Document:

Letter Agreement, dated 5/17/06 (J. R. Malloy, Jr.)

 Exhibit 10.5 
 May 17, 2006 
 Mr. John Malloy 
 4 Rivermeadow
Drive 
 West Newbury, MA 01985 
 Dear John: 
 We are pleased to confirm the compensation agreement between you and Celunol Corp., a Delaware corporation formerly known as BC International Corporation
(the “Company”). In consideration of the covenants and agreements set forth below, the Company hereby employs you, and you hereby agree to be employed by the Company, on the following terms and conditions: 
 1. Term. This Agreement shall become effective as of November 28, 2005 (the “Effective Date”) and shall continue until
November 28, 2007 unless it is earlier terminated by you or the Company in accordance with the provisions of paragraph 5 below (the “Term”). 
 2. Duties and Responsibilities. During the Term of this Agreement, you shall have, and you agree to carry out to the best of your ability, the duties and responsibilities of Executive Vice President - Business
Development. Your responsibilities through December 31, 2006 will include completing the development and project financing for the proposed ethanol plant to be built in Jennings, Louisiana (the “Jennings Project”), building a
project development pipeline of two to three projects for 2007 and 2008 (with the Jennings Project and other projects to be pursued by the Company referred to herein as the “Projects”) and building out the Company’s project
development team and such other responsibilities as are assigned to you from time to time by the Company’s Chief Executive Officer. You agree to devote your full business time, attention and energies to the business and interests of the Company
during the term of your employment with the Company. You warrant that you are free to enter into and fully perform this Agreement and are not subject to any employment, confidentiality, non-competition or other agreement which would restrict your
performance under this Agreement. 
 3. Compensation and Benefits. Subject to your adherence to all of your responsibilities under
this Agreement, during the Term of this Agreement you shall be entitled to receive the following compensation and benefits. 
 (a) Base Salary. Commencing on the Effective Date, and during the Term of this Agreement, Company will pay you a base salary at the monthly rate of $16,666.66 (“Base Salary”), minus withholdings as required by law or
other deductions authorized by you, which amount shall be paid to you in periodic installments in accordance with Company’s payroll practices then in effect. Your Base Salary shall be subject to annual review and adjustment beginning with the
first anniversary of the Effective Date. 

 May 17, 2006 
 Page 2

  

 (b) Incentive Bonus. Subject to paragraph (c) and the availability of
funds to provide for a substantial bonus pool for employees, you will be eligible for an annual performance-based bonus of up to 20% of your Base Salary. Your initial incentive bonus period will be November 28, 2005 through December 31,
2006. The amount of your bonus for any year will be determined by the Board of Directors and paid not later than February 28 of the following year. In determining whether to pay you an incentive bonus with respect to a particular year, one of
the factors the Board of Directors will take into account is whether you are also getting a bonus for the applicable year pursuant to the Transaction Bonus Pool described below. 
 (c) Transaction Bonus. You will be entitled to participate in a transaction
bonus pool to be created by the Company with respect to the Projects (the “Transaction Bonus Pool”). The Company expects that the Transaction Bonus Pool will be in an amount between  1/2 of 1% and 1% of the total project cost for the Projects. Creation of this Transaction Bonus Pool and the amount and terms of the Transaction Bonus Pool is
subject to obtaining all consents of lenders, equity providers and other project participants for the Projects. The portion of the Transaction Bonus Pool payable with respect to any year will be distributed in the first quarter of the subsequent
year as part of the Company’s incentive compensation payments. 
 (d) Benefits. During the term of this
Agreement, you shall be entitled to participate, to the extent you are otherwise eligible, in all group insurance programs or other fringe benefit plans which Company shall make available to similarly situated employees. The Company may alter,
modify, add to or delete its employee benefit plans at any time as it, in its sole judgment, determines to be appropriate, without recourse by you. 
 (e) Vacation. You will be entitled to four (4) weeks of vacation per year, in accordance with the Company’s vacation policy as in effect from time to time. 
 (f) Stock Options. The Company will grant you stock options to acquire shares of the Company’s common stock at an exercise
price equal to fair market value as of the date of grant (as determined by the Board of Directors or its Compensation Committee). The total size of the grant will be 1.5% of the Company’s outstanding common stock on a fully-diluted basis, after
giving effect to the dilution related to the anticipated $13.6 million financing scheduled for March or April 2006. These stock options will vest in quarterly installments over four (4) years, with vesting commencing as of the Effective Date,
will be in the form of incentive stock options to the extent permissible under the Company’s 2006 Equity Incentive Plan and applicable law and will otherwise be subject to the terms of the Company’s 2006 Equity Incentive Plan, a copy of
which is attached hereto as Exhibit A. 

 May 17, 2006 
 Page 3

  

 4. Restrictive Covenants. You hereby agree to enter into the Employee Invention,
Non-Competition and Confidentiality Agreement in the form attached hereto as Exhibit B (the “Employee Invention Agreement”), the terms of which are incorporated into this Agreement. 
 5. Termination. You and Company shall be free to terminate this Agreement as follows: 
 (a) By The Company For Cause. Company shall have the right to terminate your employment hereunder at any time for “Cause”
upon thirty (30) days’ prior written notice. For purposes of this Agreement only, “Cause” shall be defined to include (1) material misconduct in the performance of your duties and responsibilities hereunder, (2) your
material failure, refusal or inability (other than for reasons of disability) to perform your duties and responsibilities hereunder or to carry out any proper direction of the Chief Executive Officer or Board of Directors, (3) breach by you of
a material term of this Agreement or the Employee Invention Agreement, or any other agreement between you and the Company and (4) conviction of or plea of nolo contendere, to, a felony or other crime involving moral turpitude, or
imprisonment for any crime; provided, however, that in the event of a potential termination for Causes 1, 2 or 3 above, such termination may not occur until at least fifteen (15) days after Company has provided you with a detailed
written notice of the ground(s) for the termination, and then only if you have failed to correct the behavior giving rise to, such potential termination. Notwithstanding any other provision of this Agreement, in the event of a termination for Cause
pursuant to this paragraph, Company shall only be obligated to pay you your Base Salary through the date of your termination, together with such other benefits and payments to which you may be entitled by law or pursuant to the benefit plans of the
Company then in effect. 
 (b) Disability. Company shall have the right to terminate your employment hereunder in the
event that you shall be prevented, by illness, accident, disability or any other physical or mental condition (to be determined by means of a written opinion of a competent medical doctor chosen by mutual agreement of Company and you or your
personal representative), from substantially performing your duties and responsibilities hereunder for one or more periods totaling sixty (60) days in any twelve (12) month period. In the event of a termination of your employment pursuant
to this paragraph, your right to receive income continuation shall be determined in accordance with the terms and conditions of Company’s short-term and long-term disability plans then in effect. 
 (c) Death. In the event of a termination of your employment hereunder by reason by your death, your estate or legal representative
shall be entitled to receive your Base Salary through the date of your death, together with such death benefits as may be provided by the Company’s benefit plans then in effect. 
 (d) Termination By Company Other Than For Cause, Disability or Death. Company shall have the right to terminate your employment
hereunder at any time other 

 May 17, 2006 
 Page 4

  

 
than for Cause, disability or death upon thirty (30) days’ prior written notice to you. In the event of a termination by Company pursuant to this
paragraph, you shall be entitled to receive severance pay in the amount of your Base Salary for a period of three (3) months after your termination date, minus required withholdings, which severance payments will be made to you on the
Company’s normal payroll cycle; provided, however, that (i) your right to receive such severance pay shall be contingent upon (x) your compliance with all of your obligations under this Agreement, including those set
forth in paragraph 6 below, and the Employee Invention Agreement, and (y) your execution of a general release of all claims against Company and its affiliates in form satisfactory to Company; and (ii) in the event of any termination
by the Company pursuant to this paragraph (d) prior to November 30, 2006 you will be entitled to severance pay for the period from the date of such termination until February 28, 2007. 
 (e) Termination By You For Good Reason. In the event that you resign your employment with Company at any time, by providing to
Company a written notice of resignation within thirty (30) days following an event constituting “Good Reason,” as that phrase is defined below, your resignation shall be deemed to be a termination of your employment by Company other
than for Cause pursuant to paragraph 5(d) above, in which event both you and Company shall have your respective rights and obligations in the event of such a termination. In the event that you do not send Company a written notice of resignation
pursuant to this paragraph within thirty (30) days following an event constituting Good Reason, your rights under this paragraph 5(e) shall cease. For purposes of this Agreement, the phrase “Good Reason” shall mean any of the
following actions by the Company: (i) your demotion to a non-executive position, or (ii) material reduction of your ability to participate in the Company’s fringe and benefit plans, other than any reduction that is part of a general
reduction or other concessionary arrangement affecting all senior officers, or (iii) transferring you to a new location outside of the Boston metropolitan area (which for purposes of this Agreement means any location more than 50 miles from
Boston). 
 (f) Termination By You For Any Other Reason. You shall have the right to terminate your employment
hereunder at any time after November 30, 2006 for any reason not otherwise covered by paragraph 5(e) by providing thirty (30) days’ prior written notice to Company. In the event of a termination by you pursuant to the preceding
sentence, Company shall only be obligated to pay you your Base Salary through the date of your termination together with such other benefits and payments to which you may be entitled by law or pursuant to the benefit plans of the Company then in
effect. 
 6. Nondisparagement Covenant. You agree that you will not at any time speak or act in any manner that is intended to, or
does in fact, damage the goodwill or the business of Company or its affiliates, or the business or personal reputations of any of its directors, officers, agents, employees, clients or suppliers, and you further agree that you will not engage in any
other deprecating conduct or communications with respect to Company or its affiliates. You 

 May 17, 2006 
 Page 5

  

 
further agree that you will refrain from publicly or privately making any statement concerning Company or its affiliates or their officers, directors,
employees, agents, clients or suppliers, or Company’s business methods of operation or methods of doing business, which is in way negative or unflattering or which could reasonably be expected to subject them to any public disrespect, scorn or
ridicule, or legal or regulatory action. The provisions of this Section 6 are not intended to prohibit any legally required disclosure provided that such disclosure is accurate and the Company is given reasonable prior notice of such
requirement and a reasonable opportunity to contest or minimize such disclosure. 
 7. Specific Performance. You recognize and agree
that Company’s remedy at law for breach of paragraph 6 of this Agreement or the Employee Invention Agreement would be inadequate, and further agree that, for breach of such provisions, Company shall be entitled to injunctive relief and to
enforce its rights by an action for specific performance. 
 8. Continuation of Employment. You understand, acknowledge and agree that
this Agreement does not create an obligation for the Company or any other person to continue your employment and, subject to your right to receive compensation and benefits as provided in paragraph 5, you will be an at-will employee and the
Company may terminate your employment at any time. 
 9. Choice of Law. This Agreement, and all disputes arising under or related to
it, shall be governed by the law of the Commonwealth of Massachusetts. 
 10. Arbitration. All disputes arising out of this Agreement
(other than claims for injunctive relief and any claims under the Employee Invention Agreement) shall be resolved by final and binding arbitration. The arbitration shall be conducted in Boston, Massachusetts under the American Arbitration
Association’s rules for commercial disputes employing a single arbitrator. The arbitrator shall not be empowered to award punitive damages. 
 11. Assignment. This Agreement, and the rights and obligations of you and the Company hereunder, shall inure to the benefit of and shall be binding upon, you, your heirs and representatives, and upon the Company, its successors and
assigns. This Agreement may not be assigned by you. 

 May 17, 2006 
 Page 6

  

 12. Notices. All notices required by this shall be in writing and shall be deemed to have been
duly delivered when delivered in person or when mailed by certified mail, return receipt requested, as follows: 
  

	 	A.	If to you: 

 John Malloy 
 4 Rivermeadow Drive 
 West Newbury, MA 01985

  

	 	B.	If to Company: 

 Celunol Corp. 
 980 Washington Street 
 Suite 122

 Dedham, MA 02026 
 Attn:
Chief Executive Officer 
 or to such other address as a party hereto shall specify in writing given in accordance with this section. 
 13. Severability. In the event that any one or more of the provisions of this Agreement shall be held to be invalid, illegal or unenforceable, the
validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. Moreover, if any one or more of the provisions contained in this Agreement shall be held to be excessively broad as to duration,
activity or subject, such provision shall be construed by limiting or reducing them so as to be enforceable to the maximum extent compatible with applicable law. 
 14. Consultation with Counsel; No Representations. You agree and acknowledge that you have had a full and complete opportunity to consult with counsel of your own choosing concerning the terms, enforceability
and implications of this Agreement. Both you and the Company acknowledge that neither party has made any representations or warranties to the other party concerning the terms, enforceability or implications of this Agreement other than as are
reflected in this Agreement. 

 May 17, 2006 
 Page 7

  

 If the foregoing correctly conforms to your understanding of the agreement between you and Company,
please sign and date the enclosed copy of this letter and return it to us. 
  

			
	Very truly yours,
	
	CELUNOL CORP.
		
	By	 	/s/ Michael Dennis
		 	Michael Dennis
		 	President

  

			
	Agreement Confirmed:
	
	 /s/ John Malloy

	JOHN MALLOY
		
	 Exhibit A:
	  	2006 Equity Incentive Plan
	 Exhibit B:
	  	 Employee Invention, Non-Competition
 and
Confidentiality AgreementEmployee Invention, Non-Competition and Confidentiality Agrmnt (C. A. Riva)

 Exhibit 10.6 
 CELUNOL CORP. 
 EMPLOYEE INVENTION, NON-COMPETITION 
 AND CONFIDENTIALITY AGREEMENT 
 THIS
AGREEMENT (the “Agreement”), made effective the date set forth below, is entered into by Celunol Corp., a Delaware corporation formerly known as BC International Corporation with its principal place of business at 980 Washington
Street, Suite 122, Dedham, MA 02026 (the “Company”), and the person signing below as employee (the “Employee”). 
 The Company and the Employee are entering into a letter agreement dated as of June 30, 2006 (the “Employment Agreement”) pursuant to which the Company has agreed to employ the Employee on the terms and conditions set
forth therein. Pursuant to the Employment Agreement, the Employee has agreed to enter into this Agreement. In consideration of such employment and the mutual covenants and promises contained herein, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged by the parties hereto, the parties agree as follows: 
  

	1.	Loyalty/Non-Compete. 

  

	 	1.1	 Except as expressly permitted in Section 2 of the Employment Agreement, the Employee agrees to devote his full business time, attention and energies to the
business and interests of the Company during the term of his employment with the Company. In addition, except as expressly permitted in Section 2 of the Employment Agreement, the Employee shall not, for a period of six (6) months after any
termination of employment by the Employee or the Company for any reason, directly or indirectly, alone or as a partner, member, officer, director, consultant, employee or stockholder (except a less than 2% stockholder of a public company) or other
owner of a beneficial interest in any company or business organization, engage or own an interest in, manage, control, participate in or consult with, render services for, be employed in an executive, managerial or administrative capacity by, or in
any manner engage in any business that is engaged in the production or sale, or the construction, development or marketing of any project that relates to the production or sale, of cellulosic biomass-derived ethanol, or any other products, other
than ethanol produced from grain or other non-cellulosic biomass sources, that at the time of Employee’s termination of employment, (i) are being manufactured or sold by the Company or any subsidiary or affiliate of the Company controlled
by the Company (collectively, the “Celunol Companies”) or any licensee of the Celunol Companies pursuant to a license from any of the Celunol Companies or (ii) the Celunol Companies are pursuing the development of as part of
their business development efforts. Such limitations shall apply only within the continental United States, and in such foreign jurisdictions where, as of the date of the Employee’s termination of employment, either (i) there is a
distributor or other representative of any Celunol Company (or distributor/representative negotiations have been initiated) or (ii) patent applications have been filed on behalf of any of the Celunol Companies. The activities prohibited by this
Section 1.1 are collectively referred to herein as “Competing Activities”. Notwithstanding the foregoing, a “Competing Activity” will not include working for a business that has a number 

	 	 
of divisions or business units, including one engaged in a Competing Activity; provided that the Employee does not work for, or provide any
Proprietary Information (as defined below) to, any such division or business unit that is engaged in a Competing Activity. 

  

	 	1.2	During the term of the Employment Agreement and during any subsequent period of employment by any Celunol Company and for a period of twelve months after the later of any
termination of the Employment Agreement and any termination of employment with the Celunol Companies, the Employee agrees that he will not directly or indirectly, either for himself or for any other person, business, partnership, association, firm,
company or corporation, call upon, solicit, divert or take away or attempt to solicit, divert or take away, any of the exclusive suppliers, exclusive licensees, exclusive licensors, customers, business or prospective customers of any Celunol
Company. The Employee also agrees that during the term of the Employment Agreement and during any subsequent period of employment by any Celunol Company and for a period of twelve months after the later of any termination of the Employment Agreement
and any termination of employment with the Celunol Companies, he will not solicit or discuss with any employee of any Celunol Company or any person who has been an employee of a Celunol Company within the six month period preceding the
Employee’s termination of employment (a “Company Employee”) the employment of such Company Employee by any business, firm, company, partnership, association, corporation, person or any other entity other than any Celunol
Company. 

  

	 	1.3	If any restriction set forth in this Section 1 is found by any court of competent jurisdiction to be unenforceable because it extends for too long a period of time or over too
great a range of activities or in too broad a geographic area, it shall be interpreted to extend only over the maximum period of time, range of activities or geographic area as to which it may be enforceable. 

 The restrictions contained in this Section 1 are necessary for the protection of the business and goodwill of the Celunol Companies and are
considered by the Employee to be reasonable for such purpose. The Employee agrees that any breach or threatened breach of this Section 1 will cause the Company substantial and irrevocable damage and therefore, in the event of any such breach or
threatened breach, in addition to such other remedies which may be available, the Company shall be entitled to seek specific performance and/or injunctive relief or other equitable relief form a court of competent jurisdiction in order to enforce or
prevent any violations of the provisions hereof (without posting a bond or other security). 
  

	2.	Nondisclosure. 

  

	 	2.1	The Employee agrees that he will not at any time, whether during or after the termination of employment, reveal to any person, entity, association or company any Proprietary
Information (as defined below) of the Celunol Companies, except as may be required in the ordinary course of performing duties as an employee of a Celunol Company (and then with due regard for continued confidentiality) or as may be required by law,
and he shall keep secret all matters of such nature entrusted to him and shall not use or attempt to use any such information in any manner for his own benefit or the benefit of others, or as may injure or cause loss or damage to any of the Celunol
Companies. 

  

 2 

	 	2.2	The Employee further agrees that during his employment he shall not make, use, or permit to be used any notes, memoranda, drawings, specifications, techniques, data or other
materials relating to any matter within the scope of the business of any of the Celunol Companies or concerning any of its dealings or affairs otherwise than for the benefit of any of the Celunol Companies. 

  

	 	2.3	The Employee further agrees: 

  

	 	i.	that he shall not, after the termination of his employment, use or permit to be used any such notes, memoranda, drawings, specifications, techniques, data or other materials or
tangible property, it being agreed that any of the foregoing shall be and remain the sole and exclusive property of the applicable Celunol Company and that immediately upon termination of his employment he shall deliver all of the foregoing, and all
copies thereof, to such Celunol Company; provided that the foregoing will not apply to any information that is publicly available through no fault of Employee, but this proviso is not intended to grant the Employee any license or other
independent right to use such information; 

  

	 	ii.	that all files, letters, memoranda, reports, records, data, sketches, drawings, laboratory notebooks, computer disks or other storage devices for information, any computer program
listings, spreadsheets or other files, or other written, photographic, or other tangible or intangible material containing Proprietary Information, whether created by Employee or others, which shall come into Employee’s custody or possession,
shall be and are the exclusive property of the applicable Celunol Company to be used only in the performance of Employee’s duties for such Celunol Company; 

  

	 	iii.	that all such information and materials developed by Employee in the course of his employment shall be the property of the applicable Celunol Company; 

  

	 	iv.	that all such records or copies thereof and all tangible property of the applicable Celunol Company in Employee’s custody or possession shall be delivered to the Company, upon
the earlier of a request by such Celunol Company or any termination of employment; and 

  

	 	v.	that after such delivery, Employee shall not retain any such records or copies thereof or any such tangible property, and Employee agrees to deliver to the applicable Celunol
Company and/or destroy any Proprietary Information that may be in his possession but stored on media (such as computer disks) that themselves are not property of such Celunol Company. 

 Employee agrees that this obligation not to disclose or to use information and records of the types set forth above (including know-how), and his
obligation to return records, copies and tangible property set forth in paragraph (iv) above, also 

  

 3 

 
extends to such know-how and other information, records, copies and tangible property of customers of the Celunol Companies or suppliers to the Celunol
Companies or other third parties who may have disclosed or entrusted the same to the Celunol Companies or to Employee in the course of the Celunol Companies’ business. 
  

	 	2.4	“Proprietary Information” of any of the Celunol Companies shall mean the inventions (whether patentable or not patentable and whether or not reduced to practice),
know-how, ideas, innovations, information, observations, and data including trade secrets obtained by Employee while employed by any of the Celunol Companies concerning the business and affairs of any of the Celunol Companies, which is maintained as
confidential by the Company and is not generally known in the industry or otherwise available to the general public (other than as a result of a breach of this Agreement by the Employee), including without limitation, any document, data, software,
technique or other information possessed or used by any Celunol Company, including, without limiting the foregoing, trade secrets, processes, techniques, software, code, algorithms, marketing plans, unpublished financial statements or projections,
budgets, sales records, licenses, prices, costs, and information as to existing and prospective customers, employees and suppliers. 

  

	3.	Assignment of Inventions. The Employee agrees as follows: 

  

	 	3.1	To disclose to the Company all discoveries, concepts, innovations, improvements, developments, methods, designs, analyses, drawings, reports, patent applications, copyrightable work
and mask work (whether or not including any Proprietary Information), inventions, patentable or unpatentable ideas, and all technical or business innovations developed, conceived, prepared or created by him solely or in combination with others
during the period of his employment (“Inventions”); 

  

	 	3.2	To assign, and Employee hereby does assign, to the Company, as its exclusive property, all Inventions (i) that are in any way within the scope of or related to the business of
any Celunol Company, or as to which the Employee may receive information due to his employment, or (ii) that result from or are suggested by any work which the Employee may do for the Company, or (iii) that otherwise are made through the
use of any Celunol Company time, facilities or materials; 

  

	 	3.3	That any such Invention so required to be assigned shall be considered a work made for hire for the Company as such term is defined in Section 101 of the United State Copyright
Act of 1976, as amended; 

  

	 	3.4	To execute all necessary or desirable, in the Company’s opinion, documents and otherwise provide proper assistance during and subsequent to his employment to enable the Company
to obtain, secure, maintain and/or enforce for itself or its nominees, copyrights, patents or other legal protection for such Inventions, with all out-of-pocket expenses in connection with the foregoing to be borne by the Company;

  

 4 

	 	3.5	To make and maintain for the Company adequate and current written records of all such Inventions or innovations, which records shall at all times remain on any Celunol
Company’s premises. 

  

	 	3.6	Employee hereby represents that, except as he has disclosed in writing to the Company, he is not bound by the terms of any agreement with any previous employer or other party to
refrain from using or disclosing any trade secret or Confidential or Proprietary Information in the course of his employment with the Company, or to refrain from competing, directly or indirectly, with the business of any such previous employer or
any other party. Employee further represents that his performance of all the terms of this Agreement and as an employee of the Company does not and will not breach any agreement to keep in confidence Proprietary Information, knowledge or data
acquired by him in confidence or in trust prior to his employment with the Company; and Employee will not disclose to the Company or induce the Company to use any Confidential or Proprietary Information or material belonging to any previous employer
or others. 

  

	4.	Remedies upon Breach. The Employee agrees that any breach of the provisions of Sections 1, 2 or 3 of this Agreement by him could cause irreparable damage, and that in the
event of such breach, the Company shall have, in addition to any and all remedies of law, the right to file a motion requesting an injunction, specific performance or other equitable relief to prevent the violation of the Employee’s obligations
hereunder from a court of competent jurisdiction in order to enforce or prevent any violations of the provisions hereof (without posting a bond or other security). 

  

	5.	No Employment Obligation. The Employee understands, acknowledges and agrees that this Agreement does not create an obligation on the Company or any other person to continue
his employment. Any such obligation is governed solely by the Employment Agreement. 

  

	6.	Acknowledgments. The Employee hereby acknowledges and recognizes that the enforcement of any of the provisions in this Agreement may potentially interfere with his ability to
pursue a proper livelihood in any business activity prohibited by the terms of the Agreement. The Employee recognizes and agrees that the enforcement of this Agreement is necessary to ensure the preservation, protection and continuity of the
business, trade secrets and goodwill of the Company. The Employee agrees that, due to the importance of proprietary information to the Company’s business, the restrictions set forth in this Agreement are reasonable as to time and scope.

  

	7.	Amendment. This Agreement may be amended or modified only by a written instrument executed by both the Company and Employee. 

  

	8.	Governing Law, Jurisdiction, Remedies. This Agreement shall be construed, interpreted and enforced in accordance with the laws of the Commonwealth of Massachusetts, without
giving effect to any choice of law or conflict of law rules or provisions (whether of the Commonwealth of Massachusetts or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the Commonwealth of
Massachusetts. Any action, suit or other proceeding pursuant to, arising under, or touching or concerning this Agreement or the transactions contemplated hereby shall be brought in any court of competent jurisdiction in Suffolk County, Commonwealth
of Massachusetts. The parties agree to take any and all necessary or appropriate action to submit to the jurisdiction and venue of any such court. The parties hereby waive their rights to a jury trial with respect to any action arising in connection
with this Agreement. 

  

 5 

	9.	Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of both parties and their respective successors and assigns, including any entity with
which or into which the Company may be merged or which may succeed to its assets or business, provided, however, that the obligations of the Employee are personal and shall not be assigned by him/her. 

  

	10.	Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the
same instrument. In making proof of this Agreement, it shall not be necessary to produce or account for more than one such counterpart. 

  

	11.	Miscellaneous. 

  

	 	11.1	No delay or omission by the Company in exercising any right under this Agreement shall operate as a waiver of that or any other right. A waiver or consent given by the Company on
any one occasion shall be effective only in that instance and shall not be construed as a bar or waiver of any right on any other occasion. 

  

	 	11.2	The captions of the sections of the Agreement are for convenience of reference only and in no way define, limit or affect the scope or substance of any section of this Agreement.

  

	 	11.3	In case any provision of this Agreement shall be invalid, illegal or otherwise unenforceable, the validity, legality and enforceability of the remaining provisions shall in no way
be affected or impaired thereby. 

  

 6 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the 1st day of July, 2006. 
  

									
	EMPLOYEE	 		 	CELUNOL CORP.	 	
					
	 /s/ Carlos Riva
	 		 	By:	 	 /s/ Joshua Ruch
	 	
	Carlos Riva	 		 		 	Joshua Ruch	 	
		 		 		 	Director	 	

 Employee’s Address: 
 Carlos Riva 
 P.O. Box 137 
 Hamilton, MA 01936

  

 7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00119-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00119-of-00352.parquet"}]]