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EXHIBIT 4.12

IOMAI CORPORATION

REGISTRATION RIGHTS AGREEMENT

     This REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made as of January 4, 2001, by and
between IOMAI CORPORATION, a Delaware corporation (the “Company”), and Alexandria Real Estate
Equities, L.P., a Delaware limited partnership(“ARE”).

W I T N E S S E T H:

     WHEREAS, pursuant to a Warrant to Purchase Shares of Common Stock of even date herewith by and
between the Company and ARE (the “Warrant”), ARE has acquired the right to purchase up to 30,000
shares (the “Shares”) of common stock, par value $.01 per share (the “Common Stock”), of the
Company;

     WHEREAS, it is a condition to the effectiveness of the Warrant that the parties execute and
deliver this Agreement; and

     WHEREAS, the parties desire to set forth herein their agreement related to the granting of
certain registration rights to the Holders (as defined below) with respect to Registrable
Securities (as defined below).

A G R E E M E N T

     NOW, THEREFORE, the parties hereto hereby agree as follows:

ARTICLE I

DEFINITIONS

     Section 1.01 Certain Definitions. As used in this Agreement, the following terms shall have
the following respective meanings:

     “Affiliate” of any Person shall mean any other Person controlling, controlled by or
under common control with such Person. In the case of a natural Person, such Person’s
Affiliates shall include members of such Person’s immediate family, natural lineal
descendants of such Person or a trust for the exclusive benefit of such Person and such
Person’s immediate family and natural lineal descendants.

     “Commission” shall mean the U.S. Securities and Exchange Commission or any other
federal agency at the time administering the Securities Act.

     “Exchange Act” shall mean the U.S. Securities Exchange Act of 1934, as amended, or any
similar federal statute and the rules and regulations of the Commission thereunder, all as
the same shall be in effect at the time.

 

 

     “Holders” or “Holders of Registrable Securities” shall mean ARE and any Person who
shall have acquired Registrable Securities from ARE as permitted herein, either individually
or jointly as the case may be.

     “Person” shall mean an individual, a partnership, a company, an association, a joint
stock company, a trust, a joint venture, an unincorporated organization and a governmental
quasi-governmental entity or any department, agency or political subdivision thereof.

     “Registrable Securities” means (i) the Shares issuable under the Warrant and (ii) any
Common Stock or other securities issued or issuable in respect of the Shares, issued in
accordance with the Warrant, or upon any stock split, stock dividend, recapitalization or
similar event; excluding in all cases, however, any Registrable Securities sold by a Person
in a transaction (including a transaction pursuant to a registration statement under this
Agreement and a transaction pursuant to Rule 144 promulgated under the Securities Act) in
which registration rights are not transferred pursuant to Section 7.02 hereof.

     The term “register,” “registered” and “registration” refer to a registration of
securities effected by preparing and filing a registration statement in compliance with the
Securities Act, and the declaration or ordering of the effectiveness of such registration
statement.

     “Registration Expenses” shall mean all expenses, other than Selling Expenses, incurred
by the Company in complying with Article II hereof, including without limitation, all
registration, qualification and filing fees, exchange listing fees, printing expenses,
escrow fees, fees and disbursements of counsel for the Company, blue sky fees and expenses,
and the expense of any special audits incident to or required by any such registration and
the reasonable fees and expenses, not to exceed $10,000 in the aggregate, of one counsel for
the stockholders participating in such offering, such counsel to be selected by holders of
the majority of the securities to be included in such registration.

     “Securities Act” shall mean the U.S. Securities Act of 1933, as amended, or any similar
federal statute and the rules and regulations of the Commission thereunder, all as the same
shall be in effect at the time.

     “Selling Expenses” shall mean all underwriting discounts, selling commissions and stock
transfer taxes applicable to the securities registered by the Holders and the costs of any
accountants, counsel or other experts retained by the Holders, except as provided in the
definition of Registration Expenses.

ARTICLE II

PIGGYBACK REGISTRATIONS

     Section 2.01 Right to Piggyback. If at any time the Company shall propose to register Common
Stock under the Securities Act, including but not limited to times when the Company is

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prompted to register based on demand registration rights of any other holder of registrable
securities of the Company (other than in a registration on Form S-3 relating to sales of securities
to participants in a Company dividend reinvestment plan, Forms S-4 or S-8 or any successor form or
in connection with an acquisition or exchange offer or an offering of securities solely to the
existing stockholders or employees of the Company) (each, a “Piggyback Registration”), the Company
shall give prompt written notice to all Holders of Registrable Securities of its intention to
effect such a registration and, subject to Section 2.02(b) and any other terms of this Agreement,
shall include in such registration all Registrable Securities which are permitted under applicable
securities laws to be included in the form of registration statement selected by the Company and
with respect to which the Company has received written requests for inclusion therein within
fifteen (15) days after the receipt of the Company’s notice.

     Section 2.02 Priority on Piggyback Registrations. If a Piggyback Registration is an
underwritten registration on behalf of the Company, and the managing underwriters advise the
Company in writing that in their opinion the number of securities requested to be included in such
registration exceeds the number which can be sold in such offering without adversely affecting the
marketability of the offering, the Company will include in such registration:

               (a) first, the securities the Company proposes to sell;

               (b) second, any securities having the right to be included in such registration prior to the
securities of the Holders by reason of any written agreement;

               (c) third, the Registrable Securities requested to be included in such registration by the
Holders and any securities requested to be included in such registration by any other Person, pro
rata among the Holders of such Registrable Securities and such other Persons, on the basis of the
number of shares owned by each of such Holders and other Persons; and

               (d) thereafter, other securities requested to be included in such registration.

     The Holders of any Registrable Securities included in such a registration must execute an
underwriting agreement in form and substance satisfactory to the managing underwriters.

     Section 2.03 Right to Terminate Registration. If, at any time after giving written notice of
its intention to register any of its securities as set forth in Section 2.01 and prior to the
effective date of the registration statement filed in connection with such registration, the
Company shall determine for any reason not to register such securities, the Company may, at its
election, give written notice of such determination to each Holder of Registrable Securities and
thereupon be relieved of its obligation to register any Registrable Securities in connection with
such registration (but not from its obligation to pay the Registration Expenses in connection
therewith as provided herein).

     Section 2.04 Selection of Underwriters. The Company will have the right to select the
investment banker(s) and manager(s) to administer an offering pursuant to a Piggyback Registration.

     Section 2.05 Subsequent Registrability of Shares. The Company agrees that if ARE purchases
additional securities of the Company in a subsequent offering pursuant to the terms of

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that certain equity participation rights agreement dated as of the date hereof and, pursuant
to such offering, the offerees therein generally receive the right to register the securities
offered to them (the “Offered Securities”), then the Company shall cause such registration rights
agreement to include the Registrable Securities issuable under the Warrant (and thereby grant
identical registration rights to the Registrable Securities and Offered Securities), after which
time this Agreement shall terminate.

ARTICLE III

EXPENSES OF REGISTRATION

     Section 3.01 Expenses of Registration. All Registration Expenses incurred in connection with
all registrations pursuant to Article II shall be borne by the Company. All Selling Expenses
relating to securities registered on behalf of the Holders of Registrable Securities shall be borne
by such Holders.

ARTICLE IV

HOLDBACK AGREEMENTS

     Section 4.01 Company Standstill. The Company agrees and agrees to cause its officers and
directors (i) not to effect any public sale or distribution of its equity securities, or any
securities convertible into or exchangeable or exercisable for such securities, during the seven
(7) days prior to, and during the ninety (90) day period beginning on, the effective date of any
underwritten Piggyback Registration (except as part of such underwritten registration or pursuant
to registrations on Form S-8 or any successor form), unless the underwriters managing the
registered public offering otherwise agree, and (ii) to use reasonable efforts to cause each holder
of at least five percent (5%) (on a fully diluted basis) of its Common Stock, or any securities
convertible into or exchangeable or exercisable for Common Stock, purchased from the Company at any
time after the date of this Agreement (other than in a registered public offering) to agree not to
effect any public sale or distribution (including sales pursuant to Rule 144 under the Securities
Act) of any such securities during such periods (except as part of such underwritten registration,
if otherwise permitted), unless the underwriters managing the registered public offering otherwise
agree.

     Section 4.02 Holder Lockups. Each Holder agrees, if requested by the managing underwriter or
underwriters in an underwritten offering of securities of the Company, except in accordance with
the Warrant, not to effect any offer, sale, distribution or transfer of Registrable Securities,
including a sale pursuant to Rule 144 (or any similar provision then in effect) under the
Securities Act (except as part of such underwritten registration), during the seven (7) day period
prior to, and during ninety (90)-day period beginning on, the effective date of such registration
statement to the extent timely notified in writing by the Company or the managing underwriter or
underwriters; provided, however, that if the managing underwriter or underwriters cause the
Company’s officers and directors to not to effect any such offer, sale, distribution or transfer of
Registrable Securities for a period longer than ninety (90) days, then the restrictions in this
Section 4.02 shall be extended to match the period required of the Company’s officers and

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directors; provided, further, that such period shall not exceed one hundred eighty (180) days
in any event.

ARTICLE V

REGISTRATION PROCEDURES

     Section 5.01 Registration Procedures. Whenever the Holders of Registrable Securities have
requested that any Registrable Securities be registered pursuant to this Agreement, the Company
will use its best efforts to effect the registration and the sale of such Registrable Securities in
accordance with the intended method of distribution thereof, and pursuant thereto the Company will
as expeditiously as possible:

               (a) Prepare and file with the Commission a registration statement on any form for which the
Company qualifies with respect to such Registrable Securities and use its best efforts to cause
such registration statement to become effective (provided that before filing a registration
statement or prospectus or any amendments or supplements thereto, the Company will (i) furnish to
the counsel selected by the Holders copies of all such documents proposed to be filed, which
documents will be subject to the review of such counsel, and (ii) notify each Holder of Registrable
Securities covered by such registration of any stop order issued or threatened by the Commission);

               (b) Prepare and file with the Commission such amendments and supplements to such registration
statement and the prospectus used in connection therewith as may be necessary to keep such
registration statement effective for a period equal to the shorter of (i) six (6) months and (ii)
the time by which all securities covered by such registration statement have been sold, and comply
with the provisions of the Securities Act with respect to the disposition of all securities covered
by such registration statement during such period in accordance with the intended methods of
disposition by the sellers thereof set forth in such registration statement;

               (c) Furnish to each seller of Registrable Securities such number of copies of such
registration statement, each amendment and supplement thereto, the prospectus included in such
registration statement (including each preliminary prospectus) and such other documents as such
seller may reasonably request in order to facilitate the disposition of the Registrable Securities
owned by such seller;

               (d) Use its best efforts to register or qualify such Registrable Securities under such other
securities or blue sky laws of such jurisdiction as any seller reasonably requests and do any and
all other acts and things which may be reasonably necessary or advisable to enable such seller to
consummate the disposition in such jurisdictions of the Registrable Securities owned by such seller
(provided that the Company will not be required to (i) qualify generally to do business in any
jurisdiction where it would not otherwise be required to qualify but for this Section 5.01(d), (ii)
subject itself to taxation in any jurisdiction or (iii) consent to general service of process in
any such jurisdiction);

               (e) Notify each seller of such Registrable Securities, at any time when a prospectus relating
thereto is required to be delivered under the Securities Act, of the happening

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of any event as a result of which the prospectus included in such registration statement
contains an untrue statement of a material fact or omits any fact necessary to make the statements
therein not misleading, and, at the request of any such seller, the Company will prepare a
supplement or amendment to such prospectus so that, as thereafter delivered to the purchasers of
such Registrable Securities, such prospectus will not contain an untrue statement of a material
fact or omit to state any fact necessary to make the statements therein not misleading; provided
that the Company shall not be required to amend the registration statement or supplement the
prospectus for a period of up to six (6) months, if the board of directors of the Company (the
“Board”) determines in good faith that to do so would reasonably be expected to have a material
adverse effect on any proposal or plan by the Company to engage in any financing, acquisition or
disposition of assets (other than in the ordinary course of business) or any merger, consolidation,
tender offer or similar transaction or would require the disclosure of any information that the
Board determines in good faith the disclosure of which would be detrimental to the Company, it
being understood that the period for which the Company is obligated to keep the registration
statement effective shall be extended for a number of days equal to the number of days the Company
delays amendments or supplements pursuant to this provision; provided further, that the Board may
exercise the foregoing right to delay amendments or supplements only once in any twelve (12) month
period. Upon receipt of any notice pursuant to this Section 5.01(e) Holders shall suspend all
offers and sales of securities of the Company and all use of any prospectus until advised by the
Company that offers and sales may resume, and shall keep confidential the fact and content of any
notice given by the Company pursuant to this Section 5.01(e);

               (f) Cause all such Registrable Securities to be listed on each securities exchange on which
similar securities issued by the Company are then listed;

               (g) Provide a transfer agent and registrar for all such Registrable Securities not later than
the effective date of such registration statement;

               (h) Enter into such customary agreements (including underwriting agreements in customary form)
and take all such other actions as the Holders of a majority of the Registrable Securities being
sold or the underwriters, if any, reasonably request in order to expedite or facilitate the
disposition of such Registrable Securities (including without limitation, effecting a stock split
or a combination of shares);

               (i) Make available for inspection by a representative of the Holders of Registrable Securities
included in the registration statement, any underwriter participating in any disposition pursuant
to such registration statement and any attorney, accountant or other agent retained by any such
seller or underwriter, all pertinent financial and other records, pertinent corporate documents and
properties of the Company, and cause the Company’s officers, directors, employees and independent
accountants to supply all information reasonably requested by any such seller, underwriter,
attorney, accountant or agent in connection with such registration statement;

               (j) Otherwise use its reasonable efforts to comply with all applicable rules and regulations
of the Commission, and make available to its security holders, as soon as reasonably practicable,
an earning statement covering the period of at least twelve (12) months beginning

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after the effective date of the registration statement, which earning statement shall satisfy
the provisions of section 11(a) of the Securities Act and Rule 158 thereunder;

               (k) In the event of the issuance of any stop order suspending the effectiveness of a
registration statement, or of any order suspending or preventing the use of any related prospectus
or suspending the qualification of any Common Stock included in such registration statement for
sale in any jurisdiction, notify the Holders thereof and use its best efforts promptly to obtain
the withdrawal of such order; and

               (l) Take all other steps reasonably necessary to effect the registration and/or qualification
of the Registrable Securities contemplated hereby.

ARTICLE VI

INDEMNIFICATION

     Section 6.01 Indemnification.

               (a) The Company agrees to indemnify, to the fullest extent permitted by applicable law, each
Holder of Registrable Securities, its officers and directors and each Person who controls such
Holder (within the meaning of the Securities Act) against all losses, claims, damages, liabilities,
expenses or any amounts paid in settlement of any litigation, investigation or proceeding commenced
or threatened (collectively, “Claims”) to which each such indemnified party may become subject
under the Securities Act insofar as such Claim arose out of (i) any untrue or alleged untrue
statement of material fact contained, in any registration statement, prospectus or preliminary
prospectus or any amendment thereof or supplement thereto, or (ii) any omission or alleged omission
to state therein a material fact required to be stated therein or necessary to make the statements
therein not misleading, except insofar as the same are caused by or contained in any information
furnished in writing to the Company by such Holder expressly for use therein or by such Holder’s
failure to deliver a copy of the prospectus or any amendments or supplements thereto after the
Company has furnished such Holder with a sufficient number of copies of the same. In connection
with an underwritten offering, the Company will indemnify such underwriters, their officers and
directors and each Person who controls such underwriters (within the meaning of the Securities Act)
to the same extent as provided above with respect to the indemnification of the Holders of
Registrable Securities.

               (b) In connection with any registration statement in which a Holder of Registrable Securities
is participating, each such Holder will furnish to the Company in writing such customary
information and affidavits, as the Company reasonably requests for use in connection with any such
registration statement or prospectus (the “Seller’s Information”) and, to the fullest extent
permitted by applicable law, will indemnify the Company, its directors and officers and each Person
who controls the Company (within the meaning of the Securities Act) against any and all Claims to
which each such indemnified party may become subject under the Securities Act insofar as such Claim
arose out of (i) any untrue statement of material fact contained, on the effective date thereof, in
any registration statement, prospectus or preliminary prospectus or any amendment thereof of
supplement thereto, or (ii) any omission to state therein a material fact required to be stated
therein or necessary to make the statements therein not misleading;

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provided that the material misstatement or omission is contained in such Seller’s Information;
provided further, that such Holder’s indemnification obligation pursuant to clause (i) or (ii)
above shall not be applicable in the event that the Holder corrected the information that would
otherwise result in such indemnification obligation in a final or supplemental prospectus and the
Person asserting an indemnification claim hereunder failed to deliver such final or supplemental
prospectus. Notwithstanding any other provision of this Agreement, the obligation to indemnify
will be individual to each Holder and will be limited to the net amount of proceeds received by
such Holder from the sale of Registrable Securities pursuant to such registration statement.

               (c) Any Person entitled to indemnification hereunder shall (i) give prompt written notice to
the indemnifying party of any Claim with respect to which it seeks indemnification (but the failure
to provide such notice, shall not release the indemnifying party of its obligation under paragraphs
(a) and (b), unless and then only to the extent that, the indemnifying party has been prejudiced by
such failure to provide such notice) and (ii) unless in such indemnified party’s reasonable
judgment a conflict of interest between such indemnified and indemnifying parties may exist with
respect to such Claim, permit such indemnifying party to assume the defense of such Claim with
counsel reasonably satisfactory to the indemnified party. An indemnifying party who is not
entitled to, or elects not to, assume the defense of a Claim will not be obligated to pay the fees
and expenses of more than one counsel for all parties indemnified by such indemnifying party with
respect to such Claim, unless in the reasonable judgment of any indemnified party a conflict of
interest may exist between such indemnified party and any other of such indemnified parties with
respect to such Claim.

               (d) The indemnifying party shall not be liable to indemnify an indemnified party for any
settlement, or consent to judgment of any such action effected without the indemnifying party’s
consent (but such consent will not be unreasonably withheld or delayed). Furthermore, the
indemnifying party shall not, except with the approval of each indemnified party, consent to entry
of any judgment or enter into any settlement which does not include as an unconditional term
thereof the giving by the claimant or plaintiff to each indemnified party of a release from all
liability in respect to such Claim without any payment or consideration provided by each such
indemnified party.

               (e) If the indemnification provided for in this Article VI is unavailable to an indemnified
party under clauses (a) and (b) above in respect of any Claims, referred to therein, then each
indemnifying party, in lieu of indemnifying such indemnified party, shall contribute to the amount
paid or payable by such indemnified party as a result of such Claims, in such proportion as is
appropriate to reflect not only the relative benefits received by the Company, the underwriters,
the sellers of Registrable Securities and any other sellers participating in the registration
statement from the sale of shares pursuant to the registered offering of securities to which
indemnity is sought but also the relative fault of the Company, the underwriters, the sellers of
Registrable Securities and any other sellers participating in the registration statement in
connection with the statement or omissions which resulted in such Claims, as well as any other
relevant equitable considerations. The relative benefits received by the Company, the
underwriters, the sellers of Registrable Securities and any other sellers participating in the
registration statement shall be deemed to be based on the relative relationship of the total net
proceeds from the offering (before deducting expenses) to the Company, the total underwriting
commissions and fees from the offering (before deducting expenses) to the underwriters and the

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total net proceeds from the offering (before deducting expenses) to the sellers of Registrable
Securities and any other sellers participating in the registration statement. The relative fault
of the Company, the underwriters, the sellers of Registrable Securities and any other sellers
participating in the registration statement shall be determined by reference to, among other
things, whether the untrue or alleged untrue statement of a material fact or the omission or
alleged omission to state a material fact relates to information supplied by the Company or by
registration statement and the parties’ relative intent, knowledge, access to information and
opportunity to correct or prevent such statement or omission.

               (f) The indemnification provided for under this Agreement will remain in full force and effect
regardless of any investigation made by or on behalf of the indemnified party or any officer,
director or controlling person of such indemnified party and will survive the transfer of the
securities subject to this Agreement.

ARTICLE VII

MISCELLANEOUS

     Section 7.01 Participation in Underwritten Registrations. No Person may participate in any
registration hereunder which is underwritten unless such Person (i) agrees to sell such Person’s
securities on the basis provided in any underwriting arrangements approved by the Person or Persons
entitled hereunder to approve such arrangements, (ii) as expeditiously as possible notifies the
Company of the occurrence of any event as a result of which such prospectus contains an untrue
statement of material fact or omits to state a material fact required to be stated therein or
necessary to make the statements therein not misleading and (iii) completes and executes all
questionnaires, powers of attorney, indemnities, underwriting agreements and other documents
reasonably required under the terms of such underwriting arrangements.

     Section 7.02 Transfer of Registration Rights. The rights granted to any Person under this
Agreement may be assigned to a transferee or assignee who is an Affiliate of such Person in
connection with any transfer or assignment of Shares by a Holder; provided, that: (i) such
transfer may otherwise be effected in accordance with applicable securities laws, (ii) if not
already a party hereto, the assignee or transferee agrees in writing prior to such transfer to be
bound by the provisions of this Agreement applicable to the transferor and (iii) ARE shall act as
agent and representative for such Holder for the giving and receiving of notices hereunder.

     Section 7.03 Information by Holder. Each Holder shall furnish the Company such written
information regarding such Holder and any distribution proposed by such Holder as the Company may
reasonably request in writing and as shall be reasonably required in connection with any
registration qualification or compliance referred to in this Agreement.

     Section 7.04 Exchange Act Compliance. From and after such time that the Company is subject to
the Exchange Act the Company shall (i) comply with all of the reporting requirements of the
Exchange Act applicable to it and shall comply with all other public information reporting
requirements of the Commission which are conditions to the availability of Rule 144 for the sale of
the Registrable Securities and (ii) cooperate with each Holder in

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supplying such information as may be necessary for such Holder to complete and file any
information reporting forms presently or hereafter required by the Commission as a condition to the
availability of Rule 144.

     Section 7.05 Limitation on Registration. The Company shall not be obligated to effect a
registration of any Holder’s Registrable Securities pursuant to Article II hereof if all of the
Registrable Securities have been sold under Rule 144, Regulation S or a similar provision under the
Securities Act so that there is no further restriction on the transfer by the transferee. The
Company shall not be required to include any Registrable Securities of a Holder in a registration
if all of such Holder’s Registrable Securities could be sold within a three (3) month period
pursuant to Rule 144 or other similar rule or regulation under the Securities Act.

     Section 7.06 No Inconsistent Agreements. The Company will not hereafter enter into any
agreement with respect to its securities which is inconsistent with or violates the rights granted
to the Holders of Registrable Securities in this Agreement without the prior written consent of the
Holders of at least fifty percent (50%) Registrable Securities.

     Section 7.07 Remedies. Any Person having rights under any provision of this Agreement will be
entitled to enforce such rights specifically to recover damages caused by reason of any breach of
any provision of this Agreement and to exercise all other rights granted by law. The parties
hereto agree and acknowledge that money damages may not be an adequate remedy for any breach of the
provisions of this Agreement and that any party may in its sole discretion apply to any court of
law or equity of competent jurisdiction (without posting any bond or other security) for specific
performance and for other injunctive relief in order to enforce or prevent violation of the
provisions of this Agreement; provided that in no event shall any Holder have the right to enjoin
or interfere with any offering of securities by the Company.

     Section 7.08 Amendments and Waivers. Except as otherwise provided herein, the provisions of
this Agreement may be amended or waived only upon the prior written consent of the Company and
Holders of at least fifty percent (50%) of the Registrable Securities; provided, that without the
prior written consent of all the Holders, no such amendment or waiver shall reduce the foregoing
percentage.

     Section 7.09 Successors and Assigns. All covenants and agreements in this Agreement by or on
behalf of any of the parties hereto will bind and inure to the benefit of the respective successors
and assigns of the parties hereto whether so expressed or not. In addition, whether or not any
express assignment has been made, the provisions of this Agreement which are for the benefit of
Holders of Registrable Securities are also for the benefit of, and enforceable by, any permitted
transferee of the Holders’ rights hereunder.

     Section 7.10 Severability. Whenever possible, each provision of this Agreement will be
interpreted in such manner as to be effective and valid under applicable law, but if any provision
of this Agreement is held to be prohibited by or invalid under applicable law, such provision will
be ineffective only to the extent of such prohibition or invalidity, without invalidating the
remainder of this Agreement.

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     Section 7.11 Counterparts. This Agreement may be executed simultaneously in two or more
counterparts, any one of which need not contain the signatures of more than one party, but all such
counterparts taken together will constitute one and the same Agreement.

     Section 7.12 Descriptive Headings. The descriptive headings of this Agreement are inserted
for convenience only and do not constitute a part of this Agreement

     Section 7.13 Governing Law. All questions concerning the construction, validity and
interpretation of this Agreement and the exhibits and schedules hereto will be governed by the
internal law, and not the law of conflicts, of State of Delaware. Each of the parties hereby
irrevocably submits to the jurisdiction of any court sitting in the State of Delaware over any
action or proceeding arising out of or relating to this Agreement and each thereby waives the
defense of an inconvenient forum for the maintenance of such an action.

     Section 7.14 Notices. All notices, demands and requests of any kind to be delivered to any
party in connection with this Agreement shall be in writing and shall be deemed to have been duly
given if personally delivered or if sent by nationally recognized overnight courier or by
registered or certified airmail, return receipt requested and postage prepaid, addressed as
follows:

	 	 	 	 	 	 	 
	 

	 	if to the Company, to:
	 	Iomai Corporation
	 	 
	 

	 	 	 	2421 Pennsylvania Avenue, NW	 	 
	 

	 	 	 	Washington, DC 20037-1718	 	 
	 

	 	 	 	Attention: President	 	 
	 
	 	 	 	 	 	 
	 

	 	with a copy to:
	 	Pillsbury Madison & Sutro LLP	 	 
	 

	 	 	 	8330 Boone Boulevard	 	 
	 

	 	 	 	Suite 400	 	 
	 

	 	 	 	Vienna, Virginia 22182	 	 
	 

	 	 	 	Attention: Jonathan M. Aberman, Esq.	 	 
	 
	 	 	 	 	 	 
	 

	 	if to ARE to:
	 	Alexandria Real Estate Equities L.P.	 	 
	 

	 	 	 	135 N. Los Robles Avenue, Suite 250	 	 
	 

	 	 	 	Pasadena, CA 91101	 	 
	 

	 	 	 	Attention: Laurie A. Allen, Esq.	 	 
	 
	 	 	 	 	 	 
	 

	 	with a copy to:
	 	Mayer, Brown & Platt	 	 
	 

	 	 	 	350 South Grand Avenue	 	 
	 

	 	 	 	25th Floor	 	 
	 

	 	 	 	Los Angeles, CA 90071-1503	 	 
	 

	 	 	 	Attention: James R. Walther, Esq.	 	 

     Section 7.15 Termination. This Agreement shall terminate on the date as of which there is no
Holder of Registrable Securities.

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     IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above.

	 	 	 	 	 	 	 	 	 
	 	 	ALEXANDRIA REAL ESTATE EQUITIES, L.P.,
	 	 	 	 	a Delaware limited partnership
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	ARE-QRS CORP.,
	 	 	 	 	 	 	general partner
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:	 	/s/ Laurie A. Allen
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Name:	 	Laurie A. Allen
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Title:	 	Senior Vice President Business
Development & Legal Affairs
	 

	 	 	 	 	 	 	 	 

	 	 	 	 	 	 	 	 	 
	 	 	IOMAI CORPORATION,	 	 
	 	 	 	 	a Delaware corporation	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	/s/ Stanley C. Erck	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	  Stanley C. Erck	 	 
	 

	 	 	 	 	 	  Chief Executive Officer and President	 	 

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Exhibit 10.1

EMPLOYMENT AGREEMENT

     THIS EMPLOYMENT AGREEMENT (the “Agreement”) is entered into as of May 18, 2000 (the “Effective
Date”), by and between Stanley Erck, an individual resident of the State of Massachusetts (“you”)
and Iomai Corporation, a Delaware corporation (the “Company”).

     WHEREAS, you wish to enter into an employment agreement setting forth certain rights and
benefits regarding your employment by the Company;

     WHEREAS, your title shall be President and Chief Executive Officer of the Company and you
shall be a member of the Company’s Board of Directors;

     WHEREAS, you are willing to commence your employment based on your particular qualifications,
on the condition that the Company enter into this Agreement and perform all of its responsibilities
hereunder; and

     WHEREAS, you will receive substantial benefits from the entry into this Agreement by the
Company, and agree that you shall fully perform all of your responsibilities and duties and
strictly observe all of your obligations hereunder.

     NOW, THEREFORE, in consideration of your employment by the Company and the compensation to be
paid by the Company to you in accordance with this Agreement and for other good and valuable
consideration, the receipt of which is hereby acknowledged, you and the Company hereby agree as
follows:

1. Position and Responsibilities.

     (a) Position. In accordance with this Agreement, the Company agrees to continue your
employment throughout the Term (defined below). You shall report to the Company’s Board of
Directors (including any committee of the Board of Directors with supervisory authority regarding
the Company’s employees, the “Board”).

     (b) Responsibilities. You shall devote your full business efforts and time to the
Company and perform the duties and responsibilities assigned to you in accordance with the
standards and policies that the Board may from time to time establish and in accordance with the
duties and responsibilities commensurate with your position with the Company as determined in
accordance with the Company’s constitutive documents and applicable law. Your position with the
Company and responsibilities as of the date hereof are set forth in Exhibit A hereto. At its
option, the Board shall provide amendments to Exhibit A from time to time to reflect modifications
to your position or responsibilities. You shall not render services to any other person or entity
without the prior written consent of the Board; provided that the Company hereby consents to your
service as a member of the board of directors of the Molecular Immunology Foundation. The
foregoing, however, shall not preclude you from engaging in appropriate civic, charitable or
religious activities or from devoting a reasonable amount of time to private investments that do
not interfere or conflict with your duties and responsibilities to the Company. You and the
Company agree that your position is essential to the Company’s success and that the highest level
of performance is required from you.

 

 

     (c) Board Membership. On or about the Effective Date you shall be appointed to the
Board.

2. Term of Employment. The Company agrees to continue your employment, and you agree to
remain in employment with the Company, from the Effective Date until the date your employment
terminates pursuant to this Agreement (such period being hereinafter defined as the “Term”). Any
waiver of notice shall be valid only if it is made in writing and expressly refers to the notice
requirement set forth in Section 17(a) below.

3. Compensation.

     (a) Base Compensation. You shall be entitled to receive base compensation during the
Term (“Base Compensation”). Your initial Base Compensation shall be at the annual rate of
$200,000, which shall be increased to an annual rate of $250,000 upon completion of a Qualified
Financing (as defined herein). In addition, your Base Compensation may be modified at any time
after May 18, 2001 at the discretion of the Board in accordance with performance criteria to be
determined by the Board in its sole discretion. Base Compensation shall be paid on the same dates
as the Company makes payroll payments, less deductions required by law.

     (b) Bonus Compensation. During the Term, you may be entitled to receive additional
cash bonus payments (less deductions required by law) (“Bonus Compensation”). Bonus Compensation
shall be determined by the Board, from time to time in accordance with performance criteria adopted
by the Board. For the first year of the term, you shall be eligible to receive Bonus Compensation
of up to $100,000, $50,000 of which shall be payable immediately upon the Company obtaining $5
million in the aggregate from one or more financing sources prior to the first anniversary of the
Effective Date, excluding any amounts obtained from Mitsubishi and Taisho within 90 days of the
Effective Date (the “Qualified Financing”) and the remaining $50,000 of which shall be payable in
accordance with written performance criteria, to be agreed to by you and the Board not later than
July 1, 2000, and paid upon accomplishment of such criteria.

     (c) Stock Compensation. In addition to the compensation set forth in Sections 3 (a)
and (b) above, as of the date of this Agreement, you shall receive an initial grant of options to
purchase common stock, of the Company (“Common Stock”) in accordance with the Stock Option
Agreement attached as Exhibit B hereto. In addition upon the completion of the Qualified Financing
the Company agrees to provide to you an additional grant of options to purchase Common Stock at the
then fair market value in an amount sufficient to bring your fully diluted contingent ownership of
common stock (including common stock equivalents) to 7% after the completion of a Qualified
Financing, when taking into account in the aggregate your shares plus all fully diluted common
stock equivalents. Your options shall be governed by the Company’s 1999 Stock Incentive Plan and
the applicable Stock Option Agreement and shall vest under the Company’s standard vesting schedule,
provided that the Company agrees that (i) in the event of a Change of Control, (ii) if your
employment with the Company is terminated by the Company for other than Cause (as defined below) or
(iii) if you terminate your employment with the Company for Good Reason (as defined herein), all of
your unvested options shall immediately vest and become exercisable.

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     (d) Incentive Compensation. In addition to the benefits described hereof, at the sole
discretion of the Board, you will be entitled to participate in any stock option, deferred
compensation, stock appreciation right, phantom stock or other incentive plan established by the
Company for the benefit of its employees subject to eligibility requirements.

     (e) Definition of Change in Control. For all purposes under this Agreement, and the
related stock options granted pursuant to this Agreement,
“Change in Control” shall mean the
occurrence of any of the following events after the Effective Date:

(i) The acquisition, other than from the Company (which term for purposes of this
Subsection (i) includes any successor corporation), or any subsidiary thereof by any
person or group (as such terms are used for the purposes of Sections 13(d) or 14(d)
of the Securities Exchange Act of 1934, as amended (the
“1934 Act”)) of beneficial
ownership (within the meaning of Rule 13d-3 promulgated under the 1934 Act) of
securities with voting power equal to fifty percent (50%) or more of the combined
voting power of the Company’s then outstanding voting securities;

(ii) The individuals who, as of the Effective Date, are members of the Board and who
have remained members of the Board (the “Incumbent
Board”), cease for any reason to
constitute at least one-half of the Board; provided, however, that if the
appointment or election, or nomination for election by the Company’s stockholders,
of any new director was approved by a vote of at least one-half of the directors who
then constitute the Incumbent Board, such new director shall be considered a member
of the Incumbent Board; or

(iii) Approval by the company’s stockholders of (a) a merger or consolidation of the
Company with or into another corporation if the stockholders of the Company,
immediately before such merger or consolidation do not, immediately after such
merger or consolidation, own, directly or indirectly, more than fifty percent (50%)
of the combined voting power of the then outstanding voting securities of the
corporation resulting from such merger or consolidation in substantially the same
proportion as their ownership of the combined voting power of the voting securities
of the Company outstanding immediately before such merger or consolidation or (b)
dissolution of the Company or an agreement for the sale or other disposition of all
or substantially all of the assets of the Company.

     Notwithstanding the foregoing, a Change in Control shall not be deemed to occur solely because
fifty percent (50%) or more of the combined voting power of the Company’s then outstanding
securities is acquired by (i) a trustee or other fiduciary holding securities under one or more
employee benefit plans maintained by the Company or any of its subsidiaries or (ii) any corporation
which, immediately prior to such acquisition, is owned directly or indirectly by the stockholders
of the Company in the same proportion as their ownership of stock in the Company immediately prior
to such acquisition.

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     For purposes of this Subsection (b), the Company’s stockholders are deemed to be the indirect
owners of any assets, including stock interests, held by the Company or any subsidiary thereof.

4. Reimbursement of Expenses. The Company shall reimburse you, in accordance with the
Company’s policies, for all reasonable travel and lodging expenses necessarily incurred and paid by
you in the course of performing the duties and responsibilities commensurate with your position
with the Company under this Agreement.

5. Employee Benefits.

     (a) In General. Except as otherwise provided in this Agreement, during the Term, you
shall be eligible to participate in the employee benefit plans that the Company may provide,
including but not limited to the Company’s health and dental insurance plans and 401K plan, subject
in each case to the generally applicable terms and conditions of the plan or program in question
and to the determinations of any person or committee administering such plan or program.

     (b) Life Insurance Coverage. During the Term, you shall be entitled to term life
insurance in the amount of $500,000.

     (c) Vacation. During the Term, you shall be entitled to take such vacation time as
specified from time to time by Company policy.

6. Other Perquisites. During the Term, the Company shall provide you with medical and
disability insurance in accordance with the Company’s then applicable Employee Handbook.

7. Termination of Employment. Termination of your employment may occur under any of the
following circumstances:

     (a) Company’s Termination of Employment. The Company has the right to terminate your
employment at any time, with or without Cause. For all purposes under this Agreement, (“Cause”)
shall mean:

(i) a willful failure by you to substantially perform your duties and
responsibilities in accordance with this Agreement, other than a failure resulting
from your complete or partial incapacity due to physical or mental illness or
impairment;

(ii) a willful act by you which constitutes personal dishonesty, incompetence, gross
misconduct or breach of fiduciary duty involving personal profit or fraud which in
each instance is materially injurious to the Company;

(iii) willful violation of any law, rule or regulation or any final cease-and-desist
order relating to the operation of the business of the Company;

(iv) conviction of, or a plea of “guilty” or “no contest” to, a felony or a crime
involving moral turpitude; or

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(v) breach by you of your representations and covenants set forth in this Agreement.

     No act, or failure to act, by you shall be considered “willful” unless committed without good
faith and without a reasonable belief that the act or omission was lawful and in the Company’s best
interest. If the Company terminates your employment for any reason other than for Cause, you shall
receive the severance payments (as defined hereunder) set forth in Section 8 below.

     (b) Your Termination of Employment. You have the right to terminate your employment
with the Company at any time. If you terminate your employment, you will not be entitled to any
Severance Payments (as defined hereunder) unless you terminated your employment for Good Reason (as
defined below). You agree to provide thirty (30) days’ prior written notice to the Company of
termination of your employment in accordance with Section 17(a) below; provided that the Company
may in its sole discretion select any date prior to the end of such thirty (30) day notice period
as the date your employment will terminate.

     (c) Termination for Death or Disability. Your employment shall be deemed to have been
terminated by you upon your death or at the end of any period during which your inability to
perform your duties and responsibilities in accordance with this Agreement exceeded more than
fifteen (15) weeks, whether or not consecutive, in any twelve (12) month period. Termination will
be effective upon the occurrence of such event.

     (d) Effect of Termination. Upon the effective date of termination of your employment
with the Company (the “Termination Date”), you will not be eligible for further compensation,
benefits or perquisites under Sections 3, 4, 5 or 6 of this Agreement, other than those that have
already accrued.

8. Termination for Good Reason. In accordance with this Section 8, you may voluntarily and
immediately terminate your employment for “Good Reason” if (i) you suffer a material reduction in
your authority or areas of responsibility, (ii) your Base Compensation is reduced by an amount
greater than five percent (5%) of your Base Compensation prior to such reduction or (iii) you cease
to be a member of the Board for any reason other than Cause.

9. Severance Payments.

     If you voluntarily resign your employment for Good Reason or if the Company terminates your
employment for any reason other than for Cause, then you shall be entitled to receive all of the
payments and benefit coverages described in this Section 9 (the “Severance Payments”). You shall
not be entitled to Severance Payments except as provided in this Section 9.

     (a) Cash Payment. On the Termination Date you shall receive a cash payment equal to
your then current Base Compensation, net of any deduction for taxes required by law.

     (b) Insurance Coverage. For the period from the Termination Date up to the one-year
anniversary of the Termination Date (the “Continuation Period”) if you elect pursuant to COBRA
(§4980B under the Internal Revenue Code (the “Code”)) to continue coverage under the

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Company’s health and/or dental plans, the Company shall pay the premiums for you (and, where
applicable, your dependents) for the Continuation Period, provided that you remain eligible under
COBRA to continue coverage under such plans.

     (c) No Mitigation. You shall not be required to mitigate the amount of any payment
contemplated by Section 9(a), nor shall any such payment be reduced by any earnings that you may
receive from any other source.

10. Limitation on Payments.

     (a) Basic Rule. Notwithstanding any contrary provision of this Agreement, the Company
shall not be required to make any payment or property transfer to, or for your benefit (under this
Agreement or otherwise) that would subject you to the excise tax described in Section 4999 of the
Code, if, after the application of this Section 10, the present value of your aggregate payments or
property transfers from the Company will be greater than’ the present value of your payments or
property transfers from the Company would have been if (i) this Section 10 did not apply and (ii)
such present value had been reduced by the amount of the excise tax described in Section 4999 of
the Code. In all other cases, this Section 8 shall not apply to you. All determinations under
this Subsection (a) shall be made by the independent auditors retained by the Company, most
recently prior to the Change in Control (the “Auditors”) based on information supplied by the
Company and you, and shall be binding on the Company and you. All fees and expenses of the
Auditors shall be paid by the Company.

     (b) Reductions. If the amount of the aggregate payments or property transfers to you
must be reduced under this Section 10, then you shall direct in which order the payments or
transfers are to be reduced, but no change in the timing of any payment or transfer shall be made
without the Company’s consent. As a result of uncertainty in the application of Section 4999 of
the Code at the time of an initial determination by the Auditors hereunder, it is possible that a
payment will have been made by the Company that should not have been made (an “Overpayment”) or
that an additional payment that will not have been made by the Company could have been made (an
“Underpayment”). In the event that the Auditors, based upon the assertion of a deficiency by the
Internal Revenue Service against the Company or you that the Auditors believe has a high
probability of success, determine that an Overpayment has been made, such Overpayment shall be
treated for all purposes as a loan to you that you shall repay to the Company, together with
interest at the applicable federal rate specified in Section 7872(f)(2) of the Code; provided,
however, that no amount shall be payable by you to the Company if and to the extent that such
payment would not reduce the amount that is subject to an excise tax under Section 4999 of the-
Code. In the event that the Auditors determine that an Underpayment has occurred, such
Underpayment shall promptly be paid or transferred by the Company to you, or for your benefit,
together with interest at the applicable federal rate specified in Section 7872(f)(2) of the Code.

11. Other Obligations.

     You represent and warrant that you are not subject to any other obligations that would
conflict with or inhibit your ability to perform your duties and responsibilities under this
Agreement. You further represent and warrant that you have not and will not bring to the

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Company or use in the performance of your duties and responsibilities any equipment, supplies,
facility or trade secret information, which are not generally available to the .public, of any
current or former employer or organization to which you provided services, unless you have obtained
written authorization for their possession and use.

12. Confidential Information.

     You shall not disclose or use at any time, either during the Term or after the Termination
Date, any Confidential Information (defined below) of the Company, whether patentable or not, which
you learn as a result of your employment with the Company, whether or not you developed such
information. “Confidential Information” shall include, without limitation: terms of contracts with
customers, including, contracts with suppliers, independent contractors or employees; business
plans and forecasts, non-public financial information and investor identities; personnel
information relating to the duties and responsibilities of, and compensation and benefits provided
to, any employee; names, home address and phone numbers of employees; sales and marketing
strategies, plans and programs; product development information; equipment manufacturing
specifications; inventions, discoveries, improvements, trade secrets, secret processes, technology,
know-how, models, drawings, works of authorship or other creative works, ideas, knowledge, data and
any other information which the Company regards as confidential. Confidential Information shall
remain at all times the property of the Company.

     You may use or disclose Confidential Information only:

     (a) as authorized and necessary in performing your duties and responsibilities in accordance
with this Agreement;

     (b) with the Company’s prior written consent;

     (c) in a legal proceeding between you and the Company to establish the rights of either party
under this Agreement, provided that you stipulate to a protective order to prevent any unnecessary
use or disclosure; or

     (d) subject to a compulsory legal process that requires disclosure of such information,
provided that you have complied with the following procedures to ensure that the Company has an
adequate opportunity to protect its legal interests in preventing disclosure:

Upon receipt of a subpoena that could possibly require disclosure of Confidential
Information, you provide a copy of the compulsory process and complete information
regarding the circumstances under which you received it to the Company by hand
delivery within 24 hours. You will not make any disclosure until the latest
possible date for making such disclosure in accordance with the compulsory process
(“Latest Possible Date”). If the Company seeks to prevent disclosure in accordance
with the applicable legal procedures, and provides you with notice before the Latest
Possible Date that it has initiated such procedures, you will not make disclosures
of any Confidential Information that is the subject of such procedures, until such
objections are withdrawn or ruled on.

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     You hereby acknowledge that any breach of this Section 12 would cause the Company irreparable
harm.

13. Development and Ownership of Inventions and Improvements; Copyrighted Works.

     (a) You shall keep the Company or its nominee informed of, and promptly disclose to the
Company, all inventions, discoveries, improvements, trade secrets, secret processes, technology,
know-how, works of authorship or other creative works, ideas, knowledge and data, whether
patentable or not, that you individually or jointly with others originated, developed, made,
conceived, acquired, first reduced to practice or suggested during the Term which are based in
whole or in part on the Company’s business or related to the Company’s business or activities.

     (b) Except for any inventions, discoveries, improvements, trade secrets, secret processes,
technology, know-how, works of authorship or other creative works, ideas, knowledge and data,
whether patentable or not, for which no equipment, supplies, facility or Confidential Information
of the Company was used and which were developed entirely on your own time and unrelated to your
work with the Company, you and your heirs, assigns and representatives shall assign, transfer and
set-over, and do hereby assign, transfer, and set-over, to the Company or its nominees and their
successors and assigns all of their right, title and interest in and to all inventions,
discoveries, improvements, trade secrets, secret processes, technology, know-how, works of
authorship or other creative works, ideas, knowledge and data, whether patentable or not, that you
individually or jointly with others originated, developed, made, conceived, acquired, first reduced
to practice or suggested during the Term which are based in whole or in part on the Company’s
business or related to the Company’s business or activities. You will, upon request by the
Company, immediately sign and deliver to the Company without further consideration any and all
documents necessary to perfect the assignments granted in this Subsection (b).

     (c) You hereby represent that prior to being employed by the Company, you did not originate,
develop, make, conceive, acquire, first reduce to practice or suggest any inventions, discoveries,
improvements, trade secrets, secret processes, technology, know-how, works of authorship or other
creative works, ideas, knowledge or data, whether patentable or not, in any field engaged in by the
Company or related to the Company’s business or activities.

     (d) Both while providing services under this Agreement and after Termination Date, you will,
upon request by the Company, immediately sign and deliver to the Company without further
consideration, all instruments in writing requiring your signature and deemed by the Company to be
necessary or advisable in, or in connection with, the filing or prosecuting of any application for
any patent covering improvements, inventions or any divisional, continuing, renewal or reissue
application or reexamination request based upon any application for patent. In the event that the
Company is unable for any reason whatsoever to secure your signature to any lawful and necessary
documents required to apply for or execute any patent application with respect to such idea,
process, development, design, system, program, discovery, invention, improvement or writing
(including renewals, extensions, continuations, divisions or continuations in part thereof), you
hereby irrevocably designate and appoint the Company and its officers and agents, as your agents
and attorneys-in-fact to act for and on your behalf and instead

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of you, to execute and file any such application and to do all other lawfully permitted acts
to further the prosecution and issuance of patents thereon with the same legal force and effect as
if executed by you.

     (e) You will aid the Company promptly on request, and without further consideration, in any
matter pertaining to any of copyrighted works, improvements, inventions, applications for patents
covering inventions or improvements; provided, however, that if such request is made by the Company
after the Termination Date, you shall be entitled to receive reimbursement of expenses incurred and
compensation for any services rendered in complying with such request at the rate of $1,000 per
half day or $2,000 per day.

14. Non-Solicitation/Non-Competition.

     (a) For two (2) years from the Termination Date, you will not, directly or indirectly,
individually or as part of or on behalf of any other person, employer or entity, attempt to solicit
for hire, any persons who are employed by the Company at the Termination Date until at least three
(3) months after the person’s employment with the Company ends.

     (b) For two (2) years from the Termination Date, except with the Board’s prior written
consent, you will not, directly or indirectly, on behalf of yourself or any other person, entity or
employer, sell or otherwise provide, or solicit for the purposes of selling or otherwise providing,
any technology, device or products that in each case is directly competitive, similar or related to
those licensed or sold by the Company (including any subsidiary) as of the Termination Date to any
person or entity that has within the twelve (12) months preceding the Termination Date purchased or
licensed such technology, device or product from the Company. This restriction shall not apply to
a product if at any point during such two (2) year period the Company stops selling or marketing
any product that is directly competitive, similar or related.

     (c) For two (2) years from the Termination Date, except with the Board’s prior written
consent, you will not directly or indirectly, own, manage, operate, control, be employed by,
participate in, advise, consult or contract with, or be connected in any manner with the ownership,
management, operation, or control of any business that develops, manufactures, distributes, sells,
licenses or markets therapeutic or prophylactic products delivered by transcutaneous, transdermal
or topical delivery systems.

15. Indemnification.

     During the Term and at all times thereafter, the Company shall indemnify you in accordance
with the Company’s by-laws from any claims or actions based upon any acts or omissions, or alleged
acts or omissions, by you which arise out of or are related to your employment with the Company.
You shall be a beneficiary of any directors’ and officers’ liability insurance policy maintained by
the Company as long as you remain an officer or director of the Company.

16. Return of Property.

     Upon termination of your employment with the Company for any reason, and not later than the
Termination Date you agree to immediately return to the Company all property

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belonging to the Company. This includes all documents and other information prepared by you
or on your behalf or provided to you in connection with your duties under this Agreement,
regardless of the form in which such document or information are maintained or stored, including
computer, typed, written, imaged, audio, video, micro-fiche, electronic or any other means of
recording or storing documents or other information. You hereby warrant that you will not retain
in any form any such document or other information or copies thereof. You may retain a copy of
this Agreement and information describing any rights you may have after the Termination Date under
any employee benefit plan.

17. Miscellaneous Provisions.

     (a) Notices. Unless otherwise provided herein, any notice or other information to be
provided to the Company will be sent by overnight delivery, with acknowledgement of receipt
requested, to:

Iomai Corporation

2421 Pennsylvania Avenue, N.W.

Washington, D.C. 20037-1723

Attention: Chairman of the Board

with a copy to:

Pillsbury Madison & Sutro LLP

8330 Boone Blvd.

Suite 400

Vienna, VA 22182

Attention: Jonathan M. Aberman, Esq.

     Any notice or other information to be provided to you will be sent by overnight delivery, with
acknowledgement of receipt requested, to:

Stanley Erck

954 Centre Street

Jamaica Plain, MA 02130

     (b) Waiver. No provision of this Agreement shall be modified, waived or discharged
unless the modification, waiver or discharge is agreed to in writing and signed by you and by an
authorized officer of the Company (other than you). No waiver by either party of any breach of, or
of compliance with, any condition or provision of this Agreement by the other party shall be
considered a waiver of any other condition or provision or of the same condition or provision at
another time.

     (c) Entire Agreement. This Agreement and the Exhibits hereto constitute the entire
agreement between you and the Company and supercedes all prior agreements and understandings
between you and the Company regarding your employment by the Company. In making this Agreement,
this parties warrant that they did not rely on any representations or statements other than those
contained in this Agreement. This Agreement may only be modified

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in writing and when signed by all parties to this Agreement. You further certify that you
fully understand the terms of this Agreement and have entered into it voluntarily.

     (d) Choice of Law. Regardless of the choice of law provisions of the State of
Delaware or any other jurisdiction, the parties agree that this Agreement shall be otherwise
interpreted, enforced and governed by federal law and the laws of the State of Delaware.

     (e) Severability. The invalidity or unenforceability of any provision or provisions
of this Agreement shall not affect the validity or enforceability of any other provision hereof,
which shall remain in full force and effect.

     (f) Dispute Resolution. You and the Company agree that any dispute or claim between
you and the Company, whether based on contract, tort or otherwise, relating to or arising out of
this Agreement, including the termination of your employment relationship with the Company, shall
be resolved under the following procedures.

(i) The party claiming to be aggrieved shall furnish to the other party a written
statement of the grievance identifying any witnesses or documents that support the
grievance and the relief requested or proposed.

(ii) If the other party does not agree to furnish the relief requested or proposed,
or otherwise does not satisfy the demand of the party claiming to be aggrieved, the
parties shall submit the dispute to non-binding mediation before a mediator to be
jointly selected by the parties. However, a dispute need not be submitted to
mediation if the matter in dispute is less than $10,000. The Company will pay the
cost of the mediation.

(iii) If the mediation does not produce a resolution of the dispute, the parties
agree that the dispute shall be resolved by final and binding arbitration. The
arbitrator shall be chosen by mutual agreement of the parties or, if no agreement
can be reached, by requesting a panel of seven arbitrators from the Federal
Mediation and Conciliation Service and alternately striking names from the list
until one name remains. The arbitrator shall have no authority to modify, change or
refuse to enforce the lawful terms of any final and binding arbitration agreement.

The arbitrator shall have the authority to grant any relief authorized by
law. The arbitrator shall not have the authority to modify, change or
refuse to enforce the terms of this Agreement. In addition, the arbitrator
shall not have the authority to require the Company to change any lawful
policy or benefit plan. The arbitrator shall not make any award that could
not be made by a court of law under the same circumstances.

The hearing shall be transcribed. The Company shall bear the costs of the
arbitration if the employee prevails. If the Company prevails, you will pay
the cost of the arbitration.

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(iv) Arbitration shall be the exclusive final remedy for any dispute between the
parties, provided that the arbitrator’s award must be based upon substantial
evidence and must follow the law. The parties agree that no dispute shall be
submitted to arbitration where the party claiming to be aggrieved has not complied
with the preliminary steps provided for in paragraphs (i) and (ii) above and
injunctive relief may be sought from any court of competent jurisdiction located in
the District of Columbia for any claims concerning an alleged breach of Sections 12,
13 or 14 of this Agreement or other misuse of trade secrets or other Confidential
Information, or where injunctive relief is necessary to preserve the status quo or
to prevent irreparable injury.

     (g) No Assignment. You may not assign this Agreement, either voluntarily or
involuntarily.

     (h) Counterparts. This Agreement may be executed in any number of counterparts each
of which shall be an original, but all of which together shall constitute one instrument.

     (i) Headings. The headings in this Agreement are for convenience only and shall not
effect the interpretation of this Agreement.

[The remainder of this page is intentionally blank.]

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     IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the
Company by its authorized officer, as of the day and year set forth under their signatures below.

	 	 	 
	STANLEY ERCK

	 	IOMAI CORPORATION
	 
	 	 
	     /s/ Stanley C. Erck                    

	 	By:      /s/ Phillip J. Sweatman                    

Name: Phillip J. Sweatman

Title: Chief Executive Officer

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AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT

     This Amendment No. 1 (this “Amendment”) to the Employment Agreement, dated as of May 18, 2000
(the “Employment Agreement”), by and between Stanley Erck, an individual resident of the
Commonwealth of Massachusetts (“you”) and Iomai Corporation, a Delaware corporation (the
“Company”), is made and entered into as of October 25, 2001 by and between you and the Company.
Capitalized terms used and not otherwise defined in this Amendment are used herein as defined in
the Employment Agreement.

WITNESSETH:

     WHEREAS, in accordance with Section 17(c) of the Employment Agreement, you and the Company
desire to amend certain provisions of the Employment Agreement, as set forth below.

     NOW, THEREFORE, in consideration of the foregoing and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows:

     1. Amendment to Section 3(b). Section 3(b) of the Employment Agreement is hereby
amended and restated in its entirety as follows:

“(b) Bonus Compensation. During the Term, you may be entitled to receive
additional cash bonus payments (less deductions required by law) (“Bonus
Compensation”). Bonus Compensation shall be determined by the Board, from time to
time in accordance with performance criteria adopted by the Board. You will be
eligible to receive a cash bonus of $50,000, which shall be payable in accordance
with written performance criteria to be agreed upon by you and the Board by not
later than July 1, 2000, and paid upon accomplishment of such criteria. In
addition, you shall be eligible to receive one-time Bonus Compensation of $50,000,
which shall be payable immediately within 120 days of the Company’s receipt of
advances in the aggregate principal amount of $5,000,000 from Elan Pharma
International Limited under the Convertible Promissory Note-C of Iomai Corporation
dated July 27, 2001 (the “Qualified Financing”).”

     2. Acknowledgement of Receipt of Bonus Compensation. You acknowledge that you
received in January 2001 a $50,000 payment of the Bonus Compensation under Section 3(b) of the
Employment Agreement, as amended hereby, for accomplishment during 2000 of performance criteria
agreed upon by you and the Board.

     3. Amendment to Section 3(c). Section 3(c) of the Employment Agreement is hereby
amended and restated in its entirety as follows:

“(c) Stock Compensation. In addition to the compensation set forth in
Sections 3 (a) and (b) above, as of the date of this Agreement, you shall receive an
initial grant of options to purchase common stock of the Company (“Common Stock”)

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in accordance with the Stock Option Agreement attached as Exhibit B hereto. On or
by October 25, 2001, the Company also agrees to provide you an additional grant of
options to purchase 505,182 shares of Common Stock at the then fair market value.
Your options shall be governed by the Company’s 1999 Stock Incentive Plan and the
applicable Stock Option Agreement and shall vest under the Company’s standard
vesting schedule, provided that the Company agrees that (i) in the event of a Change
of Control, (ii) if your employment with the Company is terminated by the Company
for other than Cause (as defined below) or (iii) if you terminate your employment
with the Company for Good Reason (as defined herein), all of your unvested options
shall immediately vest and become exercisable.”

     4. Amendment to Section 17. Section 17 of the Employment Agreement is hereby amended
by (i) deleting the words “Iomai Corporation, 2421 Pennsylvania Avenue, N.W., Washington, D.C.
20037-1723, Attention: Chairman of the Board” and substituting the words “Iomai Corporation, 20
Firstfield Road, Suite 250, Gaithersburg, Maryland 20878, Attention: Chairman of the Board” in
place thereof; and (ii) by deleting the words “Pillsbury Madison & Sutro LLP, 8330 Boone Blvd.,
Suite 400, Vienna, VA 22182, Attention: Jonathan M. Aberman, Esq.” and substituting the words
“Palmer & Dodge LLP, 111 Huntington Avenue at Prudential Center, Boston, MA 02199-7612, Attention:
Paul M. Kinsella, Esq.” in place thereof.

     5. Full Force and Effect. Except as modified, amended and supplemented above, all
rights, terms and conditions of the Employment Agreement shall remain in full force and effect.

     6. Effect of Amendment. This Amendment is an amendment to the Employment Agreement.
Unless the context of this Amendment otherwise requires, the Employment Agreement and this
Amendment shall be read together and shall have the effect as if the provisions of the Employment
Agreement and this Amendment were contained in one agreement. After the effective date of this
Amendment, all references in the Employment Agreement to the “Employment Agreement, “ “this
Agreement,” “hereto,” “hereof,” “hereunder” or words of like import referring to the Employment
Agreement shall mean the Employment Agreement as amended by this Amendment.

     7. Governing, Law. Regardless of the choice of law provisions of the State of
Delaware or any other jurisdiction, the parties agree that this Amendment shall be otherwise
interpreted, enforced and governed by federal laws and the laws of the State of Delaware.

     8. Counterparts. This Amendment may be executed in counterparts, and when so
executed, each counterpart shall be deemed an original, and said counterparts together shall
constitute one and the same instrument.

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     IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first above
written.

	 	 	 
	 

	 	IOMAI CORPORATION
	 

	 	 
	     /s/ Stanley C. Erck                    

Stanley Erck

	 	By:      /s/ Russell P. Wilson                    

      Russell P. Wilson

      Vice President — Business Development

      & General Counsel

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