Document:

Exhibit 4.01

 

 

THIRD AMENDMENT TO 1.5% SENIOR CONVERTIBLE NOTE (RS-10)

 

This Third Amendment to 1.5% Senior Convertible
Note (RS-10) (this “Amendment”) is made and entered into as of March 30, 2018, by and between Amyris, Inc.,
a Delaware corporation (the “Company”) and Total Raffinage Chimie S.A., as assignee of Total Energies Nouvelles
Activités USA (the “Investor”).

 

RECITALS

 

WHEREAS, on March 21, 2016 the Company
issued to the Investor a 1.5% Senior Convertible Note (RS-10) in the principal amount of $3,700,000, as amended by (i) that First
Amendment to 1.5% Senior Convertible Note (RS-10) dated February 27, 2017 and (ii) that Second Amendment to 1.5% Senior Convertible
Note (RS-10) dated May 12, 2017 (as amended, the “Note”).

 

WHEREAS, the Company and the Investor
desire to further amend the Note as set forth herein.

 

WHEREAS, pursuant to Section 7 of the
Note, the Note may be amended with the written consent of the Company and the Investor.

 

NOW, THEREFORE, for good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereby agree as follows:

 

		1.	Amendment of Section 2(a) of the Note. Section 2(a) of the Note is hereby deleted
in its entirety and replaced with the following:

 

(a)Interest. This Note
shall bear interest (i) from the Issue Date to May 15, 2017 on the Face Amount at a rate per annum equal to 1.50% (subject to Section
4(k)) and (ii) from May 16, 2017 to the Final Maturity Date on the Face Amount at a rate per annum equal to 12.00% (subject to
Section 4(k)). Interest on this Note shall accrue daily and be due and payable in arrears on (i) December 31, 2017, (ii) March
31, 2018 and (iii) the Final Maturity Date, and at such other times as may be specified herein. All computations of interest shall
be made on the basis of a 360-day year and actual days elapsed (which results in more interest being paid than if computed on the
basis of a 365-day year). Notwithstanding the foregoing, if an Event of Default shall have occurred and be continuing this Note
shall bear interest on the Face Amount at a rate per annum equal to 13.50% (as may be further adjusted pursuant to Section 4(k)).

 

		2.	Amendment of Section 2(b) of the Note. Section 2(b) of the Note is hereby deleted
in its entirety and replaced with the following:

 

(b)Scheduled Payment of Principal.
Unless paid, converted or cancelled and extinguished earlier in accordance with the terms hereof, the Company shall deliver to
the Investor cash in the amount of the Face Amount, together with all accrued and unpaid interest on this Note, on May 31, 2018
(the “Final Maturity Date”) and this Note shall be retired and canceled.

 

     

     

    

		3.	Full Force and Effect. Except as expressly modified by this Amendment, the terms
of the Note shall remain in full force and effect.

 

 

		4.	Integration. This Amendment and the Note constitute the entire agreement and understanding
of the parties with respect to the subject matter hereof, and supersede all prior understandings and agreements, whether oral or
written, between or among the parties hereto with respect to the specific subject matter hereof.

 

 

		5.	Counterparts; Facsimile. This Amendment may be executed in one (1) or more counterparts,
each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. This Amendment
may be executed and delivered by facsimile, or by email in portable document format (.pdf), and delivery of any signature page
by such method will be deemed to have the same effect as if the original signature had been delivered to the other party.

 

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

 

 

 

 

 

 

 

 

     

     

    

IN WITNESS WHEREOF, the parties hereto have executed this
Amendment as of the date first above written

 

 

AMYRIS, INC.

 

By: /s/ John Melo                    

 

Name: John Melo

 

Title: President and Chief Executive Officer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

[Signature Page to Third Amendment to R&D Note]

 

     

     

    

IN WITNESS WHEREOF, the parties hereto have executed this
Amendment as of the date first above written

 

 

TOTAL RAFFINAGE CHIMIE S.A.

 

By: /s/ Nathalie Brunette                           

 

Name: Nathalie Brunette

 

Title: General Secretary / Deputy CEO

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

[Signature Page to Third Amendment to R&D Note]Exhibit 4.02

 

 

 

SEVENTH AMENDMENT TO LOAN AND SECURITY AGREEMENT 

 

This SEVENTH AMENDMENT TO LOAN AND SECURITY
AGREEMENT (this “Amendment”), dated as of March 30, 2018, is among AMYRIS, INC., a Delaware corporation (the
“Parent”), and each of its Subsidiaries that has delivered a Joinder Agreement (as defined herein) (each a “Subsidiary
Guarantor” and collectively, the “Subsidiary Guarantors” and together with Parent, collectively, “Borrower”),
the several banks and other financial institutions or entities from time to time parties to this Agreement (collectively, referred
to as “Lender”) and STEGODON CORPORATION, a Delaware corporation, as successor-in-interest to Hercules Technology
Growth Capital, Inc., a Maryland corporation, in its capacity as administrative agent for itself and the Lender (in such capacity,
the “Agent”).

 

RECITALS

 

A.        WHEREAS,
Parent, Subsidiary Guarantors, Lender and Agent have previously entered into that certain Loan and Security Agreement, dated as
of March 29, 2014, as previously amended on June 12, 2014, March 31, 2015, October 12, 2015, November 30, 2015, May 9, 2016, June
24, 2016, June 29, 2016, July 18, 2016, October 5, 2016, October 6, 2016, October 27, 2016, November 29, 2016, December 5, 2016,
December 14, 2016, December 17, 2016, December 30, 2016, January 10, 2017, April 13, 2017, November 13, 2017, and December 28,
2017 (as further amended from time to time, the “Loan Agreement”), pursuant to which, among other things, Lender
has provided certain term loans and other financial accommodations to Borrower. Capitalized terms used but not defined herein shall
have the meanings assigned to them in the Loan Agreement;

 

B.        WHEREAS,
Borrower desires to amend the Loan Agreement by extending the date for a principal payment in the amount of $5,500,000 due under
the terms of the Loan Agreement from March 31, 2018 to May 31, 2018; and

 

C.        WHEREAS,
Agent and the Lenders are willing to so amend the Loan Agreement as more specifically set forth herein, subject to the terms and
conditions contained herein.

 

NOW, THEREFORE, for good and valuable consideration
(the receipt and sufficiency of which are hereby acknowledged), in reliance upon the representations and warranties made in support
thereof and contained herein, the parties hereto agree as follows:

 

1.                 
Defined Terms. Each capitalized term used but not otherwise defined herein has the meaning ascribed thereto in the Loan Agreement.

 

2.                 
Amendments to Loan and Security Agreement. Subject to the satisfaction of the conditions precedent set forth in Section 3 of
this Amendment and effective as of the Seventh Amendment Effective Date (notwithstanding the date of execution of this Amendment),
the Loan Agreement is hereby amended as follows:

 

(a)        Section
1.1 (Definitions). The Loan Agreement is hereby amended by deleting the definitions of Closing Date Term Loan Interest Rate, Additional
Term Loan Interest Rate, and Third Amendment Term Loan Interest Rate in their entirety and inserting in lieu thereof the following:

 

““Additional Term
Loan Interest Rate” means for any day a per annum rate of interest equal to the greater of either (i) the prime rate as reported
in

 

     

     

    

the Wall Street Journal plus 5.25% and (ii) 8.5%.
In addition, for the period of time commencing on April 1, 2018 and continuing through and including the 2018 Principal Payment
Date, 5.0% shall be added to the rate determined by the preceding sentence.”

 

““Closing Date Term
Loan Interest Rate” means for any day a per annum rate of interest equal to the greater of either (i) the prime rate as reported
in the Wall Street Journal plus 6.25% and (ii) 9.5%. In addition, for the period of time commencing on April 1, 2018 and
continuing through and including the 2018 Principal Payment Date, 5.0% shall be added to the rate determined by the preceding sentence.”

 

““Third Amendment Term
Loan Interest Rate” means for any day a per annum rate of interest equal to the greater of either (i) the prime rate as reported
in the Wall Street Journal plus 6.25% and (ii) 9.5%. In addition, for the period of time commencing on April 1, 2018 and
continuing through and including the 2018 Principal Payment Date, 5.0% shall be added to the rate determined by the preceding sentence.”

 

(b)        Section
1.1 (Definitions). The Loan Agreement is hereby amended by inserting the following definition to appear alphabetically in Section
1.1 thereof:

 

““2018 Principal Payment
Date” is defined in Section 2.2(d)(ii)(y).”

 

(c)        Section
2.2(d) (Payments). The Loan Agreement is hereby amended by amending Section 2.2(d)(ii)(y) in its entirety and replacing it with
the following:

 

“(y) on or prior to May
31, 2018, a principal payment of $5,500,000, which payment shall be applied to the principal amount of Secured Obligations then
outstanding. The date on which such payment is received by Agent shall be the “2018 Principal Payment Date”.”

 

3.        Conditions
to Effectiveness. The provisions of this Amendment shall become effective on the date, which date (if ever) shall be on or
prior to April 2, 2018, that all of the following conditions precedent have been satisfied (the “Seventh Amendment Effective
Date”):

 

(a)        Agent
shall have received a pdf copy of this Amendment, duly executed and delivered by Parent and the Subsidiary Guarantor;

 

(b)        Each
of the representations and warranties of Borrower in Section 4 of this Amendment shall be true, correct and accurate in all material
respects as of the Seventh Amendment Effective Date;

 

(c)        No
Material Adverse Effect has occurred;

 

(d)        Agent
shall have received either (i) a secretary’s certificate certifying as to the Borrower’s charter documents, authorizations
and incumbency matters in form and substance satisfactory to Agent, or (ii) a confirmation satisfactory to Agent in its sole discretion
that the Borrower’s charter documents, authorizations and incumbency have not changed since previously delivered to Agent;

 

    	 	-2-	 

     

    

(e)        No
Event of Default exists under the Loan Agreement or any Loan Document;

 

(f)        Borrower
shall have paid to Agent’s counsel all legal fees and out-of-pocket expenses incurred in connection with this Amendment;
and

 

(g)        All
legal matters incident to the execution and delivery of this Amendment shall be satisfactory to Agent and its counsel.

 

4.        Representations,
Warranties and Agreements. Borrower hereby represents, warrants and agrees in favor of Agent and Lender as follows:

 

(a)        No
Event of Default has occurred and is continuing (or would result from the amendment of the Loan Agreement contemplated hereby);

 

(b)        The
execution, delivery and performance by Borrower of this Amendment has been duly authorized by all necessary corporate and/or other
action and do not and will not require any registration with, consent or approval of, notice to or action by, any Person in order
to be effective and enforceable. Each of the Loan Agreement and the other Loan Documents to which Borrower is a party constitutes
and continues to constitute the legally, valid and binding obligation of Borrower, in each case enforceable against Borrower in
accordance with its terms;

 

(c)        All
of the representations and warranties of Borrower contained in the Loan Agreement and the other Loan Documents are true and correct
in all material respects on and as of the date hereof and will be true and correct on the Seventh Amendment Effective Date (except
to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true
and correct as of such earlier date);

 

(d)        No
Material Adverse Effect has occurred;

 

(e)        Borrower
is entering into this Amendment on the basis of such Person’s own business judgment, without reliance upon Agent or Lender;
and

 

(f)        Borrower
acknowledges and agrees that the execution and delivery by Agent and Lender of this Amendment shall not be deemed to create a course
of dealing or otherwise obligate Agent or Lender to execute similar agreements under the same or similar circumstances in the future.
Neither Agent nor Lender has any obligation to Borrower or any other Person to further amend provisions of the Loan Agreement or
the other Loan Documents. Other than as specifically contemplated hereby, all of the terms, covenants and provisions of the Loan
Agreement (and the other Loan Documents) are and shall remain in full force and effect.

 

5.        General
Provisions.

 

(a)        Upon
the effectiveness of this Amendment, all references in the Loan Agreement and in the other Loan Documents to the Loan Agreement
shall refer to the Loan Agreement as modified hereby. This Amendment shall be deemed incorporated into, and a part of, the Loan
Agreement. This Amendment is a Related Document. THIS AMENDMENT IS EXPRESSLY SUBJECT TO THE PROVISIONS OF SECTION 

 

    	 	-3-	 

     

    

11.8        (GOVERNING
LAW), SECTION 11.9 (CONSENT TO JURISDICTION AND VENUE) AND SECTION 11.10 (MUTUAL WAIVER OF JURY TRIAL; JUDICIAL REFERENCE)
OF THE LOAN AGREEMENT, WHICH PROVISIONS ARE INCORPORATED HEREIN AND MADE APPLICABLE HERETO BY THIS REFERENCE.

 

(b)        This
Amendment is made pursuant to Section 11.3(b) and 11.7 of the Loan Agreement and shall be binding upon and inure
to the benefit of the parties hereto and thereto and their respective successors and assigns. No third party beneficiaries are
intended in connection with this Amendment.

 

(c)        This
Amendment may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute
an original, but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a
signature page of this Amendment by telecopy shall be effective as delivery of a manually executed counterpart of this Amendment.

 

(d)        Each
provision of this Amendment shall be severable from every other provision of this Amendment for the purpose of determining the
legal enforceability of any specific provision.

 

(e)        Borrower
shall promptly pay to Agent’s counsel all attorneys’ fees and expenses incurred in connection with the preparation,
negotiation and closing of this Amendment.

 

(f)        The
appearing parties herein declare that all the terms and conditions of the Loan Agreement continue to remain, as herein amended,
in full force and effect and by these presents the appearing parties hereby ratify, reaffirm and confirm all the terms and conditions
of the Loan Agreement and further declare that it is their express intention that the transactions set forth in this Amendment
shall in no way, manner or form be construed or be interpreted as an extinctive novation of any of the obligations and agreements
set forth in the Loan Agreement.

 

[Document continues with signature pages.]

 

    	 	-4-	 

     

    

IN WITNESS WHEREOF, the parties hereto have
caused this Seventh Amendment to Loan and Security Agreement to be duly executed and delivered as of the date first written above.

 

	 	AMYRIS, INC.
	 	
         

        By:
	
         

        /s/ Kathleen Valiasek

	 	Print Name:	Kathleen Valiasek
	 	Title:	Chief Financial Officer
	 	 
	 	 
	 	AMYRIS, FUELS, LLC
	 	
         

        By:
	
         

        /s/ Kathleen Valiasek

	 	Print Name:	Kathleen Valiasek
	 	Title:	Chief Financial Officer
	 	 
	 	
        AGENT:

         

	 	STEGODON CORPORATION
	 	
         

        Signature:
	
         

        /s/ Austin Che

	 	Print Name:	Austin Che
	 	Title:	President
	 	 
	 	
        LENDER

         

	 	STEGODON CORPORATION
	 	
         

        Signature
	
         

        /s/ Austin Che

	 	Print Name:	Austin Che
	 	Title:	President

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