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Exhibit 10.519    
    

 
 

CHIRON CORPORATION
  CORPORATE GOVERNANCE GUIDELINES    
    
    INTRODUCTION    
    

        The
Board of Directors of Chiron Corporation ("Chiron") is elected by the stockholders of Chiron to serve their interests through oversight of management and Chiron's business. The
primary responsibility of the directors is to exercise their business judgment in the best interests of Chiron and its stockholders. The Board, acting on the recommendation of its Nominating and
Corporate Governance Committee, has developed and adopted these corporate governance principles (the "Guidelines") to promote the functioning of the Board and its committees, to promote the interests
of stockholders and to set forth a common set of expectations as to how the Board, its various committees and individual directors should perform their functions. Chiron is party to a Governance
Agreement, dated as of November 20, 1994, with Novartis AG ("Novartis"), as amended (as it may be further amended from time to time, the "Governance Agreement") and these guidelines have been
developed in light of, among other things, that agreement. 

 
 

BOARD COMPOSITION    
    

        The composition of the Board should balance the following goals: 

	•
	The
size of the Board should facilitate substantive discussions of the whole Board in which each director can participate meaningfully;

	•
	The
composition of the Board should encompass a broad range of skills, expertise, industry knowledge, diversity of opinion and contacts relevant to Chiron's business;

	•
	The
composition of the Board shall reflect the requirements of the Governance Agreement;

	•
	A
substantial majority of the Board shall consist of directors who are neither officers or employees of Chiron or its subsidiaries nor have a relationship which, in the
opinion of the Board, would interfere with the exercise of independent judgment in carrying out the responsibilities of a director, and who are otherwise "independent" under the rules of the Nasdaq
Stock Market, Inc. 

 
 

SELECTION OF CHAIRPERSON OF THE BOARD AND CHIEF EXECUTIVE OFFICER    
    

        The Board is free to select its Chairperson and Chiron's Chief Executive Officer (the "CEO") in the manner it considers in the best interests of Chiron at any
given point in time. These positions may be filled by one individual or by two different individuals. 

 
 

SELECTION OF DIRECTORS    
    

        Nominations.    Subject to the Governance Agreement and the right of Novartis to designate a specific number of the members of
the Board pursuant thereto, the Nominating and Corporate Governance Committee is responsible for determining the slate of director nominees for election to Chiron's Board of Directors and the
individuals to fill vacancies occurring between annual meetings of stockholders. 

        Criteria.    The Nominating and Corporate Governance Committee shall determine new nominees for the position of independent
director who satisfy the requirements of the Nasdaq Stock Market, Inc., the Governance Agreement and the following criteria: 

	•
	Personal
qualities and characteristics, accomplishments and reputation in the business community; 

 

	•
	Current
knowledge and contacts in the communities in which Chiron does business and in Chiron's industry or other industries relevant to Chiron's business;

	•
	Ability
and willingness to commit adequate time to Board and committee matters;

	•
	The
fit of the individual's skills and personality with those of other directors and potential directors in building a Board that is effective, collegial and responsive to
the needs of Chiron; and

	•
	Diversity
of viewpoints, background, experience and other factors. 

        Invitation.    The invitation to join the Board should be extended by the Board itself via the Chairperson of the Board and CEO
of Chiron, together with an independent director, when deemed appropriate. 

        Orientation and Continuing Education.    Management, working with the Board, will provide an orientation process for new
directors, including background material on Chiron, its business plan and its risk profile, and meetings with senior management. Periodically, management should prepare additional educational sessions
for directors on matters relevant to Chiron, its business plan and risk profile. 

 
 

ELECTION TERM    
    

        The Board does not believe it should establish term limits. 

 
 

RETIREMENT OF DIRECTORS    
    

        The Board does not believe it should establish a mandatory retirement age. In determining the slate of director nominees to stand for election or in filling any
vacancy, the Nominating and Corporate Governance Committee will consider the age of each nominee among all other relevant factors. 

 
 

PRESIDING DIRECTOR    
    

        The Board, acting upon management's recommendation, believes that in situations where a single individual serves as the CEO and Chairperson of the Board, it would
be most appropriate to appoint a presiding director ("Presiding Director"). In such circumstances, the Presiding Director position reinforces the appropriate balance of power between the
CEO/Chairperson of the Board and the independent directors. The role of the Presiding Director supports the ability of the independent directors to perform their oversight responsibilities and
furthers the perception that that the Board acts independently of management. The scope of authority and responsibilities of the Presiding Director should be determined by what is needed to achieve
the twin goals of: (a) furthering strong, independent Board leadership generally, and (b) enabling the independent directors to perform their specific role as independent directors at a
high level. 

        The
Presiding Director should be responsible for the following tasks and should be empowered as necessary to perform them: 

	•
	Facilitate
provision of appropriate resources and support for all work and analysis which independent directors are required to perform (or which are best done by them);

	•
	Establish
and regularly evaluate processes to support the work of the independent directors;

	•
	Determine
the agenda for meetings of the independent directors, chair all such meetings and cause adequate materials and other support to be provided in connection with such
meetings;

	•
	Consult
regularly with the Chair of the Board concerning agenda for Board meetings and concerning materials that will be provided in advance of such meetings; 

2

 

	•
	Chair
meetings of the Board when the Chairperson of the Board is not available or when the Chairperson of Board is unable to perform such functions (due to conflict or
otherwise); and

	•
	In
conjunction with the Nominating and Corporate Governance Committee, oversee the periodic review by the independent directors of the effectiveness of the Board, and its
Committees who are composed of independent directors. 

 
 

BOARD MEETINGS    
    

        The Board currently plans four meetings each year, with further meetings to occur (or action to be taken by unanimous consent) at the discretion of the Board. The
meetings will usually consist of committee meetings and the Board meeting, extended over two or three days. 

        The
agenda for each Board meeting will be determined by the Board Chair in consultation with the Chief Executive Officer. The agenda will be prepared by the Corporate Secretary.
Management will seek to provide to all directors an agenda and appropriate materials in advance of meetings, although the Board recognizes that this will not always be consistent with the timing of
transactions and the operations of the business and that in certain cases it may not be possible. 

 
 

EXECUTIVE SESSIONS    
    

        All non-management directors will have four regularly scheduled meetings each year, at which only non-management directors are present. In
addition, to ensure free and open discussion and communication among the independent directors of the Board, the independent directors will have two regularly scheduled executive sessions each year,
and more frequently as necessary or desirable, in conjunction with regularly scheduled meetings of the Board. 

 
 

THE COMMITTEES OF THE BOARD    
    

        Chiron shall have at least the committees required by the rules of the Nasdaq Stock Market, Inc. and the Governance Agreement. Except to the extent that
the Board has delegated or delegates in the future its authority to a committee, all power and authority of the Board is reserved by the Board to itself. Currently, Chiron's committees consist of the
Audit Committee, the Compensation Committee, a nominating committee, which at Chiron is called the Nominating and Corporate Governance Committee, the Stock Option Plan Administration Committee, the
Finance Committee and, as may be required from time to time under the terms of the Governance Agreement, a Strategic Planning Committee. 

        The
Chair of each Committee shall set the agenda for meetings of his or her Committee. All directors, whether members of a committee or not, are invited to make suggestions to a
committee chair for additions to the agenda of his or her committee or to request that an item from a committee agenda be considered by the Board. Each committee chair will give a periodic report of
his or her committee's activities to the Board. 

        Each
of the Nominating and Corporate Governance Committee, the Audit Committee and the Compensation Committee shall be composed of directors who are not officers or employees of Chiron
or its subsidiaries or any other individual having a relationship which, in the opinion of the Board, would interfere with the exercise of independent judgment in carrying out the responsibilities of
a director, and who are otherwise "independent" and qualified to serve as a member of such committee under applicable law and under the rules of the Nasdaq Stock Market, Inc. The required
qualifications for the members of each committee shall be set out in the respective committees' charters. A director may serve on more than one committee for which he or she qualifies. 

3

 

 
 

MANAGEMENT DEVELOPMENT AND CEO SUCCESSION    
    

        At least annually, the Board shall review and concur in a succession plan, developed by management, addressing the policies and principles for selecting a
successor to the CEO, both in an emergency situation and in the ordinary course of business. The succession plan should include an assessment of the experience, performance, skills and planned career
paths for possible successors to the CEO. The Board shall receive and review at least annually reports from the CEO regarding senior management development. 

 
 

TRANSACTIONS WITH NOVARTIS    
    

        The Governance Agreement governs certain aspects of the relationship between Chiron and Novartis. Among other things, under the Governance Agreement, Chiron will
not enter into specified agreements or transactions with Novartis without first obtaining the approval of the Independent Directors (as defined in the Governance Agreement) or requisite stockholder
approval. Such governance principles of the Governance Agreement will be considered to be incorporated in, and a part of, these guidelines. 

 
 

BOARD COMPENSATION    
    

        The Compensation Committee shall review periodically and not less frequently than every three years, and report to the Board with its recommendations regarding,
the components and amount of Board compensation, including its evaluation of compensation of boards of similarly situated companies. In order to align the interests of directors and stockholders, the
Board believes that directors should receive a significant part of their on-going compensation in the form of equity in Chiron. Such equity compensation should consist of restricted share
rights which entitle directors to receive shares of Chiron common stock only upon cessation of service on the Board. The Board believes that such restricted share rights, by requiring directors to
maintain an ownership interest in Chiron throughout the directors' tenure, will firmly align directors' interests with the long-term interests of Chiron's stockholders. The Board also
intends to continue to use stock option grants in order to attract leading candidates to serve on the Board, but a significant portion of the stock issued to directors upon exercise of options should
be subject to certain restrictions on transfer to further align the directors' interests with the long-term interests of stockholders. 

 
 

EXPECTATIONS OF DIRECTORS    
    

        The business and affairs of Chiron shall be managed by or under the direction of the Board in accordance with Delaware law. In performing their duties, the
primary responsibility of the directors is to exercise their business judgment in the best interests of Chiron and its stockholders. The Board has developed a number of specific expectations of
directors to promote the discharge of this responsibility and the efficient conduct of the Board's business. 

        Commitment and Attendance.    All directors should make all reasonable efforts to attend meetings of the Board and meetings of
committees of which they are members. Members may attend by telephone or video conference (when available) to mitigate conflicts. 

        Participation in Meetings.    Each director should be sufficiently familiar with the business of Chiron, including its financial
statements and capital structure, and the risks and competition it faces, to facilitate active and effective participation in the deliberations of the Board and of each committee on which he or she
serves. Upon request, management will make appropriate personnel available to answer any questions a director may have about any aspect of Chiron's business. Directors should review the materials
provided by management and advisors in advance of the meetings of the Board and its committees and should arrive prepared to discuss the issues presented. 

4

 

        Loyalty and Ethics.    In their roles as directors, all directors owe a duty of loyalty to Chiron. This duty of loyalty mandates
that the interests of Chiron take precedence over any interests possessed by a director. 

        Chiron
has adopted a Board of Directors Procedure Re: Conflicts of Interest (the "Procedure"), and a Code of Conduct (the "Code"), which includes a compliance program for enforcement.
Both the Procedure and the Code deal with activities of directors, particularly with respect to potential conflicts of interest and the taking of corporate opportunities for personal use. The
Procedure provides, among other things, that conflicts of interest or potential conflicts of interest concerning a director or the CEO are to be reported to the Nominating and Corporate Governance
Committee. Directors should be familiar with the Procedure's and the Code's provisions in these areas and should consult with Chiron's counsel in the event of any issues. 

        Other Directorships.    Chiron values the experience directors bring from other boards on which they serve, but recognizes that
those boards may also present demands on a director's time and availability and
may present conflicts or legal issues. Directors should advise the chairperson of the Nominating and Corporate Governance Committee and the CEO before accepting membership on other boards of directors
or other significant commitments involving affiliation with other businesses or governmental units. 

        Contact with Management.    All directors are invited to contact the CEO at any time to discuss any aspect of Chiron's business.
Directors also have complete access to other members of management. The Board expects that there will be frequent opportunities for directors to meet with the CEO and other members of management in
Board and committee meetings and in other formal or informal settings. 

        Further,
the Board encourages management to, from time to time, bring managers into Board meetings who: (a) can provide additional insight into the items being discussed because
of personal involvement and substantial knowledge in those areas, and/or (b) are managers with future potential that the senior management believes should be given exposure to the Board. 

        Contact with Other Constituencies.    It is important that Chiron speak to employees and outside constituencies with a single
voice, and that management serve as the primary spokesperson. 

        Confidentiality.    The proceedings and deliberations of the Board and its committees are confidential. Each director shall
maintain the confidentiality of information received in connection with his or her service as a director. 

 
 

EVALUATING BOARD PERFORMANCE    
    

        The Board, acting through the Nominating and Corporate Governance Committee, should conduct a self-evaluation at least annually to determine whether
it is functioning effectively. The Nominating and Corporate Governance Committee should periodically consider the mix of skills and experience that directors bring to the Board to assess whether the
Board has the necessary tools to perform its oversight function effectively. 

        Each
committee of the Board should conduct a self-evaluation at least annually and report the results to the Board. Each committee's evaluation must compare the performance
of the committee with the requirements of its written charter, if any. 

 
 

RELIANCE ON MANAGEMENT AND OUTSIDE ADVICE    
    

        In performing its functions, the Board is entitled to rely on the advice, reports and opinions of management, counsel, accountants, auditors and other expert
advisors. The Board shall have the authority to retain and approve the fees and retention terms of its outside advisors. 

5

QuickLinks

Exhibit 10.519

CHIRON CORPORATION CORPORATE GOVERNANCE GUIDELINES INTRODUCTION

BOARD COMPOSITION

SELECTION OF CHAIRPERSON OF THE BOARD AND CHIEF EXECUTIVE OFFICER

SELECTION OF DIRECTORS

ELECTION TERM

RETIREMENT OF DIRECTORS

PRESIDING DIRECTOR

BOARD MEETINGS

EXECUTIVE SESSIONS

THE COMMITTEES OF THE BOARD

MANAGEMENT DEVELOPMENT AND CEO SUCCESSION

TRANSACTIONS WITH NOVARTIS

BOARD COMPENSATION

EXPECTATIONS OF DIRECTORS

EVALUATING BOARD PERFORMANCE

RELIANCE ON MANAGEMENT AND OUTSIDE ADVICEQuickLinks
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Exhibit 10.520    
    

 
 

CHIRON CORPORATION FINANCE COMMITTEE CHARTER    
    

 
  ROLE

        The
Finance Committee (the "Committee") of the Board of Directors (the "Board") of Chiron Corporation ("Chiron") assists the Board in fulfilling its responsibility for oversight with
respect to Chiron's capital structure, financing and investment strategies and financial management. 

        The
chairperson of the Committee, acting in consultation with all committee members that are not otherwise affected by the issue or interest under consideration, and in consultation with
such other directors, representatives of management, counsel or other advisors as the chairperson may deem appropriate, may determine from time to time the scope of the Committee's authority under
this charter. 

 
 

MEMBERSHIP AND STRUCTURE

        The
Committee shall consist of at least three directors. At least a majority of the members of the Committee shall not be officers or employees of Chiron and shall be free of any
relationship that, in the determination of the Board, would interfere with his or her individual exercise of independent judgment. 

        Subject
to the requirements described above with respect to Committee membership, members of the Committee shall be appointed by the Board in accordance with the Governance Agreement,
dated as
of November 20, 1994, between Chiron and Novartis AG, as amended (as it may be further amended from time to time, the "Governance Agreement"). Committee members shall serve at the pleasure of
the Board. The chairperson shall be appointed by the full Board. 

        The
Committee shall meet in person or telephonically at least two times a year or more frequently when deemed necessary or desirable by the Committee or its chairperson, at such times
and places as the Committee determines. 

 
 

COMMUNICATIONS/REPORTING

        The
Committee may invite such members of management to its meetings as it may deem desirable. The Committee shall perform or cause to be performed and approved by the Committee annually
an evaluation of the performance of the Committee of its role under this charter, including the duties and responsibilities set forth below in Annex A. The evaluation shall include consideration of
possible amendments to this charter, including the duties and responsibilities set forth in Annex A. The performance evaluation may be conducted in such manner as the Committee deems appropriate, and
the result and recommendations shall be reported to the Board by the chairperson or any other member of the Committee. The chairperson shall report in a timely manner on Committee activities to the
full Board. 

 
 

EDUCATION

        Chiron
is responsible for providing the Committee with educational resources related to its role and duties and responsibilities, including those with respect to capitalization,
financings, investment strategies and any other material as may be requested by the Committee. 

 
 

AUTHORITY

        In
discharging its oversight role, duties and responsibilities, the Committee is empowered to cause and direct the investigation of any matter within its role, with full power to cause
independent counsel or other experts or advisors to be retained for this purpose. The Committee may require any officer or employee of Chiron or Chiron's outside lawyers to attend a meeting of the
Committee or to meet with any member of or consultants to the Committee and to provide any information requested by the 

 

Committee
or its member or consultants. The Committee shall have the full authority of the Board to discharge its duties and responsibilities, including the authority to select, retain, terminate and
approve the compensation and other terms of engagement of independent consultants, counsel, accountants or other experts or advisors as the Committee deems appropriate in its discretion, without
seeking approval of the Board or management. The Committee may, in its discretion, delegate all or a portion of its duties and responsibilities to a subcommittee of the Committee. The Committee shall
also have the resources that it deems necessary to discharge its duties and responsibilities. 

 
 

KEY DUTIES AND RESPONSIBILITIES

        The
key duties and responsibilities of the Committee in carrying out its role are delineated in Annex A to the Finance Committee Charter. Annex A will be reviewed annually, and updated
if necessary, to reflect changes in regulatory requirements, authoritative guidance and evolving oversight practices. As the compendium of Committee duties and responsibilities, Annex A will be
considered to be incorporated in, and a part of, this charter. 

        The
Committee may rely on the expertise and knowledge of management, consultants, counsel, advisors and experts in carrying out its oversight responsibilities. 

2

 
 

ANNEX A    
    

The
following are the key duties and responsibilities of the Committee: 

	1.
	To
review and make recommendations to the Board about policies and strategies related to Chiron's capital structure, capital formation and capital needs, including but not limited to:
(i) total capitalization and relative levels of debt and equity; (ii) the need for capital raising transactions (including both debt, equity, and hybrid securities); (iii) stock
repurchases and redemptions or repayments of debt; (iv) pricing related to the issuance or retirement of debt, equity and hybrid securities; and (v) the impact of capital structure on
debt ratings, including the relations and positioning with debt rating agencies (i.e. Moody's and Standard & Poor's).

	2.
	To
review and make recommendations to the Board concerning Chiron's dividend policy.

	3.
	To
review and make recommendations to the Board concerning the advisability of stock splits, reverse splits or similar transactions.

	4.
	To
review and make recommendations to the Board about Chiron's short- and long-term financing strategy, including but not limited to anticipated sources and uses of cash in
light of, among other things, capital expenditures and mergers, acquisitions and divestiture activities, and its needs for guaranties and credit supports.

	5.
	To
review and make recommendations to the Board about financial metrics and measurement options and its effect on capital allocation decisions.

	6.
	To
approve deviations to the approved annual capital budget of up to 5% in the aggregate, for projects not representing a strategic change of direction. To authorize the Chair of the
Committee to approve cost increases or deviations of up to 10% for individual board-approved capital projects on an urgent or as-needed basis.

	7.
	To
review and make recommendations to the Board about borrowings or issuance of debt guarantees by Chiron or any of its subsidiaries outside of existing Board-approved levels; and to
review and make recommendations to the Board about pricing of any new issuance of debt or equity securities by Chiron outside of previously-approved programs or guidelines.

	8.
	To
review and make recommendations to the Board about Chiron's cash investment strategy, including policy and control procedures and oversight of investment managers and to approve the
specific terms and conditions of any investments by Chiron or any of its subsidiaries of cash or cash equivalents outside of approved Investment Policy guidelines.

	9.
	To
review and make recommendations to the Board about Chiron's financial risk management policies, including but not limited to: (i) the adequacy of insurance;
(ii) policies concerning interest rate risk, foreign exchange risk and the use of derivatives and other hedges; (iii) policies concerning liquidity management; and (iv) policies
concerning counterparty risk.

	10.
	To
review and make recommendations to the Board about Chiron's tax planning strategies.

	11.
	To
review and make recommendations to the Board about Chiron's Investor Relations program.

	12.
	To
review and report to the Board on Chiron's compliance with any of the foregoing policies and practices. 

QuickLinks

Exhibit 10.520

CHIRON CORPORATION FINANCE COMMITTEE CHARTER

ROLE

MEMBERSHIP AND STRUCTURE

COMMUNICATIONS/REPORTING

EDUCATION

AUTHORITY

KEY DUTIES AND RESPONSIBILITIES

ANNEX A

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