Document:

EX-10.2

 Exhibit 10.2 

SEATTLE GENETICS, INC. 

LONG TERM INCENTIVE PLAN FOR ECHELON-1 

Effective Date: May 9, 2016 

1. PURPOSE. This Seattle Genetics, Inc. Long Term Incentive Plan for ECHELON-1 (the “Plan”) is
intended to increase stockholder value and the success of the Company by retaining and motivating selected Participants to achieve the Company’s objectives. The Plan goals are to be achieved by providing such Participants with cash and stock
incentive award opportunities, where payment or vesting, as applicable, of the Awards shall be based on FDA approval of a label expansion in the U.S. for ADCETRIS based on clinical trial data from ECHELON-1 (as hereafter defined). The Plan is
intended to permit the grant of Stock Awards that may qualify as “performance-based compensation” within the meaning of Section 162(m) of the Code. Capitalized terms used but not otherwise defined herein shall have the meanings set
forth in Section 2 of the Plan. 
 2. DEFINITIONS. 

(a) “Award” shall mean a Cash Award or a Stock Award that may be paid or granted, as applicable, to a
Participant under the Plan. 
 (b) “Award Value” shall mean the aggregate value of the Cash Award and Stock
Award that may be paid or granted, as applicable, to a Participant, expressed as a specific dollar amount, as determined by the Committee. 

(c) “Board” shall mean the Board of Directors of the Company. 

(d) “Cash Award” shall mean a cash bonus payment paid on the Payout Date. 

(e) “Certification Date” shall have the meaning set forth in Section 6(a) of the Plan. 

(f) “Code” shall mean the Internal Revenue Code of 1986, as amended, including any applicable regulations and
guidance thereunder. 
 (g) “Committee” shall mean the Compensation Committee of the Board or such other
committee of the Board that has been designated to administer programs that provide for compensation intended to qualify as “performance-based compensation” within the meaning of Section 162(m) of the Code. 

(h) “Common Stock” shall mean the common stock of the Company. 

(i) “Company” shall mean Seattle Genetics, Inc., a Delaware corporation. 

  
 1. 

 (j) “Covered Employee” shall have the meaning ascribed to such
term in Section 162(m)(3) of the Code. 
 (k) “ECHELON-1” shall mean the Company’s randomized,
open-label, phase 3 clinical trial investigating ADCETRIS plus adriamycin, vinblastine and dacarbazine versus adriamycin, vinblastine, bleomycin and dacarbazine as frontline therapy in patients with newly-diagnosed advanced classical Hodgkin
lymphoma. 
 (l) “ECHELON-1 sBLA” shall mean a supplemental Biologics License Application submitted to the
FDA by the Company seeking approval for the sale and marketing of ADCETRIS in the U.S. for a New Indication, which submission is based on clinical trial data from ECHELON-1. 

(m) “Effective Date” shall mean May 9, 2016. 

(n) “Eligible Employee” shall mean each employee of the Company or a Subsidiary who is based in the U.S. or
Canada. 
 (o) “Equity Incentive Plan” shall mean the Seattle Genetics, Inc. Amended and Restated 2007 Equity
Incentive Plan, as may be amended from time to time. 
 (p) “FDA” shall mean the U.S. Food and Drug
Administration. 
 (q) “FDA Milestone” shall mean the approval by the FDA of the sale and marketing of
ADCETRIS in the U.S. for a New Indication, which approval is based on clinical trial data from ECHELON-1. 
 (r) “FDA
Milestone Date” shall mean the date that the FDA Milestone occurs. 
 (s) “New Indication” shall
mean an indication not included in the FDA-approved labeling for ADCETRIS as of the Effective Date. 
 (t)
“Participant” shall mean an Eligible Employee who meets the eligibility requirements described in Section 4 of the Plan. 

(u) “Payout Date” shall mean the date on which Cash Awards are paid pursuant to Section 7 of the Plan.

 (v) “Performance-Based Compensation” shall mean compensation that is intended to qualify as
“performance-based compensation” within the meaning of Section 162(m) of the Code. 
 (w) “Performance
Period” shall mean the period of time commencing on (and including) May 9, 2016 and ending on (and including) December 31, 2019. 

(x) “Prorated Period” shall mean the period of time commencing on (and including) May 10, 2016 and ending
on (and including) December 31, 2016. 

  
 2. 

 (y) “Stock Award” shall mean a nonstatutory stock option granted
under the Equity Incentive Plan, which grant shall be subject to the terms of the Plan, the Equity Incentive Plan and the stock option agreement between the Company and the Participant. 

(z) “Subsidiary” means an entity in which the Company holds greater than 50% of the voting interests. 

(aa) “Vesting Date” shall have the meaning set forth in Section 4(e) of the Plan. 

3. ADMINISTRATION. The Plan shall be administered by the Committee consisting solely of two or more outside directors of
the Company who satisfy the requirements of Section 162(m) of the Code. The Committee shall have full authority to make rules and establish administrative procedures in connection with the Plan, to interpret the Plan and those rules and
procedures, to determine each Participant’s Award Value, to approve the granting of, or the payment of, as applicable, all of the Awards, and to make all other determinations, including factual determinations, and to take all other actions
necessary or appropriate for the proper administration of the Plan, including the delegation of such authority or power, where appropriate and consistent with applicable law; provided, however, that with respect to Covered Employees, the
Committee shall have final decision-making authority. All decisions, determinations, and interpretations by the Committee shall be final and binding on the Company and all Participants. 

4. ELIGIBILITY AND PARTICIPATION. 

(a) Current Employees in Good Standing. Absent any determination by the Committee to the contrary, each Eligible Employee who is in good
standing (and not on a performance improvement plan) as of May 9, 2016, as determined by the Committee in its sole discretion, shall automatically be deemed a Participant as of such date and shall be eligible to be paid or granted, as
applicable: 
 (i) a Cash Award on the Payout Date, in an amount to be determined in accordance with Sections 5 and 6 of the Plan,
subject to the terms of Section 4(d) of the Plan; and 
 (ii) a Stock Award on May 9, 2016, with (x) the number of
shares of Common Stock subject to such Stock Award to be determined in accordance with Section 5 of the Plan and (y) an exercise price (per share) equal to the closing sales price of the Common Stock on May 9, 2016. 

(b) Current Employees on a Performance Improvement Plan. Absent any determination by the Committee to the contrary, each Eligible
Employee who is on a performance improvement plan as of May 9, 2016, as determined by the Committee in its sole discretion, shall not be eligible to participate in the Plan; provided, however, that if such Eligible Employee successfully
improves his or her performance during the Prorated Period, such Eligible Employee shall automatically be deemed a Participant as of the first day he or she is no longer on a performance improvement plan and shall be eligible to be paid or granted,
as applicable: 
 (i) a Cash Award on the Payout Date, in an amount to be determined in accordance with Sections 5 and 6 of the
Plan, subject to the terms of Section 4(d) of the Plan; and 

  
 3. 

 (ii) a Stock Award on January 3, 2017, with (x) the number of shares of Common
Stock subject to such Stock Award to be determined in accordance with Section 5 of the Plan and (y) an exercise price (per share) equal to the closing sales price of the Common Stock on either May 9, 2016 or January 3, 2017,
whichever is higher; 
 provided, however, that in each case, the Award Value applicable to such Participant shall be automatically prorated (by
multiplying such Award Value by a fraction, the numerator of which is the number of days such Participant is not on a performance improvement plan during the Prorated Period and the denominator of which is the total number of days during the
Prorated Period). 
 (c) Newly Hired Employees. Absent any determination by the Committee to the contrary, each Eligible Employee who
is newly hired by the Company or a Subsidiary during the Prorated Period shall automatically be deemed a Participant as of his or her first day of employment with the Company or the Subsidiary and shall be eligible to be paid or granted, as
applicable: 
 (i) a Cash Award on the Payout Date, in an amount to be determined in accordance with Sections 5 and 6 of the Plan,
subject to the terms of Section 4(d) of the Plan; and 
 (ii) a Stock Award on January 3, 2017, with (x) the number
of shares of Common Stock subject to such Stock Award to be determined in accordance with Section 5 of the Plan and (y) an exercise price (per share) equal to the closing sales price of the Common Stock on either May 9, 2016 or
January 3, 2017, whichever is higher; 
 provided, however, that in each case, the Award Value applicable to such Participant shall be
automatically prorated (by multiplying such Award Value by a fraction, the numerator of which is the number of days such Participant is employed by the Company or a Subsidiary during the Prorated Period and the denominator of which is the total
number of days during the Prorated Period). 
 (d) Eligibility for Cash Awards. In order to be eligible for payment of a Cash Award,
a Participant must be (i) actively employed by the Company or a Subsidiary on the Payout Date and (ii) not on a performance improvement plan as of the Payout Date. All Cash Awards shall be fully vested on the Payout Date. If the FDA
Milestone does not occur on or prior to the last day of the Performance Period, then no Participant shall be eligible to receive a Cash Award. 

(e) Vesting of Stock Awards. Each Stock Award granted to a Participant shall be unvested on the date of grant and shall vest in four
(4) equal tranches on the first, second, third and fourth anniversaries of the FDA Milestone Date (each, a “Vesting Date”), provided that the Participant does not incur a Termination of Employment (as defined in the
Equity Incentive Plan) through the applicable Vesting Date. If a Participant incurs a Termination 

  
 4. 

 
of Employment prior to any Vesting Date, then all shares of Common Stock subject to the Participant’s Stock Award that are unvested as of the Participant’s date of termination shall be
forfeited by the Participant on such termination date. If the FDA Milestone does not occur on or prior to the last day of the Performance Period, then all Stock Awards shall be forfeited by Participants on the last day of the Performance Period.

 5. DETERMINATION OF AWARD VALUES. 

(a) In General. On or prior to May 9, 2016, the Committee shall establish a table containing Award Values for each job level tier
of Participants. Subject to Sections 4(b) and 4(c) of the Plan: 
 (i) the amount of cash subject to each Participant’s Cash
Award shall be equal to 25% of the Award Value applicable to such Participant; and 
 (ii) the number of shares of Common Stock
subject to each Participant’s Stock Award shall be equal to the following: 
 (1) for individuals who are Participants as of
May 9, 2016, such number shall be equal to: (the Award Value applicable to such Participant x 0.75) divided by (the closing sales price of the Common Stock on May 9, 2016 x 0.50); and 

(2) for individuals who become Participants during the Prorated Period, such number shall be equal to (the Award Value applicable to
such Participant x 0.75) divided by (the closing sales price of the Common Stock on May 9, 2016 or January 3, 2017, whichever is higher, x 0.50). 

(b) Section 162(m) Requirements for Stock Awards – Maximum Stock Award. As required by Section 3(b) of the Equity
Incentive Plan and in accordance with Section 162(m) of the Code, in no event may a Stock Award be granted under the Plan to a Participant who is a Covered Employee such that the number of shares of Common Stock subject to such Stock Award
would exceed, together with any other equity awards granted under the Equity Incentive Plan, 1,000,000 shares of Common Stock in the applicable calendar year. 

6. CERTIFICATION AND DETERMINATION OF AWARD
PAYMENTS. 
 (a) Certification. The Committee shall certify in writing (which may be by approval of the minutes in
which the certification was made) whether the FDA Milestone has been achieved as soon as administratively practicable after the earlier of (i) the end of the Performance Period and (ii) the FDA Milestone Date (such date, the
“Certification Date”). In order for any Cash Awards to be paid on the Payout Date and for any Stock Awards to be eligible to vest on any Vesting Date, the Committee must (i) certify on the Certification Date that the FDA
Milestone has been achieved and (ii) approve the payment of such Cash Awards and eligibility for vesting of such Stock Awards. 

(b) Changes to Awards. At any time on or prior to the Certification Date, the Committee may take any of the following actions based on
a Participant’s individual performance, special circumstances related to the FDA submission of the ECHELON-1 sBLA, 

  
 5. 

 
value generated for the Company and any other factors, as determined by the Committee in its sole discretion: 

(i) reduce the amount of cash subject to a Participant’s Cash Award (notwithstanding a determination by the Committee that the
FDA Milestone has been satisfied); and 
 (ii) adjust any other features of the Plan (other than the number of shares of Common
Stock subject to, or the exercise price of, a Participant’s Stock Award); provided, however, that no such adjustment may be made with respect to any Awards payable or granted to a Participant who is a Covered Employee if such adjustment
would result in a failure of the Participant’s Stock Award to be Performance-Based Compensation. 
 7. PAYMENT
OF CASH AWARDS. Subject to Section 4(d) of the Plan, payment of Cash Awards to Participants shall be made as soon as administratively practicable following the Certification Date, and no later
than March 15 of the year following the year in which the FDA Milestone Date occurs; provided, however, that if payment of a Cash Award is accelerated pursuant to Section 8 of the Plan, then with respect to such Cash Award, such
accelerated payment date shall be the “Payout Date” for purposes of the Plan. Payroll and other taxes shall be withheld as determined by the Company or a Subsidiary. 

8. CHANGE IN CONTROL. Notwithstanding any provision of the Plan to the contrary, in the
event of a Change in Control (as defined in the Equity Incentive Plan), (i) each Participant’s Stock Award, to the extent outstanding as of the date of the Change in Control, shall be treated in the manner set forth in Section 13(c)
of the Equity Incentive Plan, as in effect on the Effective Date of the Plan, and (ii) each Participant’s Cash Award, to the extent not paid as of the date of the Change in Control, shall be treated in a manner equivalent to the treatment
of the Participant’s Stock Award upon the Change in Control, as determined by the Committee in its sole discretion. 
 9.
NO RIGHT TO EMPLOYMENT OR AWARD. Selection to participate in the Plan shall not confer upon any employee any right with respect to continued employment by
the Company or a Subsidiary or continued participation in the Plan. Furthermore, the Company and each Subsidiary reaffirms its at-will relationship with its employees and expressly reserves the right at any time to terminate the employment of a
Participant free from any liability or claim for benefits pursuant to the Plan, except as provided under this Plan or other written plan adopted by the Company or a Subsidiary or written agreement between the Company or a Subsidiary and the
Participant. 
 10. DISCRETION OF COMPANY AND COMMITTEE.
Any decision made or action taken by the Company or by the Committee arising out of or in connection with the creation, amendment, construction, administration, interpretation or effect of the Plan shall be within the sole and absolute discretion of
the Company or the Committee, as the case may be, and shall be conclusive and binding upon all persons. To the maximum extent possible, no member of the Committee shall have any liability for actions taken or omitted under the Plan by such member or
any other person. 

  
 6. 

 11. NO FUNDING OF PLAN.
Neither the Company nor any Subsidiary shall be required to fund or otherwise segregate any cash or any other assets which may at any time be paid to Participants under the Plan. The Plan shall constitute an “unfunded” plan of the Company.
The Company shall not, by any provisions of the Plan, be deemed to be a trustee of any property, and any rights of any Participant shall be no greater than those of a general unsecured creditor or stockholder of the Company, as the case may be. 

12. NON-TRANSFERABILITY OF BENEFITS AND
INTERESTS. Except as expressly provided by the Committee, no benefit payable under the Plan shall be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance or charge, any such attempted
action shall be void, and no such benefit shall be in any manner liable for or subject to debts, contracts, liabilities, engagements or torts of any Participant. This Section 12 shall not apply to an assignment of a contingency or payment due
(i) after the death of a Participant to the deceased Participant’s legal representative or beneficiary, or (ii) after the disability of a Participant to the disabled Participant’s personal representative. 

13. GOVERNING LAW. All questions pertaining to the construction, regulation, validity and effect of the
provisions of the Plan shall be determined in accordance with the laws of the State of Washington. 
 14.
NON-EXCLUSIVITY. The Plan does not limit the authority of the Company, the Board or the Committee, or any current or future Subsidiary of the Company to grant awards or authorize any other compensation to any person
under any other plan or authority, other than that specifically prohibited herein. 
 15.
SECTION 162(M) CONDITIONS; BIFURCATION OF PLAN. It is the intent of the Company that the Plan, and all payments of Stock Awards made hereunder,
satisfy and be interpreted in a manner that in the case of Participants who are Covered Employees qualify as Performance-Based Compensation. Any provision, application or interpretation of the Plan inconsistent with this intent to satisfy the
requirements of Section 162(m) of the Code shall be disregarded. However, notwithstanding anything to the contrary in the Plan, the provisions of the Plan may at any time be bifurcated by the Board or the Committee in any manner so that certain
provisions of the Plan (or required in order) to satisfy the applicable requirements of Section 162(m) of the Code are only applicable to Covered Employees. 

16. AMENDMENT OR TERMINATION. The Board and the Committee each reserve the right at any
time to make any changes in the Plan as it may consider desirable or may suspend, discontinue or terminate the Plan at any time. 

  
 7.EX-10.3

 Exhibit 10.3 

SEATTLE GENETICS, INC. 

AMENDED & RESTATED 2007 EQUITY INCENTIVE PLAN 

STOCK OPTION AGREEMENT 

THIS STOCK OPTION AGREEMENT (the “Agreement”) dated %%OPTION_DATE,‘MM/DD/YYYY’%-% (“Grant Date”) between
Seattle Genetics, Inc., a Delaware corporation (the “Company”), and %%FIRST_NAME%-% %%MIDDLE_NAME%-% %%LAST_NAME%-% (“Optionee”), is entered into as follows: 

WITNESSETH: 
 WHEREAS, the
Company has established the Amended & Restated 2007 Equity Incentive Plan (the “Plan”) and the Long Term Incentive Plan for ECHELON-1 (the “LTIP”); and 

WHEREAS, the Compensation Committee of the Board of Directors of the Company or its delegates (the “Committee”) has determined that
Optionee shall be granted an option under the Plan as hereinafter set forth; 
 The parties hereby agree that the Company grants, effective
as of the Grant Date, Optionee a Nonstatutory Stock Option (this “Option”) to purchase %%TOTAL_SHARES_GRANTED,‘999,999,999’%-% shares of its $0.001 par value Common Stock (the “Shares”) upon the terms and
conditions set forth in this Agreement. 
 1. Plan Award. This Option is granted under and pursuant to the Plan and the
LTIP and is subject to each and all of the provisions thereof. 
 2. Exercise Price. The exercise price applicable to this
Option (meaning, the price Optionee must pay in order to purchase any Shares hereunder) shall be %%OPTION_PRICE,’$999,999,999.99’%-% per Share. 

3. Vesting and Exercise of Option. Optionee shall vest in and earn the right to exercise this Option in accordance with the
terms set forth in Section 4(e) of the LTIP. By accepting the grant of this Option, Optionee acknowledges and agrees that the terms set forth in this Section 3 and in Section 4(e) of the LTIP supersede any contrary terms regarding the vesting
of this Option set forth in any notice or other communication that Optionee receives from, or that is displayed by, E*TRADE or other third party designated by the Company. This award may be exercised in whole or in part. 

4. Expiration. This Option will expire ten (10) years from the Grant Date, unless sooner terminated or canceled in
accordance with the provisions of the Plan or LTIP. This means that (subject to the continuing service requirement set forth in Section 3 above and subject to earlier termination upon certain other events as set forth in the Plan or LTIP) this
Option must be 

  
 1 

 
exercised, if at all, on or before %%EXPIRE_DATE_PERIOD1,‘MM/DD/YYYY’%-% (the “Expiration Date”). If this Option expires on a stock exchange holiday or weekend
day, this Option will expire on the last trading day prior to the holiday or weekend. Optionee shall be solely responsible for exercising this Option, if at all, prior to its Expiration Date. The Company shall have no
obligation to notify Optionee of this Option’s expiration. 
 5. Exercise Mechanics. This Option may be exercised by
delivering to the Stock Plan Administrator at the Company’s head office a written or electronic notice stating the number of Shares as to which the Option is exercised or by any other method the Committee has approved. The notice must be
accompanied by the payment of the full Option exercise price of such Shares. Exercise shall not be deemed to have occurred unless and until Optionee has delivered to the Company (or its authorized representative) an approved notice of exercise, full
payment of the exercise price for the Shares being exercised and payment of any applicable withholding taxes in accordance with Section 8 below. Payment of the Option exercise price may be in cash (including check or wire transfer); through an
approved cashless-brokered exercise program, with shares of the Company’s Common Stock (subject to the Company’s discretion to withhold approval for such payment method at any time); cashless “net exercise” arrangement pursuant
to which the Company will reduce the number of Shares issued upon exercise by the largest whole number of Shares having an aggregate fair market value that does not exceed the aggregate exercise price, provided the Company shall accept a cash or
other payment from Optionee to the extent of any remaining balance of the exercise price not satisfied by such reduction in the number of whole Shares to be issued or a combination thereof to the extent permissible under Applicable Law; provided,
however, that any permitted method of payment shall be in strict compliance with all procedural rules established by the Committee. 
 6. Termination
of Employment. All rights of Optionee in this Option, to the extent that it has not previously become vested and been exercised, shall terminate upon Optionee’s Termination of Employment except as set forth in this
Section 6. The portion of the Option that relates to any Shares that were unvested and unexercisable as of the date of Optionee’s Termination of Employment shall terminate and expire effective immediately upon such date. With respect
to the vested and exercisable portion of the Option, and subject to the final sentence of this Section 6: 
 (i) In the event of Termination
of Employment other than as a result of Optionee’s death or disability, Optionee shall have three months from the date of such Termination to exercise the Option as to the Shares subject to the Option that were vested and exercisable as of the
date of Termination of Employment; provided that if during any part of such three month period, the Option is not exercisable because the issuance of the Shares would violate the registration requirements under the Securities Act, the Option shall
not expire until the Option shall have been exercisable for an aggregate of three months after the date of Termination of Employment; provided further that if during any part of such three month period, the Shares issued upon exercise of the Option
may not be sold because Optionee has material nonpublic information regarding the Company or is otherwise subject to a trading blackout period under the Company’s Insider Trading Policy, the Option shall not expire until Optionee shall have had
an aggregate of three months after the date of Termination of Employment during which Optionee can sell the Shares without being subject to such restrictions arising under insider trading laws or Company policy; and provided further that
notwithstanding the foregoing, in no event may this Option be exercised more than one year after the date of Termination of Employment; 

  
 2 

 (ii) In the event of Termination of Employment as a result of Optionee’s disability
(including a Total and Permanent Disability), Optionee shall have 12 months to exercise the Option as to the Shares subject to the Option that were vested and exercisable as of the date of Termination of Employment; and 

(iii) In the event of Termination of Employment as a result of Optionee’s death or in the event of Optionee’s death within 30 days
following Optionee’s Termination of Employment, Optionee shall have six months following the Optionee’s death to exercise the Option as to the Shares subject to the Option that were vested and exercisable as of the date of death or, if
earlier, the date of Termination of Employment. 
 Notwithstanding the above, in no event may an Option be exercised, even as to vested and otherwise
exercisable Shares, after the Expiration Date set forth in Section 4 above. 
 7. Transferability. This Option generally is not
transferable by Optionee otherwise than by will or the laws of descent and distribution, and is exercisable only by Optionee during Optionee’s lifetime; provided, however, that if expressly provided by the Committee, this Option may be
transferred by instrument to an inter vivos or testamentary trust in which the Option is to be passed to beneficiaries upon the death of the trustor (settlor) or by gift or pursuant to domestic relations orders to “Immediate Family
Members” (as defined below) of the Optionee. “Immediate Family” means any child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law,
daughter-in-law, brother-in-law, or sister-in-law (including adoptive relationships), a trust in which these persons have more than fifty percent of the beneficial interest, a foundation in which these persons (or the Optionee) control the
management of assets, and any other entity in which these persons (or the Optionee) own more than fifty percent of the voting interests. 
 8. Tax
Matters. Regardless of any action the Company or Optionee’s employer (the “Employer”) takes with respect to any or all income tax, social security, payroll tax, payment on account or other tax-related
withholding (“Tax-Related Items”), Optionee acknowledges and agrees that the ultimate liability for all Tax-Related Items legally due by him or her is and remains Optionee’s responsibility and that the Company and/or the Employer
(i) make no representations nor undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of this Option, including the grant, vesting or exercise of this Option, the subsequent sale of Shares acquired pursuant
to such exercise and receipt of any dividends; and (ii) do not commit to structure the terms or the grant or any aspect of this Option to reduce or eliminate Optionee’s liability for Tax-Related Items. Prior to the exercise of this
Option, Optionee shall pay or make adequate arrangements satisfactory to the Company and/or the Employer to withhold all applicable Tax-Related Items legally payable by Optionee from Optionee’s wages or other cash compensation paid to Optionee
by the Company and/or the Employer or from proceeds of the sale of Shares. Alternatively, or in addition, if permissible under Applicable Laws, the Company may (but shall not be obligated to): (1) sell or arrange for the sale of
Shares that Optionee acquires to meet the withholding obligation for Tax-Related 

  
 3 

 
Items, and/or (2) withhold in Shares, provided that the Company only withholds the amount of Shares necessary to satisfy the minimum withholding amount (or such other amount as may be
permitted while still avoiding classification of this Option as a liability for financial accounting purposes). In addition, Optionee shall pay the Company or the Employer any amount of Tax-Related Items that the Company or the Employer may be
required to withhold as a result of Optionee’s participation in the Plan or Optionee’s purchase of Shares that cannot be satisfied by the means previously described, and if Optionee does not otherwise so pay the Company or the Employer,
then the Company or the Employer may withhold amounts from Optionee’s cash compensation to satisfy such withholding obligation. The Company may refuse to honor the exercise and refuse to deliver the Shares if Optionee fails to comply with
Optionee’s obligations in connection with the Tax-Related Items (including if Optionee’s cash compensation is not sufficient to satisfy such obligations). Although Optionee is being provided in the Plan prospectus a description of
certain tax consequences of transactions related to the Option, Optionee remains responsible for all such tax consequences and the Company shall not be deemed to provide any individual tax advice with respect thereto.

9. Optionee Acknowledgements. By accepting the grant of this Option, Optionee acknowledges and agrees that the Plan and LTIP
are established voluntarily by the Company, they are discretionary in nature and may be modified, amended, suspended or terminated by the Company at any time. Optionee acknowledges that all decisions with respect to future grants, if any, will
be at the sole discretion of the Company. Optionee’s participation in the Plan and LTIP shall not create a right to further employment with Employer and shall not interfere with the ability of Employer to terminate Optionee’s
employment relationship at any time with or without cause and it is expressly agreed and understood that employment is terminable at the will of either party, insofar as permitted by law. Optionee agrees that this Option is an extraordinary
item that does not constitute compensation of any kind for services of any kind rendered to the Company or the Employer prior to the Grant Date, and is outside the scope of Optionee’s employment contract, if any. This Option is not
part of normal or expected compensation or salary for any purposes, including, but not limited to calculating any severance, resignation, termination, redundancy, end-of-service payments, bonuses, long-service awards, pension or retirement benefits
or similar payments insofar as permitted by law. In the event that Optionee is not an employee of the Company, this Option grant will not be interpreted to form an employment contract or relationship with the Company, the Employer or any
Subsidiary or Affiliate of the Company. Optionee acknowledges that the future value of the underlying Shares is unknown, may increase or decrease in the future, and cannot be predicted with certainty. In consideration of the grant of this
Option, no claim or entitlement to compensation or damages shall arise from termination of this Option or diminution in value of this Option or Shares purchased through exercise of this Option resulting from Optionee’s Termination of Employment
by the Company or the Employer (for any reason whatsoever and whether or not in breach of Applicable Laws). 
 10. Data
Transfer. Optionee explicitly and unambiguously consents to the collection, use and transfer, in electronic or other form, of Optionee’s personal data as described in this document by and among, as applicable, the
Employer, and the Company and its Subsidiaries and Affiliates for the exclusive purpose of implementing, administering and managing Optionee’s participation in the Plan and the LTIP. Optionee understands that the Company, its Affiliates,
its 

  
 4 

 
Subsidiaries and the Employer hold certain personal information about Optionee, including, but not limited to, name, home address and telephone number, date of birth, social security number (or
other identification number), salary, nationality, job title, any shares of stock or directorships held in the Company, details of all options or any other entitlement to shares of stock awarded, canceled, purchased, exercised, vested, unvested or
outstanding in Optionee’s favor for the purpose of implementing, managing and administering the Plan and the LTIP (“Data”). Optionee understands that the Data may be transferred to any third parties assisting in the
implementation, administration and management of the Plan and the LTIP, that these recipients may be located in Optionee’s country or elsewhere and that the recipient country may have different data privacy laws and protections than
Optionee’s country. Optionee may request a list with the names and addresses of any potential recipients of the Data by contacting the Stock Plan Administrator. Optionee authorizes the recipients to receive, possess, use, retain and
transfer the Data, in electronic or other form, for the purposes of implementing, administering and managing Optionee’s participation in the Plan and the LTIP, including any requisite transfer of such Data, as may be required to a broker or
other third party with whom Optionee may elect to deposit any Shares acquired upon the exercise of this Option. Optionee understands that Data will be held only as long as is necessary to implement, administer and manage participation in the
Plan or the LTIP. Optionee may, at any time, view Data, request additional information about the storage and processing of the Data, require any necessary amendments to the Data or refuse or withdraw the consents herein, in any case without
cost, by contacting the Stock Plan Administrator in writing. Optionee understands that refusing or withdrawing consent may affect Optionee’s ability to participate in the Plan and the LTIP. For more information on the consequences of
refusing to consent or withdrawing consent, Optionee may contact the Stock Plan Administrator at the Company. 
 11. Copies of Plan and LTIP
Materials. Optionee acknowledges that Optionee has received copies of the Plan, the Plan prospectus and the LTIP from the Company and agrees to receive stockholder information, including copies of any annual report, proxy
statement and periodic report, from the Company’s website at http://www.seattlegenetics.com/news/index.htm. Optionee acknowledges that copies of the Plan, Plan prospectus, Plan information, LTIP and stockholder information are also
available upon written or telephonic request to the Stock Plan Administrator. 
 12. Entire Agreement; Plan Controls. The
Plan and LTIP are incorporated herein by reference. The Plan, LTIP and this Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety and prevail over all prior undertakings
and agreements of the Company and Optionee with respect to the subject matter hereof, and may be modified or amended at any time without Optionee’s consent. This Agreement is governed by the laws of the state of Delaware. In the event of any
conflict between the terms and provisions of the Plan, LTIP and this Agreement, the Plan terms and provisions shall govern. Capitalized terms used but not defined in this Agreement have the meanings assigned to them in the Plan. Certain other
important terms governing this Agreement are contained in the Plan and LTIP. 

  
 5 

 Optionee’s electronic acceptance shall signify Optionee’s execution of this Agreement and understanding
that this Option is granted and governed under the terms and conditions set forth herein. 
  

	
	SEATTLE GENETICS, INC.
	
	

	Clay B. Siegall
	President & CEO

 PLEASE PRINT AND RETAIN THIS AGREEMENT FOR YOUR RECORDS 

  
 6

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