EXHIBIT 10.1
 
TARGETED GENETICS CORPORATION
SECOND AMENDMENT TO RIGHTS AGREEMENT
 
This Second Amendment to Rights Agreement (this “Amendment”) is made as of
September 25, 2002 by and between Targeted Genetics Corporation, a Washington
corporation (the “Company”), and Mellon Investor Services LLC, a New Jersey
limited liability company, formerly known as ChaseMellon Shareholder Services
L.L.C., as rights agent (the “Rights Agent”).
 
RECITALS
 
WHEREAS, the Company and the Rights Agent are parties to the Rights Agreement
dated as of October 16, 1996, as amended by the First Amendment of Rights
Agreement dated as of July 21, 1999 (the “Rights Agreement”). Any capitalized
terms not specifically defined in this Amendment shall have the meanings given
those terms in the Rights Agreement.
 
WHEREAS, the Company wishes to amend the Rights Agreement as provided herein.
 
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, the parties hereto agree as follows:
 
1.    Section 1 of the Rights Agreement is hereby amended to insert the
following sentence at the end of the definition of “Acquiring Person” under the
Rights Agreement:
 
“In addition, neither Biogen, Inc. (“Biogen”) nor any Affiliate or Associate of
Biogen shall be included in the definition of “Acquiring Person” for any purpose
of this Agreement unless and until Biogen, either alone or together with all
Affiliates and Associates of Biogen, becomes the Beneficial Owner of 20% or more
of the Common Stock then outstanding.”
 
2.    Each party represents and warrants to the other party that it has full
power and authority to execute and deliver this Amendment and to perform the
transactions contemplated hereunder.
 
3.    The terms and provisions of the Rights Agreement, as amended hereby, shall
remain in full force and effect. All references to the “Rights Agreement”
contained therein shall mean the Rights Agreement, as amended by this Amendment.
 
4.    This Amendment may be executed in one or more counterparts, all of which
shall be considered one and the same agreement.
 
[Signature Page Follows]

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IN WITNESS WHEREOF, each of the parties hereto have caused this Amendment to be
duly executed as of the date first written above.
 
TARGETED GENETICS CORPORATION
 
By:
 
/s/    Todd E. Simpson        

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Name:
Title:
 
Todd E. Simpson
Vice President, Chief Financial Officer and Secretary

 
 
 
MELLON INVESTOR SERVICES LLC
 
By:
 
/s/    Thomas L. Cooper        

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Name:
Title:
 
Thomas L. Cooper
Assistant Vice President

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