Company: DVAX
Filing Date: 2025-04-17
Form Type: DEFC14A
Source: 0000930413-25-001273
Chunk: 38

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-04-17
Form: DEFC14A
Chunk 38
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 that would interfere with the exercise of
independent judgment in carrying out the responsibilities of a director. In addition, applicable Nasdaq rules require that, subject
to specified exceptions, each member of our audit, compensation and nominating committees be independent. Audit committee members
must also satisfy the independence criteria set forth in Rule 10A-3 under the Exchange Act.

Our Board has undertaken a review of the independence of each director and considered whether any director
has a material relationship that could compromise such director’s ability to exercise independent judgment in carrying out
such director’s responsibilities. Based upon the information requested from and provided by each director concerning such
director’s background, employment and affiliations, including family relationships, the Board determined that each of Ms.
Eastland, Mr. Myers, Ms. Phillips, Ms. Silvernail, Ms. Sun and Mr. MacGregor, as well as Drs. Cano, Emini, Kisner and Paradiso
are “independent directors” as defined under current rules and regulations of the SEC and the listing standards of
Nasdaq. In making this determination, our Board considered the current and prior relationships and transactions that each non-employee
director has had with the Company and other facts and circumstances that the Board considered relevant, including transactions
involving directors described in “Certain Transactions- Related Persons Transactions and Indemnification.”

We also considered Dr. Paradiso’s relationship to CEPI, as a member of its Scientific Advisory Group,
in light of the transaction entered into between the Company and CEPI in January 2021, pursuant to which CEPI provided the Company,
among other things, financing to manufacture our CpG 1018 adjuvant in the form of a forgivable loan that we can and have drawn
upon, and that CEPI partners will be able to buy CpG 1018 adjuvant from us under certain prescribed terms as set forth in that
same agreement. We also considered a consulting agreement Dr. Paradiso entered into with the Company in January 2023 and amended
in February 2025, pursuant to which Dr. Paradiso may receive $500 per hour for certain advisory services related to our research
and development programs and the scientific evaluation of opportunities, as well as $250 per hour for associated travel time.
In 2024, Dr. Paradiso’s aggregate compensation pursuant to this consulting agreement was $14,750, and we do not expect his
aggregate compensation under this consulting agreement to vary significantly during