Company: DVAX
Filing Date: 2025-04-15
Form Type: PRER14A
Source: 0000930413-25-001254
Chunk: 85

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-04-15
Form: PRER14A
Chunk 85
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ing is determined by multiplying the number of shares of stock by the market value of the underlying 
 shares as reported by the Nasdaq Stock Market LLC on the vesting date.                                                         |

<div align='center'>PENSION BENEFITS</div>

The Company does not sponsor any pension or qualified or non-qualified
defined benefit retirement plan.

<div align='center'>NON-QUALIFIED DEFERRED COMPENSATION</div>

The Company does not maintain any non-qualified defined contribution
plan or other non-qualified deferred compensation plan.

<div align='center'>POTENTIAL PAYMENTS UPON CHANGE IN CONTROL OR INVOLUNTARY TERMINATION</div>

Summary of Change in Control and Involuntary Termination Arrangements.

To promote retention of certain key executives, our Board has authorized
the Company to enter into Management Continuity and Separation Agreements with each NEO. We refer to such agreements in effect
as of December 31, 2024 as the “Management Agreements.” In order to be eligible to receive benefits under the
Management Agreements, our NEOs and other officers must execute a general waiver and release of claims, and such release must become
effective in accordance with its terms.

| 71 |

Certain Transactions without Termination.

Pursuant to the 2018 Equity Incentive Plan, in the event that there
had been a corporate transaction or change in control (each as defined in the 2018 Equity Incentive Plan) on December 31, 2024, and
if the surviving or acquiring corporation had elected not to assume, continue or substitute for equity awards that were outstanding under
the 2018 Equity Incentive Plan, 2011 Equity Incentive Plan, 2021 Inducement Award Plan and 2017 Inducement Award Plan held by each of
our current service providers, including our NEOs, the vesting of such awards would accelerate in full. The table below outlines the potential
payments and benefits payable to each NEO in this event, assuming such event had occurred on December 31, 2024.

| Name                 |     | Transaction          
 Where                
 Award is Not         
 Assumed, Continued   
 or Substituted Value 
 of Accelerated Stock 
 Awards(1)            |           |
|:---------------------|:----|:---------------------|----------:|
| Ryan Spencer         |     | $                    | 5,014,704 |
| Kelly MacDonald      |     | $                    | 1,