Company: DVAX
Filing Date: 2025-04-03
Form Type: PREC14A
Source: 0000930413-25-001153
Chunk: 89

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-04-03
Form: PREC14A
Chunk 89
---
 other NEOs) for the year of termination;     |
| • | cash payments equal to the value of the applicable COBRA premiums for up to the same number of months as the NEO receives in   
 base salary as set forth in the first bullet, paid either monthly on employee’s behalf or to employee in a single lump sum     
 (the “COBRA Payment”);                                                                                                         |
| • | full acceleration of vesting of all outstanding equity awards at the time of such termination; 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).                                         |

| 71 |

In addition, if any payments or benefits would constitute a “parachute
payment” within the meaning of Section 280G of the Code and such payments would be subject to the excise tax imposed by Section
4999 of the Code, then such payments will either be (1) provided to the NEO in full or (2) reduced to such lesser amount that would result
in no portion of such payments being subject to the excise tax, whichever amount after taking into account all applicable taxes, including
the excise tax, would result in the NEO’s receipt, on an after-tax basis, of the greatest amount of such payments.

For purposes of the Management Agreements, “cause” generally
means (1) gross negligence or willful misconduct in the performance of duties to the Company, where such gross negligence or willful misconduct
has resulted or is likely to result in substantial and material damage to the Company or its subsidiaries; (2) repeated unexplained or
unjustified absence from the Company; (3) a material and willful violation of any federal or state law; (4) commission of any act of fraud
with respect to the Company; or (5) conviction of a felony or a crime involving moral turpitude causing material harm to the standing
and reputation of the Company, in each case as determined in good faith by the Board.

For purposes of the Management
Agreements, “good reason” generally means the NEO’s voluntary termination following (1) a material
reduction or change in job duties, responsibilities, and requirements inconsistent with the NEO’s position with the
Company and his or her prior duties, responsibilities, and requirements, or a material change in the level of management to
which the NEO reports; (2