Document:

EX-10.78

 Exhibit 10.78 
 DYNAVAX TECHNOLOGIES CORPORATION 
 April 2, 2013 

Mr. Eddie Gray 
 [Personal ADDRESS]

 Via email: [Personal EMAIL] 
  

	Re:	Executive Employment Terms 

 Dear Eddie:

 On behalf of the Board of Directors (the “Board”) of Dynavax Technologies Corporation (the “Company”), I am
pleased to offer you employment at the Company on the terms set forth in this offer letter agreement (the “Agreement”). Your employment shall commence on or before June 1, 2013. 

Employment and Board Positions and Duties 

You will be employed as Chief Executive Officer (“CEO”), and you will report to the Board. You will have those duties and
responsibilities as customary for a CEO and as may be directed by the Board. You will be based in, and work from, the Company’s corporate headquarters in Berkeley, California, and your position will entail business travel. On or promptly after
the commencement of your employment, the Company will use its best efforts to appoint you as a member of the Board during your service as CEO. In the event of the termination of your employment for any reason (whether at your request or the
Company’s request), or your removal from the position of CEO, you agree to promptly resign as a member of the Board, effective no later than such termination or removal date. During your employment with the Company, you will devote your
full-time best efforts to the business of the Company. 
 Base Salary and Employee Benefits 

Your base salary will be paid at the initial rate of $41,666.67 per month (an annual rate of $500,000), less standard payroll deductions and tax
withholdings. You will be paid your base salary on a semi-monthly basis, on the Company’s normal payroll schedule. As an exempt salaried employee, you will be required to work the Company’s normal business hours, and such additional time
as appropriate for your work assignments and positions. You will not be eligible for extra payment under the overtime laws. 
 As a regular
full-time employee, you will be eligible to participate in the Company’s standard employee benefits (pursuant to the terms and conditions of the benefit plans and applicable policies), including but not limited to: medical insurance, paid
holidays, life insurance, disability insurance, long-term care insurance, Flexible Spending Account, 401(k) plan, and Employee Stock Purchase Plan. As a member of the Company’s executive team, you will not accrue vacation or paid time off,
although you will be eligible to take paid time off under the Company’s Personal Time-Off Policy. 
 The Board will review your base salary
for potential modification on an annual basis, provided that, the Board may not decrease your base salary except proportionately in connection with an across-the-board decrease of base salaries applicable to all senior executives of the
Company. 
 Annual Discretionary Incentive Bonus 
 In this position, you will be eligible to earn an annual incentive bonus at the target amount of sixty percent (60%) of your base salary, as determined within the discretion of the Board. The
incentive bonus will be based upon performance with respect to both corporate and individual milestones to be determined within the discretion of the Board. Following the close of each calendar year, the Board will determine whether you have earned
an incentive bonus, and the amount of any incentive bonus. Generally, incentive bonuses are paid in the first quarter of the following year. You must be an employee in good standing on the bonus payment date to be eligible to receive a

 Mr. Eddie Gray 
 April 2, 2013 
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bonus. Incentive bonuses are not guaranteed, with the exception that, with respect to the 2013 incentive bonus (to be paid in the first quarter of 2014), you will receive a 2013 incentive bonus
payment calculated at the target amount and prorated for the period of your actual employment in 2013, if you remain an employee in good standing on the 2013 bonus payment date. 
 Relocation Bonus 
 You will receive a one-time cash bonus in the amount of $200,000 (the
“Relocation Bonus”), subject to required payroll deductions and tax withholdings, to be paid on the first regular payroll date following your commencement of employment. As discussed, the Relocation Bonus is intended to be used for
your costs incurred in connection with your relocation to the San Francisco Bay Area, including but not limited to moving expenses, flights, temporary housing, shipment of goods, legal fees, and tax advice. The Relocation Bonus is the only form of
relocation assistance that the Company will provide you, regardless of whether your total costs exceed the amount of the Relocation Bonus, and you will not be eligible for any additional payments for reimbursement of expenses, tax assistance or
equalization, or the like. In addition, if you voluntarily terminate your employment prior to the one-year anniversary of your start date, you are required to repay the full amount of the Relocation Bonus to the Company, to be paid within thirty
(30) days after your resignation date. 
 Stock Options 
 The Company shall grant you stock options under the Company’s 2011 Equity Incentive Plan (the “Equity Plan”) as follows: (a) an initial stock option grant to purchase 1,500,000
shares of the Company’s Common Stock (the “Hire Option”) on or promptly following your hire date; and (b) a second stock option grant to purchase 750,000 shares of the Company’s Common Stock (the “Second
Option”) shall be made on the date of the first Board meeting of 2014 (provided that you continue in the position of CEO through such time). You will also be eligible for consideration by the Board of an additional “merit” stock
option grant based upon your performance in 2013 (the “Merit Option”), provided that you remain employed through the date that annual merit grants are routinely considered by the Board. 

If granted, the exercise prices for the Hire Option, Second Option, and Merit Option, will be set at the fair market value of the
Common Stock as in effect on the date of each such grant, and each such Option will be subject to a four-year vesting period conditioned upon your “Continuous Service” (as defined in the Equity Plan), with twenty-five percent (25%) of
the shares subject to each Option vesting on the one year anniversary of the applicable vesting commencement date, and one-forty-eighth (1/48th) of the shares subject to each Option vesting thereafter for each month of your Continuous Service. Your Options
will be governed by the terms and conditions of the Equity Plan and your individual Option agreements. 
 In addition to the four-year vesting
schedules discussed above, the Options will be subject to accelerated vesting under certain circumstances as provided in the Management Continuity and Severance Agreement between you and the Company (as provided further below). 

Compliance With Proprietary Information Agreement and Company Policies 
 As a condition of employment, you must sign and comply with the Company’s standard form of Employee Proprietary Information and Inventions Agreement (the “Proprietary Information
Agreement”), enclosed with this letter. In addition, you will be expected to abide by the Company’s policies and procedures, as they may be modified from time to time within the Company’s discretion, and acknowledge in writing
that you have read and will comply with the Company’s Employee Handbook (and provide additional such acknowledgements as the Handbook may be modified from time to time). 

 Mr. Eddie Gray 
 April 2, 2013 
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 Protection of
Third Party Information 
 In your work for the Company, you will be expected not to make any unauthorized use or disclosure of any
confidential information or materials, including trade secrets, of any former employer or other third party; and not to violate any lawful agreement that you may have with any third party. By signing this letter, you represent that you are able to
perform your job duties within these guidelines, and you are not in unauthorized possession or control of any confidential documents, information, or other property of any former employer. In addition, you represent that you have disclosed to the
Company in writing any agreement you may have with any third party (e.g., a former employer) which may limit your ability to perform your duties to the Company or which could present a conflict of interest with the Company. 

Outside Activities 
 Throughout
your employment with the Company, you may engage in civic and not-for-profit activities so long as such activities do not interfere with the performance of your duties hereunder or present a conflict of interest with the Company. Subject to the
restrictions set forth herein, and with prior written disclosure to and consent of the Board, you may serve as a director of other corporations and may devote a reasonable amount of your time to other types of business or public activities
(including charitable activities) not expressly mentioned in this paragraph. The Board may rescind such consent, if the Board determines, in its sole discretion, that such activities compromise or threaten to compromise the Company’s business
interests or conflict with your duties to the Company. 
 During your employment by the Company, you will not, without the express
written consent of the Board, directly or indirectly serve as an officer, director, stockholder, employee, partner, proprietor, investor, joint venturer, associate, representative or consultant of any person or entity engaged in, or planning or
preparing to engage in, business activity competitive with any line of business engaged in (or planned to be engaged in) by the Company; provided, however, that you may purchase or otherwise acquire up to (but not more than) one percent (1%) of
any class of securities of any enterprise (but without participating in the activities of such enterprise) if such securities are listed on any national or regional securities exchange. 
 At-Will Employment Relationship 
 Your employment relationship with the Company is at-will.
Accordingly, you may terminate your employment with the Company at any time and for any reason whatsoever simply by notifying the Company; and the Company may terminate your employment at any time with or without cause or prior notice. 

Severance Benefits 
 You will be eligible
for certain severance benefits in connection with the termination of your employment under certain circumstances, as set forth in the Management Continuity and Severance Agreement enclosed with this letter. 

Dispute Resolution 
 To ensure the rapid
and economical resolution of disputes that may arise under or relate to this Agreement or your employment relationship, you and the Company agree that any and all disputes, claims, or causes of action, in law or equity, arising from or relating to
the performance, enforcement, execution, or interpretation of this Agreement, your employment or the termination of your employment (collectively, “Claims”), shall be resolved to the fullest

 Mr. Eddie Gray 
 April 2, 2013 
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extent permitted by law, by final, binding, and (to the extent permitted by law) confidential arbitration conducted by JAMS, Inc. (“JAMS”) before a single arbitrator in San
Francisco, California in accordance with the JAMS Employment Arbitration Rules and Procedures (which are available for review at http://www.jamsadr.com/rules-employment-arbitration/). Claims subject to this arbitration provision shall
include, but not be limited to: Claims pursuant to any federal, state or local law or statute, including (without limitation) the Age Discrimination in Employment Act, as amended; Title VII of the Civil Rights Act of 1964, as amended; the Americans
With Disabilities Act of 1990; the federal Fair Labor Standards Act; the California Fair Employment and Housing Act; and Claims in contract, tort, or common law, including (without limitation) Claims for breach of contract or other promise,
discrimination, harassment, retaliation, wrongful discharge, fraud, misrepresentation, defamation and/or emotional distress; provided, however, that this provision shall exclude Claims that by law are not subject to arbitration. The arbitrator
shall: (a) have the authority to compel adequate discovery for the resolution of all Claims and to award such relief as would otherwise be permitted by law; and (b) issue a written arbitration decision including the arbitrator’s
essential findings and conclusions and a statement of the award. The Company shall pay all JAMS fees in excess of the amount of filing and other court-related fees you would have been required to pay if the Claims were asserted in a court of law.
You and the Company acknowledge that, by agreeing to this arbitration procedure, both you and the Company waive the right to resolve any Claims through a trial by jury or judge or by administrative proceeding. Nothing in this Agreement shall
prevent either you or the Company from obtaining injunctive relief in court to prevent irreparable harm pending the conclusion of any such arbitration. Any awards or orders in such arbitrations may be entered and enforced as judgments in the federal
and state courts of any competent jurisdiction. 
 Miscellaneous 
 As required by federal law, this offer is contingent upon satisfactory proof of your identity and right to work in the United States. As discussed, the Company anticipates that you will be able to obtain
authorization to work in the United States pursuant to an O-Visa, and your employment shall commence at a mutually agreeable time reasonably promptly after the O-Visa (or other work authorization) is obtained. This Agreement, together with your
Proprietary Information Agreement and Management Continuity and Severance Agreement, forms the complete and exclusive statement of your employment agreement with the Company. It supersedes any other agreements or promises made to you by anyone,
whether oral or written. Changes in your employment terms, other than those changes expressly reserved to the Board’s discretion in this Agreement, require a written modification approved by the Board and signed by you and a duly authorized
member of the Board. This Agreement is governed by the laws of the state of California, without reference to conflicts of law principles. If any provision of this Agreement shall be held invalid or unenforceable in any respect, such invalidity or
unenforceability shall not affect the other provisions of this Agreement, and such provision will be reformed, construed and enforced so as to render it valid and enforceable consistent with the general intent of the parties insofar as possible
under applicable law. With respect to the enforcement of this Agreement, no waiver of any right hereunder shall be effective unless it is in writing. Any ambiguity in this Agreement shall not be construed against either party as the drafter. This
Agreement may be executed in counterparts which shall be deemed to be part of one original, and facsimile signatures and signatures transmitted by PDF file, shall be equivalent to original signatures. 

To accept employment at the Company under the terms described above, please sign and date this letter and return it to me no later than April 30,
2013. If it is not accepted by that date, our offer of employment will expire. Please let me know if you have any questions about the terms set forth in this letter. 
 We are delighted to be making this offer. The Board looks forward to your favorable reply and to a productive and enjoyable work relationship. 

 Mr. Eddie Gray 
 April 2, 2013 
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 Sincerely,

  

	
	 /s/ Daniel Kisner M.D.

	Daniel Kisner, M.D.
	Member, Board of Directors

 Reviewed, Understood, and Accepted: 

 

					
	
/s/ Eddie Gray                
                                         
         
	  	 	  	April 3, 2013
	Eddie Gray	  	Date	  	

 Mr. Eddie Gray 
 April 2, 2013 
  Page
 6
 
  

DYNAVAX TECHNOLOGIES CORPORATION 
 EMPLOYEE PROPRIETARY INFORMATION 
 AND INVENTIONS AGREEMENT

 In consideration of my employment or continued employment by DYNAVAX TECHNOLOGIES
CORPORATION (the “Company”), and the compensation now and hereafter paid to me for such services, I hereby agree as follows: 

 

 NONDISCLOSURE 

1.1 Recognition of the Company’s Rights; Nondisclosure. At all times during my employment and thereafter, I will hold in
strictest confidence and will not disclose, use, lecture upon, or publish any of the Company’s Proprietary Information (defined below), except as such disclosure, use, or publication may be required in connection with my work for the Company,
or unless an officer of the Company expressly authorizes such in writing. I will obtain the Company’s written approval before publishing or submitting for publication any material (written, verbal, or otherwise) that relates to my work at
Company and/or incorporates any Proprietary Information. I hereby assign to the Company any rights I may have or acquire in such Proprietary Information and recognize that all Proprietary Information shall be the sole property of the Company
and its assigns. 
 1.2 Proprietary Information. The term “Proprietary Information” shall mean any and
all confidential and/or proprietary knowledge, data, or information of the Company. By way of illustration but not limitation, “Proprietary Information” includes tangible and intangible information relating to antibodies and other
biological materials, cell lines, samples of assay components, media, and/or cell lines, and procedures and formulations for producing any such assay components, media, and/or cell lines, formulations, products, processes, know-how, designs,
formulas, methods, developmental or experimental work, clinical data, improvements, discoveries, plans for research, development, new products, marketing and selling, business plans, budgets and unpublished financial statements, licenses, prices and
costs, suppliers and customers, and information regarding the skills and

 
compensation of other employees of or consultants to the Company. Notwithstanding the foregoing, it is understood that at all such times I am free to use information which is generally known in
the trade or industry, which is not gained as result of a breach of this Agreement, and my own skill, knowledge, know-how, and experience to whatever extent and in whichever way I wish. 

1.3 Third-party Information. I understand, in addition, that the Company has received and in the future will receive from third
parties confidential or proprietary information (“Third-party Information”) subject to a duty on the Company’s part to maintain the confidentiality of such information and to use it only for certain limited purposes. During the
term of my employment and thereafter, I will hold Third-party Information in the strictest confidence and will not disclose to anyone (other than Company personnel who need to know such information in connection with their work for the Company) or
use, except in connection with my work for the Company, Third-party Information unless expressly authorized by an officer of the Company in writing. 
 1.4 No Improper Use of Information of Current or Prior Employers and Others. During my employment by the Company I will not improperly use or disclose any confidential information or trade secrets,
if any, of any current or former employer or any other person to whom I have an obligation of confidentiality, and I will not bring onto the premises of the Company any unpublished documents or any property belonging to any current or former
employer or any other person to whom I have an obligation of confidentiality unless consented to in writing by that current or former employer or other person. I will use in the performance of my duties only information which is generally known and
used by persons with 

 

 Mr. Eddie Gray 
 April 2, 2013 
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 training and experience comparable to my own, which is common knowledge in the industry or otherwise
legally in the public domain, or which is otherwise provided or developed by the Company. 
  

	2.	ASSIGNMENT OF INVENTIONS. 

 2.1 Inventions. The term “Inventions” means any and all discoveries, concepts, and ideas, whether patentable or not, including, but not limited to, processes, methods, formulas,
compositions, techniques, articles, and machines, as well as improvements thereof or know-how related thereto or relating to Company’s business, including actual or anticipated research and development of Company. 

2.2 Proprietary Rights. The term “Proprietary Rights” shall mean all trade secret, patent, copyright, and other
intellectual property rights throughout the world. 
 2.3 Prior Inventions. Inventions, if any, patented or unpatented,
which I made prior to the commencement of my employment by the Company are excluded from the scope of this Agreement. To preclude any possible uncertainty, I have set forth on Exhibit A (Previous Inventions) attached hereto a complete list of
all Inventions that I have, alone or jointly with others, conceived, developed, or reduced to practice or caused to be conceived, developed, or reduced to practice prior to the commencement of my employment with the Company, that I consider to be my
property or the property of third parties and that I wish to have excluded from the scope of this Agreement (collectively referred to as “Prior Inventions”). If disclosure of any such Prior Invention would cause me to violate any
prior confidentiality agreement, I understand that I am not to list such Prior Inventions in Exhibit A but am only to disclose a cursory name for each such invention, a listing of the party(ies) to whom it belongs, and the fact that full
disclosure as to such inventions has not been made for that reason. A space is provided on Exhibit A for such purpose. If no such disclosure is attached, I represent that there are no Prior Inventions. If, in the course of my employment with
the Company, I incorporate a Prior Invention into a Company product, process, or machine, the Company is hereby granted and shall have a nonexclusive, royalty-free, irrevocable, perpetual, worldwide license (with rights to sublicense through
multiple tiers of sublicensees) to make, have made, modify, use, and sell such Prior Invention. Notwithstanding the foregoing, I agree that I will not incorporate, or permit to be incorporated, Prior Inventions in any Company Inventions without the
Company’s prior written consent. 

 2.4 Assignment of Inventions. Subject to Sections 2.5 and 2.7, I hereby assign and
agree to assign in the future (when any such Inventions or Proprietary Rights are first reduced to practice or first fixed in a tangible medium, as applicable) to the Company all my right, title, and interest in and to any and all Inventions (and
all Proprietary Rights with respect thereto), whether or not patentable or registrable under copyright or similar statutes, made or conceived or reduced to practice or learned by me, either alone or jointly with others, during the period of my
employment with the Company. Inventions assigned to the Company, or to a third party as directed by the Company pursuant to this Section 2, are hereinafter referred to as “Company Inventions.” 

2.5 Nonassignable Inventions. This Agreement does not apply to an Invention which qualifies fully as a nonassignable Invention
under Section 2870 of the California Labor Code (hereinafter “Section 2870”). I have reviewed the notification on Exhibit B (Limited Exclusion Notification) and agree that my signature acknowledges receipt of the
notification. 
 2.6 Obligation to Keep Company Informed. During the period of my employment and for six
(6) months after termination of my employment with the Company, I will promptly disclose to the Company fully and in writing all Inventions authored, conceived, or reduced to practice by me, either alone or jointly with others. In addition, I
will promptly disclose to the Company all patent applications filed by me or on my behalf within a year after termination of employment. At the time of each such disclosure, I will advise the Company in writing of any Inventions that I believe fully
qualify for protection under Section 2870; and I will at that time provide to the Company in writing all evidence necessary to substantiate that belief. The Company will keep in confidence and will not use for any purpose or disclose to third
parties without my consent any confidential information disclosed in writing to the Company pursuant to this Agreement relating to Inventions that qualify fully for protection under the provisions of Section 2870. I will preserve the
confidentiality of any Invention that does not fully qualify for protection under Section 2870. 
 2.7 Government or
Third Party. I also agree to assign all my right, title, and interest in and

 

 Mr. Eddie Gray 
 April 2, 2013 
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 to any particular Company Invention to a third party, including without limitation the United States, as
directed by the Company. 
 2.8 Works for Hire. I acknowledge that all original works of authorship which are made by
me (solely or jointly with others) within the scope of my employment and which are protectable by copyright are “works made for hire,” pursuant to United States Copyright Act (17 U.S.C., Section 101). 

2.9 Enforcement of Proprietary Rights. I will assist the Company in every proper way to obtain, and from time to time enforce,
United States and foreign Proprietary Rights relating to Company Inventions in any and all countries. To that end I will execute, verify, and deliver such documents and perform such other acts (including appearances as a witness) as the Company may
reasonably request for use in applying for, obtaining, perfecting, evidencing, sustaining, and enforcing such Proprietary Rights and the assignment thereof. In addition, I will execute, verify, and deliver assignments of such Proprietary Rights to
the Company or its designee. My obligation to assist the Company with respect to Proprietary Rights relating to such Company Inventions in any and all countries shall continue beyond the termination of my employment, but the Company shall compensate
me at a reasonable rate after my termination for the time actually spent by me at the Company’s request on such assistance. 
 In the event the Company is unable for any reason, after reasonable effort, to secure my signature on any document needed in connection with the actions specified in the preceding paragraph, I hereby
irrevocably designate and appoint the Company and its duly authorized officers and agents as my agent and attorney in fact, which appointment is coupled with an interest to act for and in my behalf to execute, verify, and file any such documents and
to do all other lawfully permitted acts to further the purposes of the preceding paragraph with the same legal force and effect as if executed by me. I hereby waive and quitclaim to the Company any and all claims, of any nature whatsoever, which I
now or may hereafter have for infringement of any Proprietary Rights assigned hereunder to the Company. 
 3. RECORDS. I
agree to keep and maintain adequate and current records (in the form of notes, sketches, and drawings, and in any other form that may be required by the Company) of all Proprietary Information developed by me and all Inventions made by me during the
period of my employment by the Company, which records shall be available to and remain the sole property of the Company at all times.

 4. ADDITIONAL ACTIVITIES. I agree that during the period of my
employment by the Company I will not, without the Company’s express written consent, engage in any employment or business activity which is competitive with, or would otherwise conflict with, my employment by the Company. I agree further that,
for the period of my employment by the Company, and for one (1) year after the date of termination of my employment by the Company, I will not induce any employee of the Company to leave the employ of the Company. 

5. NO CONFLICTING OBLIGATION. I represent that my performance of all the terms of this Agreement and
as an employee of the Company does not and will not breach any agreement to keep in confidence information acquired by me in confidence or in trust prior to my employment by the Company. I have not entered into, and I agree I will not enter into,
any agreement either written or oral in conflict herewith. 
 6. RETURN OF COMPANY
DOCUMENTS. When I leave the employ of the Company, I will deliver to the Company any and all drawings, notes, memoranda, specifications, devices, formulas, and documents, together with all copies thereof, and any other material
containing or disclosing any Company Inventions, Third-party Information, or Proprietary Information of the Company. I further agree that any property situated on the Company’s premises and owned by the Company, including disks and other
storage media, filing cabinets, or other work areas, is subject to inspection by Company personnel at any time with or without notice. Prior to leaving, I will cooperate with the Company in completing and signing the Company’s termination
statement. 
 7. LEGAL AND EQUITABLE REMEDIES. Because my services are
personal and unique and because I may have access to and become acquainted with the Proprietary Information of the Company, the Company shall have the right to enforce this Agreement and any of its provisions by injunction, specific performance, or
other equitable relief, without bond and without prejudice to any other rights and remedies that the Company may have for a breach of this Agreement. 
 8. NOTICES. Any notices required or permitted hereunder shall be given to the appropriate party at the address specified below or at such other address as the party shall specify in
writing. Such notice shall 

 

 Mr. Eddie Gray 
 April 2, 2013 
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 be deemed given upon personal delivery to the appropriate address or, if sent by certified or registered
mail, three (3) days after the date of mailing. 
 9. NOTIFICATION OF NEW
EMPLOYER. In the event that I leave the employ of the Company, I hereby consent to the notification of my new employer and any third party to whom I may provide consulting services of my rights and obligations under this
Agreement. 
  

	10.	GENERAL PROVISIONS. 

 10.1 Governing Law; Consent to Personal Jurisdiction. This Agreement will be governed by and construed according to the laws of the State of California, as such laws are applied to agreements
entered into and to be performed entirely within California between California residents. I hereby expressly consent to the personal jurisdiction of the state and federal courts located in California for any lawsuit filed there against me by Company
arising from or related to this Agreement. 
 10.2 Severability. In case any one or more of the provisions contained in
this Agreement shall, for any reason, be held to be invalid, illegal, or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect the other provisions of this Agreement, and this Agreement shall be construed as
if such invalid, illegal, or unenforceable provision had never been contained herein. If, moreover, any one or more of the provisions contained in this Agreement shall for any reason be held to be excessively broad as to duration, geographical
scope, activity, or subject, it shall be construed by limiting and reducing it so as to be enforceable to the extent compatible with the applicable law as it shall then appear.

 10.3 Successors and Assigns. This Agreement will be binding upon my heirs,
executors, administrators, and other legal representatives and will be for the benefit of the Company, its successors, and its assigns. 
 10.4 Survival. The provisions of this Agreement shall survive the termination of my employment and the assignment of this Agreement by the Company to any successor in interest or other assignee.

 10.5 Employment. I agree and understand that nothing in this Agreement shall confer any right with respect to
continuation of employment by the Company, nor shall it interfere in any way with my right or the Company’s right to terminate my employment at any time, with or without cause. 

10.6 Waiver. No waiver by the Company of any breach of this Agreement shall be a waiver of any preceding or succeeding breach.
No waiver by the Company of any right under this Agreement shall be construed as a waiver of any other right. The Company shall not be required to give notice to enforce strict adherence to all terms of this Agreement. 

10.7 Entire Agreement. The obligations pursuant to Sections 1 and 2 of this Agreement shall apply to any time during which I was
previously employed or engaged as a consultant, or am in the future employed or engaged as a consultant, by the Company. This Agreement is the final, complete, and exclusive agreement of the parties with respect to the subject matter hereof and
supersedes and merges all prior discussions between us. No modification of or amendment to this Agreement, nor any waiver of any rights under this Agreement, will be effective unless in writing and signed by the party to be charged. Any subsequent
change or changes in my duties, salary, or compensation will not affect the validity or scope of this Agreement. 

 

 Mr. Eddie Gray 
 April 2, 2013 
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 This Agreement shall be effective as of the first day of my employment with the Company.

 I HAVE READ THIS AGREEMENT CAREFULLY
AND UNDERSTAND ITS TERMS. I HAVE COMPLETELY FILLED OUT EXHIBIT A TO THIS
AGREEMENT. 
  

	
	Dated: April 3, 2013
	
	 /s/ Eddie Gray

	Signature

	
	 Eddie Gray

	Printed Name

 ACCEPTED AND AGREED TO: 

DYNAVAX TECHNOLOGIES CORPORATION 

 

			
	By:	  	 /s/ Michael Ostrach

	Title: Michael Ostrach, VP

 2929 Seventh Street, Suite 100 
 Berkeley, CA 94710 

 

 EXHIBIT A 

 

			
	TO:	  	DYNAVAX TECHNOLOGIES CORPORATION
		
	FROM:	  	Eddie Gray  
		  	Printed Name
		
	DATE:	  	April 3, 2013
		
	SUBJECT:	  	Previous Inventions

 1. Except as listed in Section 2 below, the following is a complete list of all inventions or improvements
relevant to the subject matter of my employment by DYNAVAX TECHNOLOGIES CORPORATION (the “Company”) that have been made or conceived or first reduced to practice by
me alone or jointly with others prior to my employment by the Company: 
  

			
	x        	  	No inventions or improvements.
		
	 ̈	  	See below:
		
		  	  

		
		  	  

		
		  	  

  

	 ̈	Additional sheets attached. 

Due to a prior confidentiality agreement, I cannot complete the disclosure under Section 1 above with respect to inventions or
improvements generally listed below, the proprietary rights and duty of confidentiality with respect to which I owe to the following party(ies): 
  

									
	 	 	Invention or Improvement        	    	            Party(ies)	    	            Relationship	 	 
					
	1.    	 	
                    
                     
	    	
                    
                     
	    	  
	 	
					
	2.	 	  
	    	  
	    	  
	 	
					
	3.	 	  
	    	  
	    	  
	 	

  

	 ̈	Additional sheets attached. 

  

	
	     /s/ Eddie Gray

	(Signature)

 EXHIBIT B 
 LIMITED EXCLUSION NOTIFICATION 
 THIS IS
TO NOTIFY you in accordance with Sections 2870 and 2872 of the California Labor Code that the foregoing Agreement between you and the Company does not require you to assign or offer to assign to the Company any
invention that you developed entirely on your own time without using the Company’s equipment, supplies, facilities, or trade-secret information except for those inventions that either: 

(1) Relate at the time of conception or reduction to practice of the invention to the Company’s business, or actual or demonstrably
anticipated research or development of the Company; or 
 (2) Result from any work performed by you for the Company. 

To the extent a provision in the foregoing Agreement purports to require you to assign an invention otherwise excluded from the preceding
paragraph, the provision is against the public policy of this state and is unenforceable. 
 This limited exclusion does not
apply to any patent or invention covered by a contract between the Company and the United States or any of its agencies requiring full title to such patent or invention to be in the United States.EX-10.79

 Exhibit 10.79 
 DYNAVAX TECHNOLOGIES CORPORATION 

MANAGEMENT CONTINUITY AND SEVERANCE AGREEMENT 

This Management Continuity and Severance Agreement (this “Agreement”) is made and entered into by and between Eddie Gray
(“Employee”), and Dynavax Technologies Corporation, a Delaware corporation (the “Company” or “Dynavax”), effective as of the date that Employee’s employment with Dynavax commences (the
“Effective Date”). 
 RECITALS 

A. The Company entered into an employment offer letter agreement with Employee, dated as of March 29, 2013 (the
“Employment Agreement”), under which Employee will, among other things, be employed as the Chief Executive Officer (“CEO”) of the Company. 
 B. It is expected that another company may from time to time consider the possibility of acquiring the Company or that a change in control may otherwise occur, with or without the approval of the
Company’s Board of Directors (the “Board”). The Board recognizes that such consideration can be a distraction to Employee and can cause Employee to consider alternative employment opportunities. The Board has determined that it
is in the best interests of the Company to assure that the Company will have the continued dedication and objectivity of the Employee, notwithstanding the possibility, threat, or occurrence of a Change of Control (as defined below) of the Company.

 C. The Board believes it is in the best interests of the Company to retain Employee and provide incentives to Employee
to continue in the service of the Company. 
 D. The Board further believes that it is imperative to provide Employee
with certain benefits upon a termination of Employee’s employment or upon or in connection with a Change of Control, which benefits are intended to provide Employee with encouragement to remain with the Company. 

In consideration of the mutual promises, covenants, and agreements contained herein, and in consideration of the employment of Employee
by the Company, the parties hereto agree as follows: 
  

	 	1.	Term; At-Will Employment. 

 (a) This Agreement shall be effective as of the Effective Date and shall terminate upon the earliest to occur of: (i) the date on which Employee ceases to be employed by the Company, other
than as a result of an Involuntary Termination or a Change of Control Termination; and (ii) the date that all obligations of the parties hereunder have been satisfied. 
 (b) The Company and Employee acknowledge that Employee’s employment is at-will, as defined under applicable law, and that Employee’s employment with the Company

 
may be terminated by either party at any time for any or no reason. If Employee’s employment with the Company terminates for any reason, Employee shall not be entitled to any payments,
benefits, damages, award, or compensation other than as provide in this Agreement, and as may otherwise be available in accordance with the terms of the Company’s established employee plans and written policies at the time of termination or as
otherwise required by law. 
  

	 	2.	Benefits upon Termination of Employment. 

 (a) Termination for Cause. If Employee’s employment is terminated for Cause at any time, then Employee shall not be entitled to receive payment of any severance benefits. Employee will
receive payment for all accrued but unpaid salary as of the date of Employee’s termination of employment for Cause, and Employee’s benefits will continue under the Company’s then-existing benefit plans and policies to the extent
provided by such plans and policies in effect on the date of termination and applicable law. If the Company proposes to terminate Employee’s employment for Cause, the Company shall provide written notice to Employee setting forth the reasons
for such termination and giving Employee an opportunity to respond and to cure his conduct providing Cause for termination (to the extent such reason is capable of cure) prior to the effective date of termination, which shall be not less than thirty
(30) calendar days after Employee’s receipt of such notice. Notwithstanding the foregoing, if Employee’s conduct providing Cause for termination is not capable of cure, the Company need not provide advance notice of termination for
Cause, and can terminate Employee’s employment for Cause immediately upon written notice to Employee setting forth the reasons for such termination. 
 (b) Other Terminations. If Employee’s employment ends as a result of death or disability, or other than by reason of Involuntary Termination or Change of Control Termination (each, as
defined below), then Employee shall not be entitled to receive payment of any severance benefits. Employee will receive payment for accrued but unpaid salary as of the date of Employee’s termination of employment, and Employee’s benefits
will be continued under the Company’s then-existing benefit plans and policies to the extent provided by such plans and policies in effect on the date of termination and applicable law. 

  
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 (c) Involuntary Termination. In the event of an Involuntary Termination,
subject to (i) Employee’s execution, delivery and non-revocation of a general release of all known and unknown claims in favor of the Company and other listed released parties, in the form attached hereto as Exhibit A (a
“Release”) within sixty (60) days following the date of Employee’s Involuntary Termination, (ii) Employee’s prompt resignation from the Board, and (iii) Employee’s continued compliance with the Employee
Proprietary Information and Inventions Agreement between the Company and Employee (the “Proprietary Information Agreement”) and any restrictive covenant agreements with the Company or any of its affiliates, Employee shall be
entitled to receive the following severance benefits: 
 (i) cash severance equal to the sum of
(A) twenty-four (24) months of Employee’s then-current Base Salary (ignoring any reduction in Base Salary that forms the basis for a resignation for Good Reason) and (B) 200% of Employee’s Annual Target Bonus for the year of
termination, which amount shall be payable, subject to applicable tax withholdings and Section 10(m), in one lump sum on the first payroll date to occur after the sixtieth (60th) day following the date of Employee’s Involuntary Termination; 

(ii) all outstanding equity awards (including but not limited to stock options and restricted stock awards) (A) subject to
time-based vesting criteria granted to Employee under the Company’s 2011 Equity Incentive Plan (the “Equity Plan”), and (B) that are held by Employee as of the date of Employee’s Involuntary Termination, shall
automatically accelerate and fully vest, effective as of the date of such Involuntary Termination; 
 (iii) with respect
to each option award granted to Employee under the Equity Plan that is vested as of the date of Employee’s Involuntary Termination, Employee shall have until the earlier of (A) the third anniversary of the date of Employee’s
Involuntary Termination and (B) the original term of the vested option (subject to earlier termination in the event of a Corporate Transaction (as defined in the Equity Plan) as may be provided under the Equity Plan) to exercise Employee’s
vested options. For the sake of clarity, in no event will any vested option be exercisable beyond its original full term; and 
 (iv) if Employee is participating in the Company’s employee group health insurance plans on the effective date of termination, and timely elects continued coverage under federal COBRA
continuation laws, or, if applicable, state or local insurance laws (collectively, “COBRA”), the Company shall, subject to Section 10(m), pay to Employee, on the first payroll date to occur after the sixtieth (60th) day following the date of Employee’s Involuntary
Termination, a cash payment equal to the applicable COBRA premiums for the first month of Employee’s COBRA coverage (including premiums for Employee and his eligible dependents who have elected COBRA coverage) multiplied by twenty-four (24),
subject to applicable tax withholdings (such amount, the “Involuntary Termination Lump Sum COBRA Cash Payment”). Employee may, but is not obligated to, use such Involuntary Termination Lump Sum COBRA Cash Payment toward the cost of
COBRA premiums. 
  

	 	3.	Benefits upon (or in connection with) a Change of Control. 

 (a) In the event of a Change of Control, and subject to Employee’s continued service with the Company through the date immediately prior to the closing of such Change of Control, subject to
Employee’s execution, delivery and non-revocation of a Release not later than the effective date of the Change of Control, all of Employee’s then-outstanding equity awards (including but not limited to stock options and restricted stock
awards) granted to Employee under the Equity Plan shall automatically accelerate and fully vest as of immediately prior to the effective time of such Change of Control. 

  
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 (b) If Employee incurs an Involuntary Termination on or within twenty-four
(24) months following the closing of a Change of Control (a “Change of Control Termination”), subject to (i) Employee’s execution, delivery and non-revocation of the Release not later than sixty (60) days
following the date of such Change of Control Termination, (ii) Employee’s prompt resignation from the Board, and (iii) Employee’s continued compliance with the Proprietary Information Agreement and any restrictive covenant
agreements with the Company or any of its affiliates, then Employee shall be entitled to receive the following severance benefits: 
 (i) cash severance equal to the sum of (A) twenty-four (24) months of Employee’s then-current Base Salary (ignoring any reduction in Base Salary that forms the basis for a
resignation for Good Reason) and (B) 200% of Employee’s Annual Target Bonus for the year of termination, which amount shall be payable, subject to applicable tax withholdings and Section 10(m), in a lump sum on the first payroll date
to occur after the sixtieth (60th) day following the
date of Employee’s Change of Control Termination; 
 (ii) all outstanding equity awards (including but not limited
to stock options and restricted stock awards) granted to Employee following the Change of Control (A) subject to time-based vesting criteria granted to Employee under the Equity Plan (or any equity plan of a successor company as a result of
such Change of Control) and (B) that are held by Employee as of the date of Employee’s Change of Control Termination shall automatically accelerate and fully vest, effective as of the date of such Change of Control Termination; 

(iii) with respect to each option award granted to Employee under the Equity Plan (or any equity plan of a successor company as a
result of such Change of Control) that is vested as of the date of Employee’s Change of Control Termination, Employee shall have until the earlier of (A) the third anniversary of the date of Employee’s Change of Control Termination,
and (B) the original term of the vested option (subject to earlier termination in the event of a Corporate Transaction (as defined in the Equity Plan) as may be provided under the Equity Plan) to exercise Employee’s vested options. For the
sake of clarity, in no event will any vested option be exercisable beyond its original full term; and 

(iv) if Employee is participating in the Company’s employee group health insurance plans on the
effective date of termination, and timely elects continued coverage under COBRA, the Company shall, subject to Section 10(m), pay to Employee, on the first payroll date to occur after the sixtieth (60th) day following the date of Employee’s Change of Control
Termination, a cash payment equal to the applicable COBRA premiums for the first month of Employee’s COBRA coverage (including premiums for Employee and his eligible dependents who have elected COBRA coverage) multiplied by twenty-four (24),
subject to applicable tax withholdings (such amount, the “CoC Termination Lump Sum COBRA Cash Payment”). Employee may, but is not obligated to, use such CoC Termination Lump Sum COBRA Cash Payment toward the cost of COBRA premiums.

  
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 4. No Duplication of Benefits. In no event shall Employee receive severance
benefits under both Section 2(c) and Section 3(b). For the avoidance of doubt, in the event Employee is terminated for Cause, he resigns other than for Good Reason, or his employment terminates due to his death or disability, Employee will
not be entitled to any of the benefits set forth in Section 2(c) or Section 3(b). 
 5. Definition of
Terms. The following capitalized terms referred to in this Agreement shall have the following meanings: 
 (a)
“Annual Target Bonus” shall mean the target annual incentive bonus that Employee is eligible to earn with respect to the calendar year in which his employment terminates, as determined by the Board in its discretion, provided
that, if no Annual Target Bonus is in effect for such year then the Annual Target Bonus amount (for purposes of this Agreement only) shall be equal to sixty percent (60%) of Employee’s Base Salary. 

(b) “Base Salary” shall mean the annual base salary paid to Employee, which for the avoidance of doubt shall
initially be equal to $500,000 per year. 
 (c) “Change of Control” shall mean the occurrence of any of
the following events: 
 (i) Change of Ownership. Any “Person” (as such term is used in Sections 13(d)
and 14(d) of the Securities Exchange Act of 1934, as amended) is or becomes the “Beneficial Owner” (as defined in Rule 13d-3 under said Act), directly or indirectly, of securities of the Company representing 50% or more of the total voting
power represented by the Company’s then-outstanding voting securities; or 
 (ii) Merger/Sale of Assets. In
the event of (x) a merger, acquisition or consolidation of the Company, whether or not approved by the Board, other than a merger, acquisition or consolidation which would result in the voting securities of the Company outstanding immediately
prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) at least 50% of the total voting power represented by the voting securities of the Company or such surviving
entity outstanding immediately after such merger or consolidation; or (y) the sale or disposition by the Company of all or substantially all of the Company’s assets. 
 Notwithstanding the foregoing, to the extent required for compliance with Section 409A of the Code, in no event will a Change of Control be deemed to have occurred if such transaction is not also a
“change in the ownership or effective control of” the Company or “a change in the ownership of a substantial portion of the assets of” the Company as determined under Treasury Regulations Section 1.409A-3(i)(5) (without
regard to any alternative definition thereunder). 

  
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 (d) “Cause” shall mean: (i) gross negligence or willful
misconduct in the performance of Employee’s duties to the Company (or any successor corporation), where such gross negligence or willful misconduct has resulted or is reasonably likely to result in substantial and material damage to the Company
(or any successor corporation) and its subsidiaries taken as a whole; (ii) repeated unexplained or unjustified absence from the Company (or any successor corporation); (iii) a material and willful violation of any federal or state law
(other than misdemeanor traffic violations) that has resulted or is reasonably likely to result in substantial and material damage to the Company (or any successor corporation) and its subsidiaries taken as a whole; (iv) commission of any act
of fraud with respect to the Company (or any successor corporation) that is material and significant; or (v) conviction of a felony or a crime involving moral turpitude causing material harm to the standing and reputation of the Company (or any
successor corporation), in each case as determined in good faith by the Board (or the board of directors of any successor corporation). 
 (e) “Code” means the Internal Revenue Code of 1986, as amended. 
 (f) “Good Reason” shall mean Employee’s resignation from all employment positions he then holds with the Company (or any successor corporation) and its affiliates as a result
of: 
 (i) a material reduction or change in Employee’s job duties, responsibilities, and requirements inconsistent
with the Employee’s position with the Company (or any successor corporation) and Employee’s prior duties, responsibilities, and requirements; 
 (ii) a requirement that Employee report to a corporate officer or employee rather than the Board (or the board of directors of any successor corporation); 

(iii) a material reduction of Employee’s Base Salary or Annual Target Bonus opportunity (other than in connection with a
general decrease in base salary or annual target bonus opportunity for most officers of the Company or any successor corporation); 
 (iv) a requirement that Employee relocate to a facility or location that increases Employee’s one-way commute by more than thirty-five (35) miles; or 

(v) any other action that constitutes a material breach by the Company (or any successor thereto) of this Agreement. 

Notwithstanding the foregoing, Good Reason shall only exist if: (x) Employee provides written notice to the Company (or any
successor corporation) of the existence of the condition that forms the basis for such resignation for Good Reason within ninety (90) days following its initial existence; (y) upon such notice, the Company (or any successor corporation)
does not cure such condition within thirty (30) days thereafter to the reasonable 

  
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satisfaction of Employee; and (z) Employee’s resignation occurs not later than one hundred eighty (180) days after the occurrence of the condition giving rise to the right to
resign for Good Reason. 
 (g) “Involuntary Termination” shall mean a termination of Employee’s
employment with the Company (or any successor corporation) and its affiliates in any case as a result of either: (i) a termination by the Company (or any successor corporation) without Cause and other than as a result of Employee’s death
or disability; or (ii) Employee’s resignation for Good Reason. 
 6. Conflicts. Employee represents that
his performance of all the terms of this Agreement will not breach any other agreement to which Employee is a party. Employee has not entered, and will not during the term of this Agreement enter, into any oral or written agreement in conflict with
any of the provisions of this Agreement. Employee further represents that he is entering into or has entered into an employment relationship with the Company of his own free will and that he has not been solicited as an employee in any way by the
Company. 
 7. Successors. Any successor to the Company (whether direct or indirect and whether by purchase,
lease, merger, consolidation, liquidation, or otherwise) to all or substantially all of the Company’s business and/or assets shall assume the obligations under this Agreement and agree expressly to perform the obligations under this Agreement
in the same manner and to the same extent as the Company would be required to perform such obligations in the absence of a succession. The terms of this Agreement and all of Employee’s rights hereunder and thereunder shall inure to the benefit
of, and be enforceable by, Employee’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees, and legatees. 
 8. Notice. Notices and all other communications contemplated by this Agreement shall be in writing and shall be deemed to have been duly given when personally delivered or when mailed by
U.S. registered or certified mail, return receipt requested and postage prepaid. Mailed notices to Employee shall be addressed to Employee at the home address that Employee most recently communicated to the Company in writing. In the case of the
Company, mailed notices shall be addressed to its corporate headquarters, and all notices shall be directed to the attention of its Secretary. 
  

	 	9.	Parachute Payments. 

(a) If any payment or benefit Employee would receive from the Company or otherwise in connection with a Change of Control or other
similar transaction (“Payment”) would (i) constitute a “parachute payment” within the meaning of Section 280G of the Code, and (ii) but for this sentence, be subject to the excise tax imposed by
Section 4999 of the Code (the “Excise Tax”), then such Payment shall be equal to the Reduced Amount. The “Reduced Amount” shall be either (x) the largest portion of the Payment that would result in no
portion of 

  
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the Payment being subject to the Excise Tax, or (y) the largest portion, up to and including the total, of the Payment, whichever amount ((x) or (y)), after taking into account all
applicable federal, state and local employment taxes, income taxes, and the Excise Tax (all computed at the highest applicable marginal rate), results in Employee’s receipt of the greatest economic benefit notwithstanding that all or some
portion of the Payment may be subject to the Excise Tax. If a Reduced Amount will give rise to the greater after tax benefit, the reduction in the Payments shall occur in the following order: (a) reduction of cash payments;
(b) cancellation of accelerated vesting of equity awards other than stock options; (c) cancellation of accelerated vesting of stock options; and (d) reduction of other benefits paid to Employee. Within any such category of payments
and benefits (that is, (a), (b), (c) or (d)), a reduction shall occur first with respect to amounts that are not “deferred compensation” within the meaning of Section 409A and then with respect to amounts that are. In the event
that acceleration of compensation from Employee’s equity awards is to be reduced, such acceleration of vesting shall be canceled, subject to the immediately preceding sentence, in the reverse order of the date of grant. 

(b) The independent registered public accounting firm engaged by the Company for general audit purposes as of the day prior to the
effective date of the event described in Section 280G(b)(2)(A)(i) of the Code shall perform the foregoing calculations. If the independent registered public accounting firm so engaged by the Company is serving as accountant or auditor for the
individual, entity or group effectuating such event, the Company shall appoint a nationally recognized independent registered public accounting firm to make the determinations required hereunder. The Company shall bear all expenses with respect to
the determinations by such independent registered public accounting firm required to be made hereunder. The independent registered public accounting firm engaged to make the determinations hereunder shall provide its calculations, together with
detailed supporting documentation, to the Company and Employee within thirty (30) calendar days after the date on which Employee’s right to a Payment is triggered (if requested at that time by the Company or Employee) or such other time as
reasonably requested by the Company or Employee. Any good faith determinations of the independent registered public accounting firm made hereunder shall be final, binding and conclusive upon the Company and Employee. 

 

	 	10.	Miscellaneous Provisions. 

 (a) No Duty to Mitigate. Employee shall not be required to mitigate the amount of any payment contemplated by this Agreement (whether by seeking new employment or in any other manner), nor
shall any such payment be reduced by any earnings that Employee may receive from any other source. 
 (b) Waiver.
No provision of this Agreement shall be modified, waived, or discharged unless the modification, waiver, or discharge is agreed to in writing and signed by Employee and by an authorized officer of the Company (other than Employee) or any successor
corporation. No waiver by either party of any breach of, or of compliance with, any condition or provision of this Agreement by the other party shall be considered a waiver of any other condition or provision or of the same condition or provision at
another time. 

  
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 (c) Entire Agreement. This Agreement (including Exhibit A),
together with the Employment Agreement and the Proprietary Inventions Agreement, constitute the entire agreement between Employee and the Company with regard to this subject matter and is the complete, final, and exclusive embodiment of the
parties’ agreement with regard to this subject matter. No agreements, representations, or understandings (whether oral or written and whether expressed or implied) which are not expressly set forth in this Agreement have been made or entered
into by either party with respect to the subject matter hereof. This Agreement may not be modified or amended in any way except by a written agreement executed by Employee and a duly authorized member of the Board. 

(d) Choice of Law. The validity, interpretation, construction and performance of this Agreement shall be governed by the
laws of the State of California without reference to conflict of laws provisions. 
 (e) Severability. If any term
or provision of this Agreement or the application thereof to any circumstance shall, in any jurisdiction and to any extent, be invalid or unenforceable, such term or provision shall be ineffective as to such jurisdiction to the extent of such
invalidity or unenforceability without invalidating or rendering unenforceable the remaining terms and provisions of this Agreement or the application of such terms and provisions to circumstances other than those as to which it is held invalid or
unenforceable, and a suitable and equitable term or provision shall be substituted therefore to carry out, insofar as may be valid and enforceable, the intent and purpose of the invalid or unenforceable term or provision. 

(f) Arbitration. Any dispute or controversy arising under or in connection with this Agreement will be subject to the
dispute resolution terms set forth in the Employment Agreement. 
 (g) Legal Fees and Expenses. The parties shall
each bear their own expenses, legal fees, and other fees incurred in connection with this Agreement. This means the Company pays its own legal fees in connection with this Agreement and the Employee is responsible for his own legal fees in
connection with this Agreement. However, the arbitrator may award legal fees and expenses in connection with any arbitration concerning this Agreement, as deemed appropriate by such arbitrator. 

(h) No Assignment of Benefits. The rights of any person to payments or benefits under this Agreement shall not be made
subject to option or assignment, either by voluntary or involuntary assignment or by operation of law, including (without limitation) bankruptcy, garnishment, attachment, or other creditor’s process, and any action in violation of this
Section 10(h) shall be void. 

  
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 (i) Employment Taxes. All payments made pursuant to this Agreement will be
subject to withholding of applicable income and employment taxes. 
 (j) Assignment by Company. The Company may
assign its rights under this Agreement to an affiliate, and an affiliate may assign its rights under this Agreement to another affiliate of the Company or to the Company; provided, however, that such assignee is the employer of the
Employee. In the case of any such assignment, the term “Company” when used in a section of this Agreement shall mean the corporation that actually employs the Employee except that the term “Company” shall continue to mean Dynavax
Technologies Corporation with regard to the definition of a Change of Control. 
 (k) Counterparts. This Agreement
may be executed in counterparts, each of which shall be deemed an original, but all of which together will constitute one and the same instrument. 
 (l) Headings. The headings of the Sections hereof are provided for convenience only and are not to serve as a basis for interpretation or construction, and shall not constitute a part, of
this Agreement. 
 (m) Application of Section 409A. 

(i) The intent of the parties is that payments and benefit under this Agreement comply with or be exempt from Section 409A
of the Code and the regulations and guidance promulgated thereunder (collectively, “Section 409A”) and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewith. To the extent
that any provision hereof is modified in order to comply with or be exempt from Section 409A, such modification shall be made in good faith and shall, to the maximum extent reasonably possible, maintain the original intent and economic benefit
to Employee and the Company of the applicable provision without violating the provisions of Section 409A. 

(ii)(A) All expenses or other reimbursements as provided herein shall be payable in accordance with the Company’s policies
in effect from time to time, but in any event shall be made on or prior to the last day of the taxable year following the taxable year in which such expenses were incurred by Employee; (B) no such reimbursement or expenses eligible for
reimbursement in any taxable year shall in any way affect the expenses eligible for reimbursement in any other taxable year; and (C) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchanged for another
benefit. 
 (iii) For purposes of Section 409A, Employee’s right to receive any installment payments pursuant
to this Agreement shall be treated as a right to receive a series of separate and distinct payments. Whenever a payment under this Agreement specifies a payment period with reference to a number of days (e.g., “payment shall be made
within thirty days following the date of termination”), the actual date of payment within the specified period shall be within the sole discretion of the Company. 

  
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 (iv) A termination of employment shall not be deemed to have occurred for purposes
of this Agreement providing or the payment of any amounts or benefits that are considered nonqualified deferred compensation under Section 409A upon or following a termination of employment, unless such termination is also a “separation
from service” within the meaning of Section 409A and the payment thereof prior to a “separation from service” would violate Section 409A. For purposes of any such provision of this Agreement relating to any such payments or
benefits, references to a “termination,” “termination of employment” or like terms shall mean “separation from service.” If Employee is deemed on the date of termination to be a “specified employee” within the
meaning of that term under Section 409A(a)(2)(B), then, notwithstanding any other provision herein, with regard to any payment or the provision of any benefit that is considered nonqualified deferred compensation under Section 409A payable
on account of a “separation from service,” such payment or benefit shall not be made or provided prior to the date which is the earlier of (A) the expiration of the six-month period measured from the date of such “separation from
service” of Employee, and (B) the date of Employee’s death (the “Delay Period”). Upon the expiration of the Delay Period, all payments and benefits delayed pursuant to this Section 10(l)(iv) (whether they would
have otherwise been payable in a single lump sum or in installments in the absence of such delay) shall be paid or reimbursed to Employee in a lump sum on the first business day following the Delay Period, and any remaining payments and benefits due
under this Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein. 
 (v)
Nothing contained in this Agreement shall constitute any representation or warranty by the Company regarding compliance with Section 409A. Subject to the above provisions of this Section 10(l), (i) the Company has no obligation to
take any action to prevent the assessment of any additional income tax, interest or penalties under Section 409A on any person and (ii) the Company, its subsidiaries and affiliates, and each of their employees and representatives shall not
have any liability to Employee with respect thereto. 
 [Signatures Follow] 

  
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 IN WITNESS WHEREOF, the
parties have entered into this Agreement to be effective as of the Effective Date. 
  

			
	DYNAVAX TECHNOLOGIES CORPORATION
		
	By:	 	 /s/ Daniel Kisner M.D.

	Name:	 	      Daniel Kisner, M.D.
	Title:	 	Director
	
	EMPLOYEE
	
	 /s/ Eddie Gray

	Eddie Gray

 Exhibit A – Separation Date Release 

  
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 EXHIBIT A 

SEPARATION DATE RELEASE 

As required by the Management Continuity and Severance Agreement (the “Agreement”) between me and Dynavax Technologies
Corporation, a Delaware corporation (the “Company” or “Dynavax”), and in exchange for certain consideration to be provided to me under the Agreement in certain circumstances following the commencement of my
employment with the Company, as specified in the Agreement, I hereby provide the following Separation Date Release (the “Release”). 
 1. I hereby generally and completely release the Company, its parent and subsidiary entities, and their respective directors, officers, employees, shareholders, partners, agents, attorneys, predecessors,
successors, insurers, affiliates, and assigns (the “Released Parties”) of and from any and all claims, liabilities and obligations, both known and unknown, that arise out of or are in any way related to events, acts, conduct, or
omissions occurring at any time prior to and including the date I sign this Release. The Released Claims include the following: (i) all claims arising out of or in any way related to my employment or the termination of that employment;
(ii) all claims related to my compensation or benefits, including salary, overtime, bonuses, commissions, vacation pay, paid time off, expense reimbursements, severance pay, carried interest, fringe benefits, stock, stock options, or any other
equity or ownership interests in the Company; (iii) all claims for breach of contract, wrongful termination, and breach of the implied covenant of good faith and fair dealing; (iv) all tort claims, including claims for fraud, defamation,
emotional distress, and discharge in violation of public policy; and (v) all federal, state, and local statutory claims, including claims for discrimination, harassment, retaliation, attorneys’ fees, or other claims arising under the
federal Civil Rights Act of 1964 (as amended), the federal Americans with Disabilities Act of 1990, the federal Age Discrimination in Employment Act (as amended) (“ADEA”), the California Labor Code (as amended), and the California
Fair Employment and Housing Act (as amended). 
 2. Notwithstanding the foregoing, the following are not included in the
Released Claims (the “Excluded Claims”): (i) any rights or claims for indemnification I may have pursuant to any fully executed indemnification agreement with the Company to which I am a party or under applicable law;
(ii) any rights or claims which are not waivable as a matter of law; and (iii) any claims for breach of the Agreement arising after the date that I sign this Release. In addition, nothing in this Release prevents me from filing,
cooperating with, or participating in any proceeding before the Equal Employment Opportunity Commission, the Department of Labor, the California Fair Employment and Housing Commission, or any other government agency, except that I acknowledge and
agree that I hereby waive my right to any monetary benefits in connection with any such claim, charge or proceeding. I represent and warrant that, other than the Excluded Claims, I am not aware of any claims I have or might have against any of the
Released Parties that are not included in the Released Claims. 

  
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 3. I acknowledge that I am knowingly and voluntarily waiving and releasing any rights I may
have under the ADEA, and that the consideration given for the waiver and release in the preceding paragraph is in addition to anything of value to which I am already entitled. I further acknowledge that I have been advised by this writing that:
(i) my waiver and release do not apply to any rights or claims that may arise after the date I sign this Release; (ii) I should consult with an attorney prior to signing this Release (although I may choose voluntarily not to do so);
(iii) I have at least twenty-one (21) days to consider this Release (although I may choose voluntarily to sign it earlier); (iv) I have seven (7) days following the date I sign this Release to revoke it by providing written
notice of revocation to the Chairman of the Company’s Board of Directors; and (v) this Release will not be effective until the date upon which the revocation period has expired, which will be the eighth calendar day after the date I sign
it if I do not revoke it (the “Effective Date”). 
 4. In giving the releases set forth in this Release, I
acknowledge that I have read and understand Section 1542 of the California Civil Code which reads as follows: “A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the
time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor.” I hereby expressly waive and relinquish all rights and benefits under that section and any law or legal
principle of similar effect in any jurisdiction with respect to my release of claims herein, including but not limited to the release of claims unknown to me at present. 
 5. I hereby represent that I have been paid all compensation owed and for all hours worked, I have received all the leave and leave benefits and protections for which I am eligible pursuant to applicable
laws or otherwise, and I have not suffered any on-the-job injury or illness for which I have not already filed a workers’ compensation claim. 
 6. I further agree: (i) not to disparage the Company, or any of the other Released Parties, in any manner likely to be harmful to its or their business, business reputation, or personal reputation
(although I may respond accurately and fully to any request for information as required by legal process); (ii) not to voluntarily (except in response to legal compulsion) assist any third party in bringing or pursuing any proposed or pending
litigation, arbitration, administrative claim or other formal proceeding against the Company, its parent or subsidiary entities, affiliates, officers, directors, employees or agents; (iii) to reasonably cooperate with the Company, by
voluntarily (without legal compulsion) providing accurate and complete information, in connection with the Company’s actual or contemplated defense, prosecution, or investigation of any claims or demands by or against third parties, or other
matters, arising from events, acts, or failures to act that occurred during the period of my employment by the Company; and (iv) for a period of twelve (12) months after the termination of my employment, I will not, directly or indirectly,
whether on my own behalf or on behalf of another party, solicit, induce, or attempt to solicit or induce, any employee, consultant or contractor of the Company to terminate or reduce an employment or other contractual relationship with the Company.

  
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	REVIEWED, UNDERSTOOD, AND AGREED:
	
	 /s/ Eddie Gray

	Eddie Gray
	
	April 3, 2013
	Date

  
 A-3

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