Document:

Second Amendment to Amended and Restated Credit Agreement

 Exhibit 10.4 
 SECOND AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT 
 This
SECOND AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”) is dated as of January 31, 2012 and is entered into by and among MODUSLINK GLOBAL SOLUTIONS, INC., a Delaware corporation
(“Holdings”); each of the Domestic Subsidiaries of Holdings signatory hereto (together with Holdings, the “Borrowers”); BANK OF AMERICA, N.A., as a Lender and the L/C Issuer; SILICON VALLEY
BANK, as a Lender; and HSBC BANK USA, NATIONAL ASSOCIATION, as a Lender; and acknowledged and agreed to by BANK OF AMERICA, N.A., in its capacity as Administrative Agent (the “Administrative Agent”).

 WHEREAS, the Borrowers, the Administrative Agent, the Lenders, and the L/C Issuer entered into that certain Amended and
Restated Credit Agreement, dated as of February 1, 2010 (as such agreement has been amended, supplemented, or otherwise modified to date, the “Credit Agreement”); 

WHEREAS, the Borrowers have requested that the Administrative Agent and the Lenders agree to amend certain provisions of the Credit
Agreement as described herein, subject to the terms and conditions set forth herein; and 
 WHEREAS, the Administrative Agent
and the Lenders have agreed to amend the Credit Agreement as hereinafter set forth, subject to the terms and conditions set forth herein. 
 NOW, THEREFORE, intending to be legally bound hereby and in consideration of the premises and for other good and valuable consideration (the receipt and sufficiency of which are hereby acknowledged), the
parties hereto hereby agree as follows: 
 ARTICLE I 

DEFINITIONS 
 Initially capitalized terms used but not otherwise defined in this Amendment have the respective meanings set forth in the Credit Agreement, as amended hereby. 

ARTICLE II 

AMENDMENTS TO CREDIT AGREEMENT 
 2.01. New Definitions. The following definitions are hereby added to Section 1.02 of the Credit Agreement and inserted in the appropriate alphabetical order therein: 

“Reorganizational Charges” means one-time charges accrued in the fiscal year ending as of July 31,
2012 and related to restructuring initiatives of the Borrowers and their Subsidiaries in such fiscal year. 

“Second Amendment” means that certain Second Amendment to Amended and Restated Credit Agreement by and
among the Administrative Agent, the Lenders, the L/C Issuer, and the Borrowers dated as of January __, 2012. 

 2.02. Amended Definitions. 

(a) The phrase “the aggregate amount of all Receivables” is hereby deleted from the definition of “Eligible
Receivables” appearing in Section 1.02 of the Credit Agreement and replaced by the phrase “the aggregate amount of all accounts receivable.” 
 (b) Section 1.02 of the Credit Agreement is hereby amended by replacing the definition of “Consolidated EBITDA” contained therein with the following definition: 

“Consolidated EBITDA” means, at any date of determination, an amount equal to Consolidated Net Income of
the Borrowers and their Subsidiaries for the most recently completed Measurement Period plus (a) the following, without duplication, to the extent deducted in calculating such Consolidated Net Income: (i) Consolidated Interest
Charges, (ii) the provision for Federal, state, local and foreign income taxes payable, (iii) depreciation and amortization expense, (iv) all Net Non-Cash Restructuring Charges recognized by Borrowers and their Subsidiaries during
such Measurement Period (to the extent calculations of the Net Non-Cash Restructuring Charges for such Measurement Period result in a positive number), (v) unrealized, non-cash foreign exchange losses, (vi) realized foreign exchange losses
incurred after January 1, 2012, (vii) an amount equal to all non-cash goodwill impairment charges recognized by Borrowers and their Subsidiaries, (viii) adjustments for equity investments held by CMG@Ventures Entities or from
impairment charges on Investments, (ix) non-cash stock compensation expenses, (x) non-cash intangible asset impairment charges recognized by Borrowers and their Subsidiaries, and (xi) up to $11,000,000 of Reorganizational Charges
recognized by Borrowers and their Subsidiaries during the fiscal year ending on July 31, 2012; minus (b) the following to the extent included in calculating such Consolidated Net Income: (i) Federal, state, local and foreign
income tax credits, (ii) unrealized, non-cash foreign exchange gains, (iii) realized foreign exchange gains accrued after January 1, 2012, and (iv) adjustments for equity investments held by CMG@Ventures Entities or from gains on
Investments. 
 (c) Section 1.02 of the Credit Agreement is hereby amended by replacing the definition of “Loan
Documents” contained therein with the following definition: 
 “Loan Documents” means,
collectively, (a) this Agreement, (b) the Revolving Credit Notes, (c) the Collateral Documents, (d) each Issuer Document, (e) the First Amendment, and (f) the Second Amendment, as each may be amended or otherwise
modified from time to time pursuant to the terms thereof and hereof. 
 2.03. Dispositions. Section 7.05 of the Credit
Agreement is hereby amended and restated in its entirety to read as follows: 
 “7.05 Dispositions.
Make any Disposition or enter into any agreement to make any Disposition, except: 
 (a) Dispositions of obsolete
or worn out property, whether now owned or hereafter acquired, in the ordinary course of business; 
 (b)
Dispositions of inventory in the ordinary course of business; 
 (c) Dispositions of Excluded Equity Interests,
equipment or real property; 

  
 2 

 (d) Dispositions of property by any Borrower to another Borrower;

 (e) Dispositions of CMG@Ventures Entities or their respective Investments; 

(f) Dispositions permitted by Section 7.04; 

(g) Dispositions of cash Investments to the extent consistent with and permitted by the Cash Investment Policy, provided
that (i) at the time of any such Disposition, no Default shall exist or would result from such Disposition, (ii) at the time of any such Disposition, the property Disposed of in reliance on this clause (g) is not subject to the
exclusive control of the Administrative Agent or any Lender pursuant to any Collateral Document, and (iii) the purchase price for such property Disposed of shall be paid to the Borrowers or such Subsidiaries solely in cash; and 

(h) Dispositions of accounts receivable that are not Eligible Receivables and with respect to which the Account Debtor is
not a resident or citizen of or otherwise located in the United States of America, provided that (i) at the time of any such Disposition, no Default shall exist or would result from such Disposition, (ii) such Disposition shall be made on
a basis that is non-recourse to any Loan Party, and (iii) the purchase price for such property Disposed of shall be paid to the Borrowers or such Subsidiaries solely in cash, 

provided, however, that any Disposition pursuant to Section 7.05(a) through Section 7.05(h) shall be for
fair market value.” 
 2.04. Financial Covenants. 

(a) Clauses (b) and (c) of Section 7.11 of the Credit Agreement are hereby amended and restated in their
entirety to read as follows: 
 “ (b) [RESERVED] 

(c) Minimum Global Cash. Maintain a balance of cash (as determined under GAAP), cash equivalents (as determined
under GAAP), and Cash Equivalents of less than $75,000,000 (on a consolidated basis).” 
 (b) A new clause
(d) is hereby added to Section 7.11 of the Credit Agreement to read in its entirety as follows: 

“ (d) Minimum Consolidated EBITDA. Maintain Consolidated EBITDA of less than the amounts indicated for each
period specified below: 

  
 3 

					
	 Period
	  	Consolidated
EBITDA	 
	 From February 1, 2011 through January 31, 2012
	  	$	9,097,000	  
	 From May 1, 2011 through April 30, 2012
	  	$	8,810,000	  
	 From August 1, 2011 through July 31, 2012
	  	$	14,182,000	  
	 From November 1, 2011 through October 31, 2012
	  	$	14,182,000	  

 ” 
 2.05.
Cross-Default. Section 8.01(e) of the Credit Agreement is hereby amended and restated in its entirety to read as follows: 
 “ (e) Cross-Default. (i) Any Loan Party or any Subsidiary thereof (A) fails to make any payment when due (whether by scheduled maturity, required prepayment, acceleration, demand, or
otherwise) in respect of any Indebtedness or Guarantee (other than Indebtedness hereunder and Indebtedness under Swap Contracts) having an aggregate principal amount (including undrawn committed or available amounts and including amounts owing to
all creditors under any combined or syndicated credit arrangement) of more than the Threshold Amount, or (B) fails to observe or perform any other agreement or condition relating to any such Indebtedness or Guarantee or contained in any
instrument or agreement evidencing, securing or relating thereto, or any other event occurs, the effect of which default or other event is to cause, or to permit the holder or holders of such Indebtedness or the beneficiary or beneficiaries of such
Guarantee (or a trustee or agent on behalf of such holder or holders or beneficiary or beneficiaries) to cause, with the giving of notice if required, such Indebtedness to be demanded or to become due or to be repurchased, prepaid, defeased or
redeemed (automatically or otherwise), or an offer to repurchase, prepay, defease or redeem such Indebtedness to be made, prior to its stated maturity, or such Guarantee to become payable or cash collateral in respect thereof to be demanded;
(ii) there occurs under any Swap Contract an Early Termination Date (as defined in such Swap Contract) resulting from (A) any event of default under such Swap Contract as to which a Loan Party or any Subsidiary thereof is the Defaulting
Party (as defined in such Swap Contract) or (B) any Termination Event (as so defined) under such Swap Contract as to which a Loan Party or any Subsidiary thereof is an Affected Party (as so defined) and, in either event, the Swap Termination
Value owed by such Loan Party or such Subsidiary as a result thereof is greater than the Threshold Amount; or (iii) there occurs any default under any receivables purchase agreement concerning the purchase of the accounts receivable of any Loan
Party, and such default continues for thirty (30) calendar days; or” 

  
 4 

 2.06. Compliance Certificate. Exhibit C of the Credit Agreement is hereby amended and restated
in its entirety as set forth on Exhibit C attached hereto. 
 ARTICLE III 

REPRESENTATIONS AND WARRANTIES 
 Each Borrower hereby represents and warrants to the Administrative Agent and the Lenders, as of the date hereof, as follows: 
 3.01. Representations and Warranties. After giving effect to this Amendment, the representations and warranties set forth in the Credit Agreement, including without limitation those set
forth in Article V thereof, and in each other Loan Document are true and correct on and as of the date hereof with the same effect as if made on and as of the date hereof, except to the extent such representations and warranties expressly relate
solely to an earlier date. Each Borrower certifies, represents, and warrants to the Administrative Agent and the Lenders that the security interests granted to the Administrative Agent pursuant to the Collateral Documents are in full force and
effect and constitute valid, perfected, first-priority security interests in the Collateral described therein. 
 3.02. No
Defaults. After giving effect to this Amendment, each of the Borrowers is in compliance with all terms and conditions of the Credit Agreement and the other Loan Documents on its part to be observed and performed and no Default or Event of
Default has occurred and is continuing. 
 3.03. Authority and Pending Actions. The execution, delivery, and performance by each
Borrower of this Amendment has been duly authorized by each such Borrower and there is no action pending or any judgment, order, or decree in effect which is likely to restrain, prevent, or impose materially adverse conditions upon the performance
by any Borrower of its obligations under the Credit Agreement or the other Loan Documents. 
 3.04. Enforceability. This Amendment
constitutes the legal, valid, and binding obligation of each Borrower, enforceable against each such Borrower in accordance with its terms, except to the extent that enforceability may be limited by applicable bankruptcy, insolvency, moratorium,
reorganization, or other similar laws affecting the enforcement of creditors’ rights or by the effect of general equitable principles. 

3.05. Breach; Conflicts. The execution, delivery, and performance by each Borrower of this Amendment do not and will not
conflict with, or constitute a violation or breach of, or result in the imposition of any Lien upon the property of such Borrower, by reason of the terms of (a) any contract, mortgage, lease, agreement, indenture, or instrument to which such
Borrower is a party or which is binding upon it; (b) any Law with respect to such Borrower; or (c) the Organization Documents of such Borrower. 
 ARTICLE IV 
 CONDITIONS PRECEDENT 

4.01. Conditions Precedent. The amendments contained in Article II shall not be binding upon the Administrative Agent and the
Lenders until each of the following conditions precedent have been satisfied in form and substance satisfactory to the Administrative Agent: 
 (a) The Administrative Agent shall have received counterparts of this Amendment executed by the Borrowers, the Administrative Agent, the Lenders, and the L/C Issuer; 

  
 5 

 (b) The Borrowers shall have paid (i) to the Administrative Agent for the account of
each Lender in accordance with its Applicable Percentage, an amendment fee equal to $60,000, and (ii) all costs, expenses, and other fees owed to and/or incurred by the Administrative Agent, the Lenders, and the L/C Issuer (including without
limitation all reasonable fees and expenses of counsel to the Administrative Agent); 
 (c) The Administrative Agent shall have
received certified copies of resolutions or other action, incumbency certificates, and/or other certificates of duly authorized officers of the Borrowers as the Administrative Agent may reasonably require evidencing the identity, authority, and
capacity of each duly authorized officer authorized to act on behalf of the Borrowers in connection with this Amendment; 
 (d)
The Administrative Agent shall have received such other documents, legal opinions, instruments, and certificates relating to this Amendment as it shall reasonably request and such other documents, legal opinions, instruments, and certificates that
shall be satisfactory in form and substance to the Administrative Agent and the Lenders. All corporate proceedings taken or to be taken in connection with this Amendment and documents incidental thereto whether or not referred to herein shall be
reasonably satisfactory in form and substance to the Administrative Agent and the Lenders; and 
 (e) All proceedings taken in
connection with the transactions contemplated by this Amendment and all documentation and other legal matters incident thereto shall be satisfactory to the Administrative Agent in its sole and absolute discretion. 

ARTICLE V 

COSTS AND EXPENSES 
 Without limiting the terms and conditions of the Loan Documents, the Borrowers jointly and severally agree to pay on demand: (a) all reasonable costs and expenses incurred by the Administrative Agent
in connection with the preparation, negotiation, and execution of this Amendment and the other Loan Documents executed pursuant to this Amendment and any and all subsequent amendments, modifications, and supplements to this Amendment, including
without limitation, the reasonable costs and fees of the Administrative Agent’s legal counsel; and (b) all reasonable costs and expenses reasonably incurred by the Administrative Agent in connection with the enforcement or preservation of
any rights under the Credit Agreement, this Amendment, and/or the other Loan Documents, including without limitation, the reasonable costs and fees of the Administrative Agent’s legal counsel. 

ARTICLE VI 

MISCELLANEOUS 
 6.01.
Instrument Pursuant to Credit Agreement. This Amendment is a Loan Document executed pursuant to the Credit Agreement and shall (unless otherwise expressly indicated herein) be construed, administered, and applied in accordance with the
terms and provisions of the Credit Agreement. 
 6.02. Acknowledgment of the Borrowers. Each Borrower hereby represents and
warrants that the execution and delivery of this Amendment and compliance by such Borrower with all of the provisions of this Amendment: (a) are within the powers and purposes of such Borrower; (b) have been duly authorized or approved by
the board of directors (or other appropriate governing body) of such Borrower; and (c) when executed and delivered by or on behalf of such Borrower will constitute valid and binding obligations of such Borrower, enforceable in accordance with
its terms. Each Borrower reaffirms its 

  
 6 

 
obligation to pay all amounts due to the Administrative Agent, the Lenders, and the L/C Issuer under the Loan Documents (including, without limitation, its obligations under the Revolving Credit
Notes) in accordance with the terms thereof, as amended and modified hereby. 
 6.03. Entire Agreement. This Amendment, together
with all the other Loan Documents (collectively, the “Relevant Documents”), sets forth the entire understanding and agreement of the parties hereto in relation to the subject matter hereof and supersedes any prior negotiations and
agreements among the parties relating to such subject matter. No promise, condition, representation or warranty, express or implied, not set forth in the Relevant Documents shall bind any party hereto, and no such party has relied on any such
promise, condition, representation or warranty. Each of the parties hereto acknowledges that, except as otherwise expressly stated in the Relevant Documents, no representations, warranties or commitments, express or implied, have been made by any
party to the other in relation to the subject matter hereof or thereof. None of the terms or conditions of this Amendment may be changed, modified, waived or canceled orally or otherwise, except in writing and in accordance with Section 10.01
of the Credit Agreement. 
 6.04. Full Force and Effect of Agreement. Except as hereby specifically amended, modified or
supplemented, the Credit Agreement and all other Loan Documents are hereby confirmed and ratified in all respects and shall be and remain in full force and effect according to their respective terms. 

6.05. Counterparts. This Amendment may be executed in any number of counterparts each of which when so executed and delivered shall be
deemed an original, and it shall not be necessary in making proof of this Amendment to produce or account for more than one such counterpart executed by any party hereto. Without limiting the foregoing, the provisions of Section 10.10 of the
Credit Agreement shall be applicable to this Amendment. Delivery of an executed counterpart of a signature page of this Amendment by telecopy or other electronic imaging means shall be effective as delivery of a manually executed counterpart of this
Amendment. 
 6.06. Governing Law. This Amendment shall in all respects be governed by, and construed in accordance with, the laws
of the State of Illinois applicable to contracts executed and to be performed entirely within such State, and, without limiting the generality of Section 6.01 hereof, the provisions of Sections 10.14 and 10.15 of the Credit Agreement are
hereby incorporated by reference as if fully set forth herein. 
 6.07. Enforceability. Should any one or more of the provisions
of this Amendment be determined to be illegal or unenforceable as to one or more of the parties hereto, all other provisions nevertheless shall remain effective and binding on the parties hereto. 

6.08. References. All references in any of the Loan Documents to the “Credit Agreement” shall mean the Credit Agreement, as
amended hereby. 
 6.09. Successors and Assigns. This Amendment shall be binding upon and inure to the benefit of the Borrowers,
the Administrative Agent, the Lenders, the L/C Issuer, and their respective successors, legal representatives, and assignees to the extent such assignees are permitted assignees as provided in Section 10.06 of the Credit Agreement. 

[Remainder of Page Intentionally Left Blank] 

  
 7 

 IN WITNESS WHEREOF, the parties have executed and delivered this Amendment as of the
day and year first written above. 
  

			
	BORROWERS:
	
	MODUSLINK GLOBAL SOLUTIONS, INC.
		
	By:	 	/s/ Peter L. Gray
	Name:	 	Peter L. Gray
	Title:	 	 Executive Vice President, General Counsel and
 Secretary

	
	MODUSLINK CORPORATION
		
	By:	 	/s/ Peter L. Gray
	Name:	 	Peter L. Gray
	Title:	 	 Executive Vice President, General Counsel and
 Secretary

	
	MODUSLINK PTS, INC.
		
	By:	 	/s/ Peter L. Gray
	Name:	 	Peter L. Gray
	Title:	 	Secretary
	
	SOL HOLDINGS, INC.
		
	By:	 	/s/ Peter L. Gray
	Name:	 	Peter L. Gray
	Title:	 	Secretary
	
	MODUS MEDIA INTERNATIONAL (IRELAND) LIMITED
		
	By:	 	/s/ Peter L. Gray
	Name:	 	Peter L. Gray
	Title:	 	Secretary
	
	TECH FOR LESS LLC
		
	By:	 	/s/ Peter L. Gray
	Name:	 	Peter L. Gray
	Title:	 	Secretary

 [Signatures continue on next page.] 

 
			
	 BANK OF AMERICA, N.A.,
 as a Lender and L/C Issuer

		
	By:	 	/s/ David Bacon
	Name:	 	David Bacon
	Title:	 	Senior Vice President
	
	 SILICON VALLEY BANK,
 as a Lender

		
	By:	 	/s/ Jack Gaziano
	Name:	 	Jack Gaziano
	Title:	 	Managing Director
	
	 HSBC BANK USA, NATIONAL ASSOCIATION,
 as a Lender

		
	By:	 	/s/ David A. Carroll
	Name:	 	David A. Carroll
	Title:	 	Vice President

  

			
	ACKNOWLEDGED AND AGREED TO BY:
	
	 BANK OF AMERICA, N.A.,
 as Administrative Agent

		
	By:	 	/s/ Bozena Janociak
	Name:	 	Bozena Janociak
	Title:	 	Assistant Vice President

 EXHIBIT C 

FORM OF COMPLIANCE CERTIFICATE 
 Financial Statement Date:                         
    , 20          
  

	To:	Bank of America, N.A., as Administrative Agent 

Ladies and Gentlemen: 

Reference is made to that certain Amended and Restated Credit Agreement, dated as of February 1, 2010 (as amended, restated,
extended, supplemented or otherwise modified in writing from time to time, the “Agreement;” the terms defined therein being used herein as therein defined), among MODUSLINK GLOBAL SOLUTIONS, INC., a Delaware corporation
(“Holdings”), each of the Domestic Subsidiaries of Holdings signatory thereto (together with Holdings, the “Borrowers”), each lender from time to time party thereto (collectively, the “Lenders” and
individually, a “Lender”), and BANK OF AMERICA, N.A., as Administrative Agent and L/C Issuer. 
 The
undersigned Responsible Officer hereby certifies as of the date hereof that he/she is the [chief executive officer / chief financial officer / treasurer / controller] of Holdings, and that, as such, he/she is authorized to execute and deliver
this Compliance Certificate to the Administrative Agent on the behalf of the Borrowers, and that: 
 [Use following paragraph
1 for fiscal year-end financial statements] 
 1. Holdings has delivered the year-end audited financial statements required
by Section 6.01(a) of the Agreement for the fiscal year of Holdings ended as of the above date, together with the report and opinion of an independent certified public accountant required by such section. 

[Use following paragraph 1 for month-end financial statements for the months of October, January, and April] 

1. Holdings has delivered the unaudited financial statements required by Section 6.01(b) of the Agreement for the month ended
as of the above date. Such consolidated financial statements fairly present the financial condition, results of operations and cash flows of Holdings and its Subsidiaries in accordance with Modified GAAP as at such date and for such period, subject
only to normal year-end audit adjustments and the absence of footnotes to the effect that such statements are fairly stated in all material respects when considered in relation to the consolidated financial statements of Holdings and its
Subsidiaries. Holdings has also delivered (i) internally prepared documentation sufficient to establish that all deviations from GAAP identified on such financial statements delivered pursuant to Section 6.01(b) in accordance with
Modified GAAP have been conformed and/or modified to be in accordance with GAAP as of such fiscal quarter; (ii) a consolidating balance sheet of Holdings and its Subsidiaries as at the end of such fiscal quarter and the related consolidating
statements of income or operations for such fiscal quarter and for the portion of Holdings’ fiscal year then ended, setting forth in each case in comparative form the figures for the corresponding fiscal quarter of the previous fiscal year and
the corresponding portion of the previous fiscal year, all in reasonable detail, such consolidating statements to be certified by the chief executive officer, chief financial officer, treasurer or controller of Holdings to the effect that such
statements are fairly stated in all material respects when considered in relation to the consolidated financial statements of Holdings and its Subsidiaries, and (iii) a statement of all consolidated cash balances maintained by Holdings and its
Subsidiaries for each country. 

 2. The undersigned has reviewed and is familiar with the terms of the Agreement and has
made, or has caused to be made under his/her supervision, a detailed review of the transactions and condition (financial or otherwise) of the Borrowers and their Subsidiaries during the accounting period covered by such financial statements.

 3. A review of the activities of the Borrowers and their Subsidiaries during such fiscal period has been made under the
supervision of the undersigned with a view to determining whether during such fiscal period the Borrowers and their Subsidiaries (as applicable) performed and observed all their Obligations under the Loan Documents, and 

[select one:] 
 [to the best knowledge of the undersigned, during such fiscal period each of the Borrowers and their Subsidiaries performed and observed each covenant and condition of the Loan Documents applicable to it,
and no Default has occurred and is continuing.] 
 —or— 

[to the best knowledge of the undersigned, the following covenants or conditions have not been performed or observed and the following is
a list of each such Default and its nature and status:] 
 4. The representations and warranties of the Borrowers contained in
Article V of the Agreement and all representations and warranties of any Borrower that are contained in any document furnished at any time under or in connection with the Loan Documents are true and correct on and as of the date hereof,
except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date, and except that for purposes of this Compliance Certificate, the representations
and warranties contained in subsection (a) of Section 5.05 of the Agreement shall be deemed to refer to the most recent statements furnished pursuant to subsection (a) of Section 6.01 of the Agreement, including the
statements in connection with which this Compliance Certificate is delivered. 
 5. The financial covenant analyses and
information set forth on Schedules 1 and 2 attached hereto are true and accurate on and as of the date of this Compliance Certificate. 
 [SIGNATURE PAGE FOLLOWS] 

  
 C-2

 IN WITNESS WHEREOF, the undersigned has executed this Compliance Certificate as of
                                 ,
20        . 
  

			
	 MODUSLINK GLOBAL SOLUTIONS, INC.,
 as the Borrower Agent

		
	By:	 	 
	Name:	 	 
	Title:	 	 

  

 For the Month/Year ended
                            ,         
(“Statement Date”) 
 SCHEDULE 1 
 to the Compliance Certificate 
 ($ in 000’s) 

 

									
	 I.      Section 7.11(a) – Consolidated Leverage Ratio.
	  	
				
		 	 A.
	  	Consolidated Funded Indebtedness at Statement Date	  	$______
				
		 	 B.
	  	Consolidated EBITDA of the Borrowers and their Subsidiaries on a consolidated basis for Measurement Period ending on above date (“Subject Period”)
(including Consolidated EBITDA with respect to any newly-created or acquired Subsidiary calculated on a pro forma basis for such Measurement Period as if the acquisition had been consummated as of the first day of the Measurement
Period):	  	
					
		 		  	1.	  	Consolidated Net Income for Subject Period:	  	$______
					
		 		  	2.	  	Consolidated Interest Charges for Subject Period:	  	$______
					
		 		  	3.	  	Provision for income taxes for Subject Period:	  	$______
					
		 		  	4.	  	Depreciation expenses for Subject Period:	  	$______
					
		 		  	5.	  	Amortization expenses for Subject Period:	  	$______
					
		 		  	6.	  	All Net Non-Cash Restructuring Charges recognized by Borrowers and their Subsidiaries during Subject Period (to the extent calculations of the Net Non-Cash Restructuring Charges for
Subject Period result in a positive number):	  	$______
					
		 		  	7.	  	Unrealized, non-cash foreign exchange losses for Subject Period:	  	$______
					
		 		  	8.	  	Realized foreign exchange losses for Subject Period incurred after January 1, 2012:	  	$______
					
		 		  	9.	  	An amount equal to all non-cash goodwill impairment charges recognized by Borrowers and their Subsidiaries for Subject Period:	  	$______
					
		 		  	10.	  	Adjustments for equity investments held by CMG@Ventures Entities or from impairment charges on Investments for Subject Period:	  	$______
					
		 		  	11.	  	Non-cash stock compensation expenses for Subject Period:	  	$______
					
		 		  	12.	  	Non-cash intangible asset impairment charges recognized by Borrowers and their Subsidiaries for Subject Period:	  	$______
					
		 		  	13.	  	Up to $11,000,000 of Reorganizational Charges recognized by Borrowers and their Subsidiaries during the fiscal year ending on July 31, 2012, to the extent recognized during Subject
Period:	  	$______

  

SCHEDULE 1 TO EXHIBIT C - Page 1 

									
					
		 		  	14.	  	Income tax credits for Subject Period:	  	$______
					
		 		  	15.	  	Unrealized, non-cash foreign exchange gains for Subject Period:	  	$______
					
		 		  	16.	  	Realized foreign exchange gains for Subject Period accrued after January 1, 2012:	  	$______
					
		 		  	17.	  	Adjustments for equity investments held by CMG@Ventures Entities or from gains on Investments for Subject Period:	  	$______
					
		 		  	18.	  	Consolidated EBITDA (Lines I.A.1 + 2 + 3 + 4 + 5 + 6 + 7 + 8 + 9 + 10 + 11 + 12 + 13 - 14 - 15 - 16 - 17):	  	$______
				
		 	 C.
	  	Consolidated Leverage Ratio (Line I.A ÷ Line I.B.18):	  	         to 1.0
				
		 		  	Maximum permitted:             2.0:1.0	  	
			
	 II.
	 	Section 7.11(c) – Minimum Global Cash. Balance of cash (as determined under GAAP), cash equivalents (as determined under GAAP), and Cash Equivalents as of
Statement Date (on a consolidated basis):	  	$______
					
		 		  		  		  	
				
		 		  	Minimum required:             $75,000,000	  	

  

SCHEDULE 1 TO EXHIBIT C - Page 2 

 For the Quarter/Year ended
                         (“Statement Date”) 

SCHEDULE 2 

to the Compliance Certificate 
 ($ in 000’s) 
 Minimum Consolidated EBITDA 

(in accordance with the definition of Consolidated EBITDA 
 as set forth in the Agreement and Section 7.11(d) of the Agreement) 
  

											
	Consolidated EBITDA	  	Quarter
Ended	  	Quarter
Ended	  	Quarter
Ended	  	Quarter
Ended	  	Twelve
Months
Ended
	 Consolidated Net Income
	  		  		  		  		  	
	 +       Consolidated Interest Charges
	  		  		  		  		  	
	 +       income taxes
	  		  		  		  		  	
	 +       depreciation expense
	  		  		  		  		  	
	 +       amortization expense
	  		  		  		  		  	
	 +       Net Non-Cash Restructuring Charges (to the extent calculations of the Net Non-Cash
Restructuring Charges for Subject Period result in a positive number)
	  		  		  		  		  	
	 +       unrealized, non-cash foreign exchange losses
	  		  		  		  		  	
	 +       realized foreign exchange losses incurred after January 1, 2012
	  		  		  		  		  	
	 +       non-cash goodwill impairment charges
	  		  		  		  		  	
	 +       adjustments for equity investments held by CMG@Ventures Entities or from impairment
charges on Investments
	  		  		  		  		  	

  

SCHEDULE 1 TO EXHIBIT C - Page 1 

											
	 +       Non-cash stock compensation expenses
	  		  		  		  		  	
	 +       non-cash intangible asset impairment charges
	  		  		  		  		  	
	 +       up to $11,000,000 of Reorganizational Charges recognized during the fiscal year ending
on July 31, 2012
	  		  		  		  		  	
	 _       income tax credits
	  		  		  		  		  	
	 _       unrealized, non-cash foreign exchange gains
	  		  		  		  		  	
	 _       realized foreign exchange gains accrued after January 1, 2012
	  		  		  		  		  	
	 _       adjustments for equity investments held by CMG@Ventures Entities or from gains on
Investments
	  		  		  		  		  	
	 =       Consolidated EBITDA
	  		  		  		  		  	

  

					
	 Period
	  	Minimum required
Consolidated EBITDA	 
	 From February 1, 2011 through January 31, 2012
	  	$	9,097,000	  
	 From May 1, 2011 through April 30, 2012
	  	$	8,810,000	  
	 From August 1, 2011 through July 31, 2012
	  	$	14,182,000	  
	 From November 1, 2011 through October 31, 2012
	  	$	14,182,000	  

  

SCHEDULE 1 TO EXHIBIT C - Page 2<![CDATA[Amd No. 4 to the Agreement between AstraZeneca AB & Dynavax Technologies Corp.]]>

 Exhibit 10.67 
 Page 1 of 25 
 [***] = Certain confidential information contained in this document,
marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 
 AMENDMENT No. 4 
 This Amendment No. 4 (the “Amendment”) to the
Agreement dated 1 September 2006 by and between 
  

	(1)	ASTRAZENECA AB, a company incorporated in Sweden under no. 556011-7482 with offices at S-151 85 Sodertalje, Sweden (“AstraZeneca”); and

  

	(2)	DYNAVAX TECHNOLOGIES CORPORATION, a Delaware corporation with offices at 2929 Seventh Street, Suite 100, Berkeley, California 94710-2753, USA
(“Dynavax”) 

 (the “Agreement”) is made effective as of the 23 day of September 2011 (the
“Amendment Effective Date”). 
 Recitals 
 WHEREAS, the Research Term has expired and the Joint Research has been completed; and 
 WHEREAS,
under the Agreement AstraZeneca has nominated AZD 1419 as a Lead CD; and 
 WHEREAS, under the Agreement AstraZeneca has the responsibility, as
set forth therein, for Developing Candidate Drugs selected and Commercialising Products and Combination Products and for costs associated with the Development and Commercialisation; and 
 WHEREAS, in furtherance of the Development of AZD 1419 the Parties have found it preferable that Dynavax carries out a certain portion of the Development, primarily consisting of the Phase I Study and the
Phase II a Study, as more closely described and on the terms set forth in this Amendment; and 
 WHEREAS, the Parties as a consequence desire to
further amend, modify and restate certain terms and conditions of the Agreement. 

  Page
 2
 of 25 
  

Agreement 
 NOW,
THEREFORE, in consideration of the mutual covenants contained in this Amendment, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, agree as follows:

  

	1	Definitions. 

 Any capitalized term
not separately defined in this Amendment shall have the meaning ascribed to it in the Agreement. 
  

	2	Modifications 

 2.1
The following Sections shall be inserted immediately after Section 1.123 of the Agreement as new Sections 1.124 through 1.138. 
  

	“1.124	‘AZD 1419’ means the Lead Candidate coded by AstraZeneca as AZD 1419. 

 

	1.125	‘Aggregate Amount’ has the meaning defined in Section 9.4.1. 

 

	1.126	‘Anti-Corruption Laws’ means the US Foreign Corrupt Practices Act of 1977, the UK Bribery Act 2010 and any other Applicable Law for the prevention of
fraud, corruption, racketeering, money laundering and/or terrorism. 

  

	1.127	‘Authority’ means any court or government body, whether national, supra-national, federal, state, local, foreign or provincial, including any political
subdivision thereof, including any department, commission, board, bureau, agency, or other regulatory or administrative governmental authority or instrumentality, and further including any quasi-governmental person or entity exercising the functions
of any of these. 

  

	1.128	‘Commercially Sensitive Information’ means any and all commercially or strategically sensitive information relating to the business of a Party or its
Affiliates, including information about prices and pricing policies, cost structures and business strategies. 

  
 [***] = Certain
confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

  Page
 3
 of 25 
  
  

	1.129	‘External Interactions Policy’ means the AstraZeneca Global Policy — External Interactions available at www.astrazeneca.com following the
links Responsibility / Code, policies & standards / Policies & standards / External interactions, as in force from time to time. 

  

	1.130	‘Group’ means a Party and its Affiliates. 

  

	1.131	‘Key Requirements’ means the key requirements to be met by AstraZeneca external contractors and suppliers as required by the External Interactions
Policy, which requirements are set forth on Schedule 1. 

  

	1.132	‘Material Anti-Corruption Law Violation’ means a violation of an Anti-Corruption Law which would if it was publicly known, in the reasonable view of
AstraZeneca, have a material adverse effect on Dynavax or on the reputation of AstraZeneca because of its relationship with Dynavax. 

  

	1.133	‘Phase I Study’ means the clinical study regarding AZD 1419 with the design, endpoint, number of subjects and time plan described, and otherwise as
described, in the Amendment Development Phase I Study Plan, attached hereto as a Schedule 2. 

  

	1.134	‘Phase II a Study’ means the clinical study regarding AZD 1419 with the design, endpoint, number of subjects and time plan described, and otherwise as
described, in the Amendment Development Phase II a Study Plan, attached hereto as a Schedule 3. 

  

	1.135	‘Phase II a Manufacturing Services’ means the manufacturing of Compound with a quality and in a quantity sufficient, and further in accordance with the
specifications and conditions set forth in the Schedule 4, attached hereto, for the purpose of carrying out the Phase II a Study. 

  

	1.136	‘Sub-Contract’ means any contract between Dynavax and a third party pursuant to which Dynavax performs its obligations under this Agreement.

  

	1.137	‘Sub-Contractor’ means a Person with whom Dynavax enters into a Sub-Contract or such Person’s employees, servants or agents, and any further third
party with whom that Person enters into a sub-contract or such further third party’s employees, servants or agents. 

  
 [***] = Certain
confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

  Page
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	1.138	‘Toxicology Study’ means the twelve weeks toxicology studies being part of the Phase I Study as described in Schedule 5 attached hereto.

  

	1.139	‘Dynavax Development Work’ means collectively the Phase II a Manufacturing Services, the Phase I Study, the Phase II a Study and the Toxicology
Study.” 

 2.2 The following Sections shall be inserted immediately after Section 8.2 of the
Agreement as new Sections 8.2.B and 8.2.C: 
  

	“8.2.B	Notwithstanding what is stated in Section 8.2, Dynavax shall be responsible for carrying out the Dynavax Development Work in accordance with what is stated herein.
The obligations on Dynavax set forth in Sections 3.5.3, 3.5.4, first four sentences, and 3.8 regarding the Joint Research Programme shall apply mutatis mutandis to the Dynavax Development Work. 

 

	8.2.C	Without prejudice to what is stated in Section 8.3.2, Dynavax shall be responsible for developing Regulatory Documentation and preparing and submitting Regulatory
Filings and, as applicable, maintain Health Registration Approvals for AZD1419 for the purpose of carrying out the Dynavax Development Work. Upon completion of the Dynavax Development Work and payment of the milestone in Section 9.4.1, such
Regulatory Documentation, Regulatory Filing and, as applicable, Health Registration Approvals, shall be transferred to AstraZeneca free of charge in a format useful and suitable for AstraZeneca for the purpose of being be able to continue the
Development and carry out Commercialisation in accordance with this Agreement. Sections 8.2, 8.3.4 and 8.3.5 shall during the course of the Dynavax Development Work apply mutatis mutandis to Dynavax regarding its conduct thereof.

 Dynavax shall use Commercially Reasonably Efforts to carry out the Dynavax Development Work, provided, however,
that (i) insofar it relates to timelines and resource allocation Dynavax will be allowed to carry out the Dynavax 

  
 [***] = Certain
confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

  Page
 5
 of 25 
  
 
Development Work at its sole discretion in accordance with those timeline and resource allocation parameters set forth in the Amendment Development Study Plan and (ii) for the purpose of
deciding Commercially Reasonably Efforts under this Section 8.2.C, and without prejudice to what is otherwise stated in Section 1.28, Dynavax’ efforts and resources shall be those commonly used by a biotechnology company of similar
size and position. For the avoidance of doubt, AstraZeneca’s obligation to use Commercially Reasonable Efforts as set forth in Sections 8.2 and 8.10 shall be deemed to have been fulfilled, and deemed to continue to be fulfilled, for as long as
the Dynavax Development Work is ongoing. 
  

	8.2.D	Immediately upon completion of the Dynavax Development Work, or at any time before such completion as decided from time to time by the JSC, Dynavax shall make available
and transfer to AstraZeneca any Dynavax Know-How, compounds and other materials generated by or on behalf of Dynavax, solely or jointly with AstraZeneca or any Third Party, in the course of the Dynavax Development Work in a format useful and
suitable for AstraZeneca to be able to continue the Development and carry out Commercialisation in accordance with this Agreement.” 

 2.3 The following paragraph shall be inserted immediately after Section 8.9 as new Sections 8.9.B and 8.9.C: 

 

	“8.9.B	 (i) Notwithstanding what is stated in Section 8.9, the Parties have agreed on a total estimated cost required for the Dynavax Development Work to
be twenty-two million U.S. Dollars ($22,000,000) allocated as set forth in b) through e), which funding is reasonably assessed to cover all Dynavax’ fully loaded costs for all activities contained therein and all costs for outsourcing of
services and other Third Party contracts required for the Dynavax Development Work. Upon completion of each activity as set forth under b) through e) the Parties shall reconcile the amounts in accordance with what is stated in Section 8.9.C.

  
 [***] = Certain
confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

  Page
 6
 of 25 
  

	 	
AstraZeneca shall, subject to what is stated under sub-section (ii), provide the following funding as the sole compensation, subject to the reconciliation set forth in Section 8.9.C, to
Dynavax for carrying out the Dynavax Development Work: 

  

	 	(a)	three million U.S. Dollars ($3,000,000) at signing of this Amendment 

  

	 	(b)	[***] 

  

	 	(c)	[***] 

  

	 	(d)	[***] 

  

	 	(e)	[***] 

 AstraZeneca shall pay
Dynavax the amounts specified in b) through e) above no later than [***] days ahead of the planned start of the activity concerned and the amount under a) within [***] days of such event. 

(ii) Should AstraZeneca at its discretion decide not to provide certain funding as set forth under sub-section (i)(b) through (e), then
AstraZeneca may refrain from doing so and notify Dynavax thereof and, for the avoidance of doubt, such payment shall not become due regardless of whether this Agreement has expired or not. Upon Dynavax’ receipt of such notice AstraZeneca shall
be deemed to have served notice under Section 20.2 of its determination that it does not wish to pursue any of the activities mentioned in the first sentence thereof. Notwithstanding the foregoing, should AstraZeneca subsequently confirm to
Dynavax in writing that it does not intend to terminate this Agreement in accordance with Section 20.2, or does not serve notice to terminate this Agreement in its entirety in accordance with said Section 20.2 within [***] months of having
served the notice first mentioned in this sub-section (ii), then the payment concerned shall become due and payable within [***] days of such written confirmation or the expiration of such [***] months period, whichever is the earlier.”

  
 [***] = Certain
confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

  Page
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	8.9.C	Upon completion of each activity under Section 8.9.B b) through e) Dynavax shall forthwith disclose to AstraZeneca in sufficient detail the costs spent or incurred
by Dynavax for the activity concerned. Should such total cost spent or incurred for a certain activity exceed the amount paid for by AstraZeneca for such activity then upon AstraZeneca’s reasonable determination that such excess amount has been
legitimately incurred or spent for such activity, AstraZeneca shall within [***] days of having received specification of costs in such detail that AstraZeneca can reasonably make such assessment pay to Dynavax the balance or such part of the
balance that [***] reasonably considers legitimate for the purpose of carrying out the activity concerned. Should the total spend and costs incurred have been lower than the amount paid for by AstraZeneca for the activity concerned then AstraZeneca
may offset the amount corresponding to the excess paid by AstraZeneca when doing the next payment under c) through e), or, if no such additional payment is due, from the next milestone payment under Section 9.4 or, if necessary, from royalty
payments under Section 10.1. Should no further milestone or other payment be due, whether due to AstraZeneca’s termination of this Agreement or otherwise, then Dynavax shall repay the amount concerned to AstraZeneca within [***] days of
the date of completion of the activity concerned. This Section 8.9.0 shall survive the expiration or termination of this Agreement. 

 2.4 Sections 9.4.1 and 9.4.2 in their current wording are hereby deleted, and for the avoidance of doubt the milestone payments covered thereunder will not become due, and
replaced by a new Section 9.4.1: 
  

	“9.4.1	 twenty million U.S. Dollars ($20,000,000) within [***] days of Dynavax’ delivery of the final report from the Phase II a Study; provided, however,
that should AstraZeneca provide Dynavax notice in accordance with Section 20.2 of its determination as set forth in such Section, then the milestone 

  
 [***] = Certain
confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

  Page
 8
 of 25 
  

	 	
payment under this Section 9.4.1 shall not become due; provided, however, that in case AstraZeneca subsequently confirms to Dynavax in writing that it does not intend to terminate this
Agreement in accordance with Section 20.2, or does not serve notice to terminate this Agreement in its entirety in accordance with said Section 20.2 within [***] months of having served the notice first mentioned in this
Section 9.4.1, then such milestone payment shall become due and payable within [***] days of such written confirmation or the expiration of such [***] months period, whichever is the earlier. 

Notwithstanding the foregoing, should the actual aggregate amount for the Dynavax Development Work spent or incurred by Dynavax and paid
for by AstraZeneca pursuant to Section 8.9.B (i) and 8.9.0 (the “Aggregate Amount”) exceed the total amount set forth in Section 8.9.B (i) (i.e. $22,000,000) by more than [***], or should the Dynavax Development
Work not have been completed by [***] (the “Completion Date”), then the amount set forth in the first paragraph of this Section 9.4.1 shall be deemed [***] and, for the avoidance of doubt, the balance shall not become due.
Without prejudice to the foregoing, the JSC may decide that a certain amount spent or incurred by Dynavax shall not be taken into account for the purpose of establishing whether and to what extent the Aggregate Amount has exceeded the total amount
set forth in Section 8.9.B(i), or that the Completion Date shall be changed; in which case such certain amount spent or incurred shall be disregarded for the purpose of such calculation or such new date be deemed the Completion Date. Should,
however, the JSC decide that the scope or nature of the Dynavax Development Work shall be modified then the resulting increase or decrease in costs paid for by AstraZeneca shall for the purpose of the calculation in this second paragraph of
Section 9.4.1 mean a corresponding increase or decrease, as applicable, in the amount set forth in Section 8.9.B(i) and the resulting increase or decrease in time required to complete the Dynavax Development Work shall mean a corresponding
adjustment of the Completion Date. 

  
 [***] = Certain
confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

  Page
 9
 of 25 
  
 The space
for Section 9.4.2 shall be left blank and Sections 9.4.3 through 9.4.11 shall retain their numbering as per the Agreement. 

2.5 Section 6.3.1 of the Agreement shall be amended to read as follows: 

 

	 	“6.3.1	a worldwide, fully paid, non-exclusive licence, with the right to sublicense, under the AstraZeneca Technology and AstraZeneca’s rights and interest in the
Collaboration Technology solely to perform Dynavax’ portion of the Research obligations and its obligations under the Dynavax Development Work under this Agreement with respect to Dynavax ISS and Collaboration ISS, CDs, Products and Combination
Products in the Field and in the Territory.” 

 For the avoidance of doubt, the remainder of Section 6.3 shall remain in
full force and effect in accordance with its wording. 
 2.6 The following paragraph shall be inserted as a new
second sentence in Section 4.14: 
 “Notwithstanding the foregoing, the mandate and responsibility of the JSC
set forth for the Joint Research Programme shall be extended to apply during the Dynavax Development Work and what is stated in Section 4.8, other than in sub-sections 4.8.2, 4.8.4, 4.8.8, 4.8.9, 4.8.10, 4.8.11, 4.8.15 and 4.8.16, through 4.12
regarding the Joint Research Programme shall apply mutatis mutandis regarding the Dynavax Development Work. Following completion of the Dynavax Development Work the JSC shall be dissolved. For the avoidance of doubt, the JPT shall be deemed to have
been dissolved in accordance with Section 4.7 and shall not have any role as part of the Dynavax Development Work.” 

  
 [***] = Certain
confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

  Page
 10
 of 25 
  

2.7 The following clauses shall be inserted immediately after Section 18.5 as new Sections 18.6 through 18.15.

  

	 	“18.6	Except as disclosed to AstraZeneca in writing, to the knowledge of Dynavax, neither Dynavax in any of its activities whatsoever, nor any Affiliates, consultants,
agents, representatives or Sub-Contractors in any of their activities connected with this Agreement has taken any action after the Effective Date which was a Material Anti-Corruption Law Violation at the time it was taken, nor has any of them been
formally notified that they are subject to an investigation by a Regulatory Authority for a Material Anti-Corruption Law Violation. 

  

	 	18.7	Dynavax shall at all times during the Term be an entity that is appropriately authorized to perform its obligations under this Agreement under Applicable Law and shall
at all times have a sufficient financial capacity to meet its obligations under this Agreement. 

  

	 	18.8	Dynavax shall ensure that it, its Affiliates and the officers, employees and directors of Dynavax and its Affiliates are aware of and trained in their obligations under
Anti-Corruption Laws, and that all consultants, agents, representatives and Sub-Contractors of Dynavax and its Affiliates who have a connection with this Agreement are aware of and trained in their obligations under Anti-Corruption Laws.

  

	 	18.9	Dynavax shall immediately inform AstraZeneca in the event that Dynavax receives a formal notification that it is the target of a formal investigation by a Regulatory
Authority for a Material Anti-Corruption Law Violation. Dynavax shall immediately inform AstraZeneca in the event that Dynavax receives information from any of its Affiliates or from any consultants, agents, representatives or Sub-Contractors of
Dynavax or its Affiliates connected with this Agreement that any of them is the target of a formal investigation by a Regulatory Authority for a Material Anti-Corruption Law Violation. 

 

	 	18.10	Dynavax shall ensure that no officer, employee or director of Dynavax in any of their activities and that no Affiliate, consultant, agent, representative or
Sub-Contractor of Dynavax or its Affiliates who has a connection with this Agreement: 

  

	 	(A)	 directly or indirectly offers, promises, pays, gives, or authorises any offer, promise, payment or gift of money or anything else of value to any
Person, including by way of a facilitation or grease payment, with the intention of or as a condition to inducing any 

  
 [***] = Certain
confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

  Page
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Person to carry out a duty or function improperly or to reach a favourable decision on an improper basis. This includes providing improper benefits of any kind (including by way of preceptorships
or sponsorships) to any Regulatory Authority, governmental official, healthcare professional and/or organisation, university, research centre, patient, supplier, charity or patient group, in each case whether companies or individuals, to obtain or
retain business or to secure any improper advantage for AstraZeneca or any of its Affiliates; or 

  

	 	(B)	directly or indirectly solicits any offer or promise or receives any payment or gift of money or anything else of value from any Person, including by way of a
facilitation or grease payment, with the intention of or as a condition to inducing any officer, employee, director, consultant, agent or representative of Dynavax or its Affiliates to carry out a duty or function improperly or to reach a favourable
decision on an improper basis. This includes soliciting or receiving improper benefits of any kind (including by way of preceptorships or sponsorships) from any Regulatory Authority or other governmental official, healthcare professional and/or
organisation, university, research centre, patient, supplier, charity or patient groups, in each case whether companies or individuals, to obtain or retain business or to secure any improper advantage for AstraZeneca or any of its Affiliates.

  

	 	18.12	Dynavax shall ensure that no officer, employee, director, consultant, agent, representative or Sub-Contractors of Dynavax or its Affiliates takes any action which could
render any member of the AstraZeneca Group liable under any Anti-Corruption Laws or would cause any employee of the AstraZeneca Group to be in violation of the Code of Conduct. 

 

	 	18.13	In addition to the requirements set forth above in Sections 18.6 through 18.12, Dynavax confirms that it has read and will comply with the Key Requirements or its own
similar requirements. 

 Dynavax shall not enter into any transaction in any country or with any Person if such
transaction is restricted under United States, United Nations, European Union or other Applicable Law regarding exports (“Export Regulations”) (irrespective of whether Dynavax itself is subject to such Export Regulations) without
having first obtained all relevant regulatory approvals and the prior written approval of AstraZeneca. 

  
 [***] = Certain
confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

  Page
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	 	18.14	Dynavax will not in connection with this Agreement or any part of its business engage or employ children under the age of 14, and Dynavax shall not be in any way
engaged in any form of slavery or practice similar to slavery, such as the sale and trafficking of women or children, debt bondage or forced or compulsory labour. 

 

	 	18.15	Monitoring and Audit. 

  

	 	18.15.1	For the Term and [***] years thereafter, Dynavax shall for the purpose of auditing and monitoring its performance of this Agreement grant (or procure the grant) to
AstraZeneca, its Affiliates, any auditors of any of them and any Regulatory Authority the right of access to any premises of Dynavax, its Affiliates or any Sub-Contractors used in connection with this Agreement, together with a right to access
personnel and records that relate to this Agreement (“Audit”). To the extent that any Audit or any audit, inspection or review under any other provision of this Agreement by AstraZeneca requires access and review of any Commercially
Sensitive Information of Dynavax, its Affiliates or any Sub-Contractors, such activity shall be carried out by a non-Affiliate third party professional advisor appointed by AstraZeneca, and such professional advisors shall only report back to
AstraZeneca such information as is directly relevant to informing AstraZeneca on Dynavax’ compliance with the particular provisions of the Agreement being audited, reviewed or inspected. 

 

	 	18.15.2	Dynavax shall provide or procure all co-operation and assistance during normal working hours reasonably required by AstraZeneca for the purposes of an Audit.
AstraZeneca shall procure that any auditor enters into a confidentiality agreement equivalent to Section 13 in all material respects. AstraZeneca shall instruct any auditor or other Person given access in respect of an Audit to cause the
minimum amount of disruption to the business of Dynavax and its Affiliates and to comply with relevant building and security regulations. 

  
 [***] = Certain
confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

  Page
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	 	18.15.3	AstraZeneca has policies and procedures in place to monitor and review performance by its third party contractors. Dynavax shall cooperate with AstraZeneca in relation
to such monitoring and review, and shall supply all information relating to this Agreement reasonably required by AstraZeneca (or to its Auditors, in the case of Commercially Sensitive Information). The Parties shall bear their own costs of an Audit
or rendering assistance under this Section 18.15.” 

 2.8 The following Sections shall be
added after Section 20.2 as new Sections 20.2.B, 20.2.0 and 20.2. D: 
  

	 	“20.2.B	Dynavax acknowledges that its undertakings given in Section 18.6 through 18.15 are material to AstraZeneca in entering into a relationship with Dynavax.
Notwithstanding any other provision of this Section 20 or otherwise under this Agreement, if AstraZeneca becomes aware of [***] breach of any of these undertakings, then AstraZeneca shall be entitled to terminate this Agreement, and any other
agreement between the Parties, on notice with immediate effect. Subject to the accrued rights of the Parties prior to termination, AstraZeneca shall have no liability to Dynavax for any fees, reimbursements or other compensation or for any loss,
cost, claim or damage resulting, directly or indirectly, from such termination. 

  

	 	20.2.C	This Agreement may further, notwithstanding any other provision of this Section 20 or otherwise under this Agreement, be terminated upon: 

 

	 	(i)	AstraZeneca giving written notice to Dynavax in the event of [***]; 

  

	 	(ii)	AstraZeneca giving written notice to Dynavax in the event of [***].” 

  
 [***] = Certain
confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

  Page
 14
 of 25 
  

2.9 What is stated in Sections 20.7.3 and 20.7.4 regarding termination of the Agreement pursuant to Sections 20.2 or 20.3 shall
equally apply to termination pursuant to Sections 20.2.B and 20.2.C; provided, however, that should AstraZeneca terminate this Agreement with reference to Section 20.5.1 because of breach of any of Sections 18.6 through 18.15 then, for the
avoidance of doubt, what is stated in Section 20.7.3 regarding consequences of such termination shall apply instead. 
  

	3	Amendment Effective Date 

 This
Amendment shall become effective on the Amendment Effective Date. 
  

	4	Entire Agreement 

 This Amendment,
together with the Agreement, constitutes the entire agreement between the Parties with respect to the subject matter of the Agreement. The Agreement together with this Amendment supersedes all prior agreements, whether written or oral, with respect
to the subject matter of the Agreement, as amended. Each Party confirms that it is not relying on any statements, representations, warranties or covenants of any person (whether a Party to this Agreement or not) except as specifically set out in the
Agreement as amended. Nothing in this Amendment is intended to limit or exclude any liability for fraud. All Schedules referred to in this Amendment are intended to be and are hereby specifically incorporated into and made a part of the Agreement.
The Parties hereby agree that subject to the modifications specifically stated in this Amendment, all terms and conditions of the Agreement shall remain in full force and effect. 

  
 [***] = Certain
confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

  Page
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Execution 
 THIS AGREEMENT IS
EXECUTED by the authorised representatives of the Parties as of the date first written above. 
  

					
	SIGNED for and on behalf of	 	 	  	SIGNED for and on behalf of
			
	AstraZeneca AB (publ)	 	 	  	Dynavax Technologies Corporation
			
	 /s/ Anders Burén
	 	 	  	 /s/ Michael S. Ostrach

			
	Signature	 		  	Signature
			
	Name: Anders Burén	 		  	Name: Michael S. Ostrach
			
	Title: Authorised Signatory	 		  	Title: Vice President

  
 [***] = Certain
confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

  Page
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 Schedule 1 
 KEY REQUIREMENTS — EXTERNAL INTERACTIONS POLICY

  

	1.	GIVING ITEMS OF VALUE TO HCPS/HCOS/PAYERS/PUBLIC OFFICIALS 

  

	1.1	The Counterparty must respect the independence of HCPs, HCOs, HCP Service Providers, Payers and Public Officials in whatever capacity they act.

  

	1.2	The Counterparty must not seek to influence or reward HCPs, HCOs, HCP Service Providers, Payers or Public Officials in any improper way.

  

	2.	PRODUCT INFORMATION AND PROMOTION 

Counterparties engaged in any Promotion or Promotional Activity for AstraZeneca products must ensure: 

 

	 	(A)	all Promotional Activities and Promotional Materials are accurate, fair and balanced. 

 

	 	(B)	all Promotional Activities and Promotional Materials are free from ambiguity and allow the therapeutic value of AstraZeneca products to be assessed by HCPs and HCOs in
the interest of optimal patient care. 

  

	 	(C)	Promotional Activities do not compromise the independence of decisions taken by HCPs and HCOs in prescribing medicines for patients, or the recommendation, purchase,
administration, authorisation or supply of AstraZeneca products. 

  

	 	(D)	AstraZeneca Products are only promoted when the time is right to do so (which will never be before the AstraZeneca Product has been given the necessary market
approvals). Off Label uses of AstraZeneca products must never be promoted. 

  

	3.	NON-PROMOTIONAL COMMUNICATIONS REGARDING OUR PRODUCTS 

 Counterparties engaged in Non-Promotional Communications regarding AstraZeneca products: 
  

	3.1	Must support the safe and effective use of AstraZeneca products. Counterparties must not provide medical advice to members of the general public, but
Counterparties may provide Non-Promotional educational and scientific information where this is appropriate and permitted by local law. 

  

	3.2	Must never undermine the relationship between HCPs and their patients. All health-related information provided to members of the general public must be accurate,
fair, not misleading, and support HCP-patient interaction. 

  

	4.	MEETINGS AND ASSOCIATED HOSPITALITY 

 Counterparties engaged in organising meetings and associated hospitality relating to their activities for AstraZeneca must: 
  

	4.1	Ensure that every aspect of the Meeting is in keeping with the ABAC Principles, the External Interactions Policy and other AstraZeneca global policies and
standards communicated by AstraZeneca to the Counterparty, and must in any event be appropriate in all the circumstances. 

  
 [***] = Certain
confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

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	4.2	Meetings organised or sponsored by, or with the participation of, the Counterparty must always have an objectively justifiable business and/or medical education
purpose. 

  

	4.3	The venue and conduct of Meetings must always be modest, and appropriate for the business and/or medical education purpose of the Meeting.

  

	4.4	Those AstraZeneca policies concerning payment, compensation or reimbursement for the attendance of HCPs, HCOs, HCP Service Providers, Payers and/or Public
Officials at meetings which are provided to Counterparty must be strictly adhered to in all circumstances. 

  

	4.5	The venue, conduct or other arrangements made for Meetings must never be used to reward, influence or induce HCPs, HCOs, Payers or Public Officials to give the
Counterparty business or a business advantage, nor create any appearance of doing so. 

  

	5.	ENGAGING HCPS AND OTHER MEDICAL AND SCIENTIFIC CONSULTANTS TO PROVIDE SERVICES TO THE COUNTERPARTY 

 

	5.1	Interactions with HCP Service Providers must at all times be professional exchanges, designed to enhance the practice of medicine to benefit patients.

  

	5.2	Interactions with HCP Service Providers must be marked by integrity, transparency, ethical conduct and full compliance with applicable laws, regulations and
accepted industry codes of practice and the relevant AstraZeneca policies communicated to the Counterparty. 

  

	5.3	HCP Service Providers must only be engaged where there is a legitimate need for their services and the relevant person is an appropriate candidate based on their
qualifications and experience in the relevant subject matter or activity. 

  

	5.4	The level of compensation provided to an individual HCP Service Provider must not have, and must not create an impression that either Counterparty or AstraZeneca
has undue influence on that HCP Service Provider due to the level of compensation received by that HCP Service Provider or otherwise. 

  

	6.	SAMPLES 

  

	6.1	Samples of AstraZeneca products must only be distributed to enable patients, through their HCPs, to become familiar with AstraZeneca products; to enable HCPs to
gain experience with the use and prescription of an AstraZeneca product; to determine a particular patient’s response to an AstraZeneca product; or to evaluate clinical responses to an AstraZeneca product more widely. Samples must not be
distributed for any other purposes. 

  

	6.2	Samples must never be provided to HCPs for the purpose of enabling the HCP to profit or gain a business advantage from the use of the sample, or for any other
improper purpose. 

  
 [***] = Certain
confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

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	7.	DONATIONS, GRANTS, SPONSORSHIP AND PARTNERSHIPS 

  

	7.1	Counterparty should be committed to making a positive contribution to its local communities and supporting the work of others in the healthcare environment
through contributions to charities or other non-profit organisations established for research, educational and/or charitable purposes; sponsorship of activities that may enhance Counterparty’s reputation; and, working in partnership with other
organisations. 

  

	7.2	All such contributions and support by Counterparty must always be open and transparent. 

 

	7.3	Counterparty must be vigilant to ensure that any support provided in the form of Donations, Grants and Sponsorship or through Partnerships (collectively,
“Support”) does not seek to improperly influence decisions concerning the supply or use of AstraZeneca products or the conduct of Counterparty’s business more generally, and that it is not provided in circumstances where it could be
misconstrued as such. 

  

	8.	PATIENT GROUPS 

 Where Counterparty has
interactions with Patient Groups in connection with AstraZeneca products: 
  

	8.1	Counterparty must be committed to the advancement and understanding of medicines through open and transparent support of Patient Groups, which may include the
provision of Donations and Sponsorship (often comprising or including in-kind assistance) of projects designed to enhance patient welfare. 

  

	8.2	No support must be given by Counterparty to a Patient Group in order to influence decisions concerning the supply or use of AstraZeneca products, nor made in
circumstances where it could be misconstrued. 

  

	9.	MARKET RESEARCH 

 Where the Counterparty
is authorised to conduct Market Research in respect of AstraZeneca products: 
  

	9.1	Market Research activities in respect of AstraZeneca products must only be undertaken and used to address the Counterparty’s unmet information and business
needs so that it is able to make better business decisions. 

  

	9.2	Market Research activities must not be undertaken or used to promote AstraZeneca products or to reward HCPs and HCOs for their willingness to prescribe,
recommend or use the Products. 

  

	10.	NON-INTERVENTIONAL STUDIES 

  

	10.1	Counterparty must never in connection with any activities for AstraZeneca be involved in the decision to place a particular patient on a specific medicine. That
decision must be made solely by the patient’s HCP. 

  

	10.2	If there is a NIS relating to an AstraZeneca product, Counterparty must ensure the prescription of the AstraZeneca product is clearly separated from the decision to
include a patient in an NIS. NISs must not include any additional procedures (diagnostic or monitoring) and be observational in nature. All collected data must undergo a formal analysis. 

  
 [***] = Certain
confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

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	11.	INVESTIGATOR SPONSORED STUDIES 

  

	11.1	The Counterparty must recognise the importance of ISSs in expanding scientific knowledge related to potential uses of AstraZeneca products.

  

	11.2	The Counterparty may provide support to an ISS if its activities for AstraZeneca are suitable for an ISS. The Counterparty must not , be considered to be the
sponsor or undertake responsibilities which the applicable regulatory authority has designated as responsibilities of the sponsor. 

  

	12.	DEFINITIONS 

 The following capitalised
terms have the following meanings for purposes of this Schedule: 
 “Consultant” means an HCP contracted and
retained by the Counterparty to provide services to the Counterparty. 
 “Donation” means monetary or funding
given by the Counterparty to charities/non-profit organisations for which no return is required by or provided to the Counterparty. 
 “Gift” means any benefit of any kind, including but not limited to money, vouchers, goods, services or other non-financial benefits provided as a mark of appreciation or friendship.

 “Grant” means a Donation that is such for a purpose specified by the Counterparty. 

“HCO” means any healthcare organisation, which includes hospitals and other healthcare organisations, health insurers
(including managed care organisations), pharmacies and formulary or benefit administrators and relevant staff and other individuals employed by, or otherwise affiliated with, such entities who may or do prescribe, administer, recommend, purchase,
pay for, reimburse, authorise, approve or supply any AstraZeneca product or AstraZeneca service sold or provided by the Counterparty. 
 “HCP” means a healthcare professional, including any member of the medical, dental, pharmacy or nursing professions, along with their relevant associated administrative staff who may or
does prescribe, administer, recommend, purchase, pay for, reimburse, authorise, approve or supply any AstraZeneca product or AstraZeneca service sold or provided by the Counterparty. 

“HCP Service Provider” means an HCP, HCO or other medical or scientific advisor or company retained by the Counterparty
to provide contracted services. 
 “Hospitality” means meals and invitations or tickets to social,
entertainment, cultural or sporting events. 
 “ISS” means a clinical study that is independently initiated,
designed and conducted by an external investigator (who assumes both the sponsor and principal investigator role) or medical institution, collaborative research group or academic research organisation (which assumes the Sponsor role and appoints
principal investigator(s) for the study). 
 “Market Research” means the systematic gathering and interpretation
of quantitative or qualitative data on the market environment from HCPs and patients using statistical and analytical methods to gain insight and support decision making. It does not include the gathering and interpretation or ‘real world
evidence’. 

  
 [***] = Certain
confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

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 “Meeting” means a meeting attended by one or more HCPs, HCOs, Payers or Public Officials which the Counterparty has organised or sponsored or which an external organisation (e.g. a
medical society) has organised and for which the Counterparty has arranged or sponsored Speakers or Consultants. 

“NIS” means a study where the Product is prescribed in the usual manner in accordance with the terms of the marketing
authorisation. 
 “Non-Promotional Activity” means activities which are not Promotional Activities. 

“Off Label” means inconsistent with the locally authorised prescribing information for an AstraZeneca product, including
indications, uses, doses, or populations that are not included in the local marketing authorisation. 

“Partnership” means an agreement that the Counterparty enters into with an organisation to deliver specific measurable
outcomes that are solely directed to ensuring patient welfare, including partnerships with non-profit organisations to deliver outcomes that are for the public good. 
 “Patient Group” means a non-profit organisation (including umbrella organisations to which they belong) mainly composed of patients and/or caregivers that represent and/or support the
needs of patients and/or caregivers. 
 “Payer” means an entity, other than the patient, that finances or
reimburses the cost of prescription drugs or healthcare services, e.g. insurance carriers, either private or public (governmental), health plans, or health plan sponsors (employers or unions). 

“Promotion,” “Promotional” and “Promotional Activity” means any activity undertaken,
organised or sponsored by or on behalf of the Counterparty that is intended to promote the prescription, recommendation, supply, administration, sale or consumption of an AstraZeneca products or services through all media, including the internet.

 “Promotional Materials” means any Promotional items or communications that mention an AstraZeneca product
name or contain AstraZeneca product or medical information, which are intended for use with, or dissemination to, HCPs and HCOs in a promotional manner. 
 “Public Officials” are individuals who (i) hold a legislative, administrative or judicial position of any kind whether appointed or elected; (ii) exercise a public function for
a country or territory, or any public agency or public enterprise of that country or territory; or (iii) act as an official or agent of a public international organisation. 

“Sample” means a unit of an AstraZeneca pharmaceutical product that is not to be sold but is provided free of charge to
an HCP to allow the HCP and an appropriate patient to determine tolerability and effectiveness of the AstraZeneca product. 

“Speaker” means an HCP Service Provider engaged by the Counterparty to speak on behalf of the Counterparty at a Meeting.

 “Sponsorship” means the provision of funding in monetary or non-monetary form for an activity or initiative
where the Counterparty’s name is associated with the activity, the funding is dedicated to a certain pre-defined initiative/activity and the Counterparty may receive an opportunity to engage in certain activities in association with the
sponsorship that may enhance its reputation (such as providing an exhibition stand at a meeting). 

  
 [***] = Certain
confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

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 Schedule 2 
 Phase 1 Study Plan 

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 [***] = Certain
confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

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 [***] = Certain
confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

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 Schedule 3 
 Phase 2a Study Plan 

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 [***] = Certain
confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

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 Schedule 4 
 Phase 2a Manufacturing Services 

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 [***] = Certain
confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

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 Schedule 5 
 12 week Toxicology Studies in Mice and Non-human Primates

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 [***] = Certain
confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.

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