Company: DVAX
Filing Date: 2025-04-17
Form Type: DEFC14A
Source: 0000930413-25-001273
Chunk: 88

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-04-17
Form: DEFC14A
Chunk 88
---
 the execution of a release of claims, be entitled to receive:

| • | a lump-sum cash payment equal to the specified number of months (18 months for Mr. Spencer, 15 months for Mr. Novack and   
 12 months for our other NEOs) of the executive’s then-effective annual base salary;                                        |
| • | the COBRA Payment;                                                                                                         |
| • | a lump-sum cash payment equal to the NEO’s target annual variable cash compensation for the year of termination, pro-rated 
 as of the date of termination;                                                                                             |

| 73 |

| • | the acceleration of vesting of time-vesting stock options to purchase the Company’s common stock for a specified number              
 of months (18 months for Mr. Spencer, 15 months for Mr. Novack and 12 months for our other NEOs) following termination of employment 
 (but in any event not beyond each option’s expiration date); and                                                                     |
| • | the extension of exercisability of all stock options to purchase the Company’s common stock for a period of one year following       
 termination of employment (but in any event not beyond each option’s expiration date).                                               |

The table below outlines the potential payments and benefits payable
to each NEO, in the event of such NEO’s involuntary termination not in connection with a change in control assuming such event had
occurred on December 31, 2024.

| Name                 |     | Severance 
 Payment   |           |     | Continuation 
 of Benefits  |        |     | Value        
 of           
 Accelerated  
 Stock Awards |         |     | Total |           |
|:---------------------|:----|:----------|----------:|:----|:-------------|-------:|:----|:-------------|--------:|:----|:------|----------:|
| Ryan Spencer         |     | $         | 1,878,751 |     | $            | 35,877 |     | $            | 236,523 |     | $     | 2,151,151 |
| Kelly MacDonald      |     | $         |   783,000 |     | $            | 24,252 |     | $            | 180,892 |     | $     |   988,144 |
| David F. Novack      |     | $         | 1,097,250 |     | $            | 44,351 |     | $            | 124,051 |