, (b) no stockholder approval of the
offeror is required to issue such common stock, or, if required, has already been obtained, (c) no Person (including such Person’s Affiliates and Associates) beneficially owns more than 20 percent of the voting stock of the offeror at the
time of commencement of the offer or at any time during the term of the offer, and (d) no other class of voting stock of the offeror is outstanding, and the offeror meets the registrant eligibility requirements for use of Form S-3 for
registering securities under the Act, including, but not limited to, the filing of all required Exchange Act reports in a timely manner during the 12 calendar months prior to the date of commencement of the offer. 

 

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 For the purposes of the definition of Qualifying Offer, “fully financed” shall
mean that the offeror has sufficient funds for the offer and related expenses which shall be evidenced by (a) firm, unqualified, written commitments from responsible financial institutions having the necessary financial capacity, accepted by
the offeror, to provide funds for such offer subject only to customary terms and conditions, (b) cash or cash equivalents then available to the offeror, set apart and maintained solely for the purpose of funding the offer with an irrevocable
written commitment being provided by the offeror to the Board to maintain such availability until the offer is consummated or withdrawn, or (c) a combination of the foregoing, which evidence has been provided to the Company prior to, or upon,
commencement of the offer. If an offer becomes a Qualifying Offer in accordance with this definition but subsequently ceases to be a Qualifying Offer as a result of the failure at a later date to continue to satisfy any of the requirements of this
definition, such offer shall cease to be a Qualifying Offer and the provisions of Section 23(b) shall no longer be applicable to such offer. The Company shall promptly notify the Rights Agent in writing upon the occurrence of a Qualifying Offer
and, if such notification is given orally, the Company shall confirm same in writing on or prior to the Business Day next following. Until such notice is received by the Rights Agent, the Rights Agent may presume conclusively for all purposes that a
Qualifying Offer has not occurred. 
 (f) Definition of “Qualifying Offer Period”. The definition of the term
“Qualifying Offer Period” is hereby added to Section 1(u-2) of the Agreement and shall read as follows: 

“Qualifying Offer Period” shall have the meaning set forth in the definition of Qualifying Offer.

 (g) Definition of “Qualifying Offer Resolution”. The definition of the term “Qualifying Offer
Resolution” is hereby added to Section 1(u-3) of the Agreement and shall read as follows: 

“Qualifying Offer Resolution” shall have the meaning set forth in Section 23(b) hereof. 

(h) Definition of “Special Meeting”. The definition of the term “Special Meeting” is hereby added to
Section 1(bb-1) of the Agreement and shall read as follows: 
 “Special Meeting” shall have
the meaning set forth in Section 23(b) hereof. 
 (i) Definition of “Special Meeting Demand”. The
definition of the term “Special Meeting Demand” is hereby added to Section 1(bb-2) of the Agreement and shall read as follows: 

“Special Meeting Demand” shall have the meaning set forth in Section 23(b) hereof. 

 

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 (j) Definition of “Special Meeting Period”. The definition of the term
“Special Meeting Period” is hereby added to Section 1(bb-3) of the Agreement and shall read as follows: 

“Special Meeting Period” shall have the meaning set forth in Section 23(b) hereof. 

(k) Definition of “TIDE Committee”. The definition of the term “TIDE Committee” is hereby added to
Section 1(ff-1) of the Agreement and shall read as follows: 
 “TIDE Committee” shall have
the meaning set forth in Section 28 hereof. 
 2. Amendment of Section 20(b). Section 20(b) of the
Agreement is hereby amended and restated in its entirety as set forth below: 
 (b) Whenever in the performance of its duties
under this Agreement the Rights Agent shall deem it necessary or desirable that any fact or matter (including, but not limited to, the identity of any Acquiring Person, the determination of current market price of any security and the existence of a
Qualifying Offer) be proved or established by the Company prior to taking, suffering or omitting to take any action hereunder, such fact or matter (unless other evidence in respect thereof be herein specifically prescribed) may be deemed to be
conclusively proved and established by a certificate signed by any one of the Chairman of the Board, the President, the Chief Executive Officer, any Vice President, the Treasurer, the Secretary or the Assistant Secretary of the Company and delivered
to the Rights Agent; and such certificate shall constitute full authorization and protection to the Rights Agent for any action taken, suffered or omitted in good faith by it under the provisions of this Agreement in reliance upon such certificate.

 3. Amendment of Section 23. Section 23 of the Agreement is hereby amended and restated in its entirety as
set forth below: 
 Section 23. Redemption and Termination. 

(a) The Company may, at its option, at any time prior to the earlier of (i) the Close of business on the tenth day following the
Stock Acquisition Date (or, if the Stock Acquisition Date shall have occurred prior to the Record Date, the Close of business on the tenth day following the Record Date) and (ii) the Final Expiration Date, redeem all but not less than all of
the then outstanding Rights at a redemption price of $.00001 per Right, as such amount may be appropriately adjusted to reflect any stock split, stock dividend or similar transaction occurring after the date hereof (such redemption price being
hereinafter referred to as the “Redemption Price”). Notwithstanding the foregoing, in the event payment of the Redemption Price to a holder of Rights would result in the payment of an amount not equal to $.01 or an integral multiple
of $.01, the amount to be paid shall be rounded upward to the next $.01. The redemption of the Rights by the Board may be made effective at such time, on such basis and with such conditions as the Board in its sole discretion may establish. If
redemption of the Rights is to be effective as of a future date, the Rights shall continue to be exercisable, subject to Section 11(a)(ii) hereof, until the effective date of the redemption, provided that nothing contained herein shall
preclude the Board from subsequently causing the Rights to be redeemed at a date earlier than the previously scheduled effective date of the redemption. The Company may, at its option, pay the Redemption Price in cash, shares of Common Stock (based
on the Current Market Price (as defined in Section 11(d)(i) hereof for the Trading Day immediately prior to, but not including, the date of such payment) or any other form of consideration deemed appropriate by the Board. 

 

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 (b) In the event the Company receives a Qualifying Offer and the Board has not redeemed the
outstanding Rights or exempted such offer from the terms of this Agreement or called a special meeting of stockholders by the end of the 90th Business Day following the commencement (or, if later, the first existence) of a Qualifying Offer, for the
purpose of voting on whether or not to exempt such Qualifying Offer from the terms of this Agreement, holders of record (or their duly authorized proxy) of at least 10% of the shares of Common Stock then outstanding (excluding shares of Common Stock
beneficially owned by the Person making the Qualifying Offer and such Person’s Affiliates and Associates) may submit to the Board, not earlier than 90 Business Days nor later than 120 Business Days following the commencement (or, if later, the
first existence) of such Qualifying Offer, a written demand complying with the terms of this Section 23(b) (the “Special Meeting Demand”) directing the Board to submit to a vote of stockholders at a special meeting of the
stockholders of the Company (a “Special Meeting”) a resolution exempting such Qualifying Offer from the provisions of this Agreement (the “Qualifying Offer Resolution”). For purposes of a Special Meeting Demand, the
record date for determining holders of record eligible to make a Special Meeting Demand shall be the 90th Business Day following commencement (or, if later, the first existence) of a Qualifying Offer. The Board shall take such actions as are
necessary or desirable to cause the Qualifying Offer Resolution to be so submitted to a vote of stockholders at a Special Meeting to be convened within 90 Business Days following the Special Meeting Demand (the “Special Meeting
Period”); provided, however, that if the Company at any time during the Special Meeting Period and prior to a vote on the Qualifying Offer Resolution enters into a Definitive Acquisition Agreement, the Special Meeting Period
may be extended (and any special meeting called in connection therewith may be cancelled) if the Qualifying Offer Resolution will be separately submitted to a vote at the same meeting as the Definitive Acquisition Agreement. A Special Meeting Demand
must be delivered to the Secretary of the Company at the principal executive offices of the Company and must set forth as to the stockholders of record making the request (x) the names and addresses of such stockholders, as they appear on the
Company’s books and records, (y) the number of shares of Common Stock which are owned of record by each of such stockholders, and (z) in the case of Common Stock that is beneficially owned by another Person, an executed certification
by the holder of record that such holder has executed such Special Meeting Demand only after obtaining instructions to do so from such beneficial owner and attaching evidence thereof. Subject to the requirements of applicable law, the Board may take
a position in favor of or opposed to the adoption of the Qualifying Offer Resolution, or no position with respect to the Qualifying Offer Resolution, as it determines to be appropriate in the exercise of its duties. In the event that no Person has
become an Acquiring Person prior to the redemption date referred to in this Section 23(b), and the Qualifying Offer continues to be a Qualifying Offer and either (i) the Special Meeting is not convened on or prior to the last day of the
Special Meeting Period (the “Outside Meeting Date”), or (ii) if, at the Special Meeting at which a quorum is present, a majority of the shares of Common Stock present or represented by proxy at the Special Meeting and entitled
to vote thereon as of the record date for the Special Meeting selected by the Board shall vote in favor of the Qualifying Offer Resolution, then the Qualifying Offer shall be deemed exempt from the application of this Agreement to such Qualifying
Offer so long as it remains a Qualifying Offer, such exemption to be effective on the Close of business on the tenth Business Day after (i) the Outside Meeting Date or (ii) the date on which the results of the vote on the Qualifying Offer
Resolution at the Special Meeting are certified as official by the appointed inspectors of election for the Special Meeting, as the case may be (the “Exemption Date”). Notwithstanding anything herein to the contrary, no action or
vote by stockholders not in compliance with the provisions of this Section 23(b) shall serve to exempt any offer from the terms of this Agreement. The Company shall promptly notify the Rights Agent in writing upon the occurrence of the
Exemption Date and, if such notification is given orally, the Company shall confirm same in writing on or prior to the Business Day next following. Until such notice is received by the Rights Agent, the Rights Agent may presume conclusively for all
purposes that the Exemption Date has not occurred. 
  

 7 

 (c) Immediately upon the action of the Board authorizing the redemption of the Rights,
written evidence of which shall have been filed with the Rights Agent and without any further action and without any notice, the right to exercise the Rights will terminate and the only right thereafter of the holders of Rights with respect to such
Rights shall be to receive the Redemption Price for each Right so held. Promptly after the action of the Board authorizing the redemption of the Rights, the Company shall give written notice of such redemption to the Rights Agent and the holders of
the then outstanding Rights by mailing such notice to all such holders at each holder’s last address as it appears upon the registry books of the Rights Agent or, prior to the Distribution Date, on the registry books of the transfer agent for
the Common Stock. Any notice which is mailed in the manner herein provided shall be deemed given, whether or not the holder receives the notice. Each such notice of redemption will state the method by which the payment of the Redemption Price will
be made and in the event of any partial exchange, the number of Rights which will be exchanged. Any partial exchange shall be effected pro rata based on the number of Rights (other than Rights which have become void pursuant to the provisions of
Section 7(e) hereof) held by each holder of Rights. 
 (d) Immediately upon the Close of business on the Exemption Date,
without any further action and without any notice, the right to exercise the Rights with respect to the Qualifying Offer will terminate. 

(e) In the event that there shall not be sufficient shares of Common Stock issued but not outstanding, or authorized but unissued, to
permit any exchange of Rights as contemplated in accordance with this Section 23, the Company shall take all such action as may be necessary to authorize additional shares of Common Stock for issuance upon exchange of the Rights or shall take
such other action specified in Section 11(a)(iii) hereof. 
  

 8 

 (f) The Company shall not be required to issue fractions of shares of Common Stock or to
distribute certificates which evidence fractional shares of Common Stock. In lieu of such fractional shares of Common Stock, the Company shall pay to the registered holders of the Right Certificates with regard to which such fractional shares of
Common Stock would otherwise be issuable an amount in cash equal to the same fraction of the current market value of a whole share of Common Stock. For the purposes of this subsection (d), the current market value of a whole share of Common Stock
shall be the closing price of a share of Common Stock (as determined pursuant to the second and third sentences of Section 11(d) hereof) for the Trading Day immediately prior to the date of exchange pursuant to this Section 23. 

4. Amendment of Section 29. Section 29 of the Agreement is hereby amended by inserting two new paragraphs to the end of
Section 29 as follows: 
 Without limiting the generality of the foregoing, it is understood that the Three-Year
Independent Director Evaluation Committee (the “TIDE Committee”) (as described below) of the Board shall review and evaluate this Agreement in order to consider whether the maintenance of this Agreement continues to be in the best
interests of the Company and its stockholders, at least once every three years, or sooner than that if (i) any Person shall have made a proposal to the Company or its stockholders, or taken any other action, that, if effective, could cause such
Person to become an Acquiring Person hereunder, and (ii) a majority of the members of the TIDE Committee shall deem such review and evaluation appropriate after giving due regard to all relevant circumstances. Following each such review, the
TIDE Committee shall communicate its conclusions to the full Board, including any recommendation in light thereof as to whether this Agreement should be modified or the Rights should be redeemed. The TIDE Committee shall be comprised of members of
the Nominating and Corporate Governance Committee who are Independent Directors. 
 The TIDE Committee and the Board, when
considering whether this Agreement should be modified or the Rights should be redeemed, shall have the power to set their own agenda and to retain at the expense of the Company, independent legal, accounting or other professional consultants
selected by the TIDE Committee. The Company shall cause its employees to make themselves available to cooperate with the TIDE Committee for any matters related to its purpose. The TIDE Committee and the Board, when considering whether this Agreement
should be modified or the Rights should be redeemed, shall have the authority to review all information of the Company and to consider any and all factors they deem relevant to an evaluation of whether this Agreement should be modified or the Rights
should be redeemed. 
 5. Amendment. By its execution and delivery hereof, the Company hereby certifies that this
Amendment is made pursuant to and is compliant in all respects with Section 27 of the Agreement and does not change or increase the Right’s Agent’s duties, liabilities, rights or obligations. Except as expressly amended hereby, the
Agreement shall remain in full force and effect. 
  

 9 

 6. Counterparts. This Amendment may be executed in any number of counterparts and
each of such counterparts shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument. 

[The following page is the signature page.] 

 

 10 

 IN WITNESS WHEREOF, the parties have caused this Amendment No. 1 to Rights Agreement to
be executed as of the date first above written. 
  

					
	COMPANY:
	
	INTERNET CAPITAL GROUP, INC.
		
	By:	 	 /s/ Suzanne L. Niemeyer

		 	Name:	 	Suzanne L. Niemeyer
		 	Title:	 	General Counsel
	
	RIGHTS AGENT:
	
	CHASEMELLON SHAREHOLDER SERVICES, L.L.C., as Rights Agent
		
	By:	 	 /s/ Edward Schmitt

		 	Name:	 	Edward Schmitt
		 	Title:	 	Vice President

  

 11

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