Document:

EX-10.13

 Exhibit 10.13 

FORM OF WAIVER AGREEMENT 

THIS WAIVER AGREEMENT (this “Agreement”) is made and entered into as of [__], 2018 by and among Mr. Alexander Otto (the
“Distributee”) and Retail Value Inc., (the “Company”). 
 RECITALS 

A. WHEREAS, on December 14, 2017, DDR Corp. (“DDR”) announced that its board of directors (the “DDR
Board”) unanimously approved a plan to spin off (the “Spin-off”) a portfolio of 50 assets into a separate publicly traded REIT (the
“Spin-off Assets”); 
 B. WHEREAS, in furtherance of the Spin-off, DDR or other DDR subsidiaries (other than the Company and its subsidiaries) have contributed or will contribute its interests in the Spin-off Assets to the Company
or a subsidiary of the Company; 
 C. WHEREAS, to effect the Spin-off, DDR will distribute
all of the outstanding shares of Common Shares (as defined below) owned by DDR to holders of record of the outstanding shares of DDR common stock, par value $0.10, as of the record date (as such date is determined by the DDR Board) for such
distribution (the “Distribution”); 
 D. WHEREAS, on May 11, 2009, the DDR Board waived the application of the
“related party limit” contained in DDR’s Second Amended and Restated Articles of Incorporation with respect to the Distributee, and pursuant to such waiver, the Distributee identified only Crate & Barrel as an “owned
tenant” as such term is defined in the waiver agreement entered into between the Distributee and DDR; 
 E. WHEREAS, the number
of Common Shares to be distributed to Distributee pursuant to the Distribution and owned by the Distributee as of the date hereof would exceed the Related Party Limit (as defined below); 

F. WHEREAS, the Board of Directors of the Company (the “Board”) has agreed to waive application of the Related Party
Limit on the terms and conditions set forth below; and 
 G. WHEREAS, the purpose of this Agreement is to set forth the parties’
agreements and respective obligations regarding the waiver of the Related Party Limit. 
 Unless otherwise provided, all capitalized terms
shall have the meaning ascribed to them in Section l. 
 NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties agree as follows: 
 1. Definitions. For purposes of this Agreement: 

(a) “Articles” means the Amended and Restated Articles of Incorporation of the Company, as amended, attached hereto as
Exhibit A. 

 (b) “Business Days” means any day on which national banks are open for business
in the City of New York. 
 (c) “Code” means the United States Internal Revenue Code of 1986, as amended. 

(d) “Common Shares” has the meaning set forth in the Articles. 

(e) “Constructive Ownership” has the meaning set forth in Section 4(a) of Division B of the Articles. 

(f) “Exempt Holder” has the meaning set forth in Section 4(a) of Division B of the Articles. 

(g) “Person” has the meaning set forth in Section 4(a) of Division B of the Articles. 

(h) “Owned Tenant” means a tenant that is an “Owned Tenant” pursuant to Sections 2(b), 2(c), or 2(d) of this
Agreement. 
 (i) “Related Party Limit” has the meaning set forth in Section 4(a) of Division B of the Articles. 

2. Distributee Representations and Agreements. 

(a) As of the date hereof, the Distributee represents that none of (i) the Distributee, (ii) any Person who is listed in the
definition of Exempt Holder in the Articles (each a “Member”), or (iii) any Person who Constructively Owns Common Shares in excess of the Related Party Limit as a result of Constructively Owning Common Shares Constructively
Owned by the Distributee or a Member (Persons described in clauses (i), (ii), and (iii) being collectively referred to herein as the “Owners”), Constructively Owns 10% or more of any interest described in
Section 856(d)(2)(B) of the Code (any such interest described in Section 856(d)(2)(B) being referred to herein as a “Relevant Equity Interest”) of any Person that is (A) a tenant of the Company, a tenant of any entity
the income of which is included in the determination of the Company’s REIT taxable income, or a tenant of any real estate investment trust in which the Company owns a Relevant Equity Interest of at least 10% and (B) listed on Schedule
1 hereto (the “Original Tenant Schedule”). Each tenant listed in the Original Tenant Schedule or any updates of the Original Tenant Schedule (collectively and individually, such updated schedules and the Original Tenant
Schedules are referred to herein as a “Tenant Schedule”) shall be referred to herein as a (“Disclosed Tenant”). 

(b) At the end of each calendar quarter of the Company, the Company shall provide the Distributee an updated Tenant Schedule. The Distributee,
within twenty Business Days of receipt of an updated Tenant Schedule, shall inform the Company of any tenant on such updated Tenant Schedule in which any Owner Constructively Owns a Relevant Equity Interest of at least 10%. If the Distributee
informs the Company of any such tenant, such tenant shall be considered an Owned Tenant (i) if such tenant appeared on such updated Tenant Schedule for the first time (i.e., the tenant was not listed on the Original Tenant Schedule, a
previous updated Tenant Schedule or on a notice of new tenants under the procedure set forth in Section 2(c)) or (ii) with respect to leases entered into with such tenant after such tenant has been identified by the Distributee. 

  
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 (c) The Company will notify the Distributee from time to time of material (individually or in the
aggregate) prospective leases with tenants not previously identified as Disclosed Tenants (including tenants of properties the Company is considering acquiring, directly or indirectly). The Distributee, within five Business Days of receipt of such
notice, shall inform the Company of any such tenant in which any Owner Constructively Owns a Relevant Equity Interest of at least 10% (an “Identified Tenant”). If the Company executes a lease with such Identified Tenant, such tenant
shall be considered an Owned Tenant. If the Distributee does not inform the Company that such tenant is an Identified Tenant within five Business Days of receiving notice and if the Company executes a lease with such tenant, the Company shall notify
the Distributee of such lease and such tenant will thereafter be considered a Disclosed Tenant. If the Company enters into a lease with a tenant not previously identified as a Disclosed Tenant without notifying Distributee in accordance with this
Section 2(c) and if any Owner Constructively Owns a Relevant Equity Interest of at least 10% in such tenant, such tenant shall be considered an Owned Tenant. 

(d) The Distributee agrees not to take any action to acquire, and to cause Owners under his control not to take any action to acquire,
Constructive Ownership of 10% or more of the Relevant Equity Interest of Disclosed Tenants. The Distributee will make reasonable efforts to share the Tenant Schedules with Owners not under his control and to advise them not to acquire Constructive
Ownership of Relevant Equity Interests in Disclosed Tenants and to advise the Distributee of any such acquisitions. If the Distributee determines that any Owner has acquired Constructive Ownership of 10% or more of the Relevant Equity Interests of a
Disclosed Tenant, the Distributee shall inform the Company as soon as reasonably possible, but in no event more than five Business Days after such discovery. Such a tenant shall be treated as an Owned Tenant only with respect to leases entered into
after the Distributee informs the Company of such ownership. 
 (e) By the 15th day of
each of January, April, July, and October, the Company shall provide the Distributee a projection of gross income of the Company (as determined for purposes of Sections 856(c)(2) and 856(c)(3) of the Code) for that calendar year (“Projected
Gross Income”). The Distributee agrees that if (i) an Owner is a Constructive Owner of 10% or more of the Relevant Equity Interests of a Disclosed Tenant that is not an Owned Tenant and (ii) at such time projected rents (as
determined for purposes of Section 856(c)(2) of the Code) for the calendar year from Disclosed Tenants in which any Owner Constructively Owns a Relevant Equity Interest of at least 10% (“Related Tenant Rents”) (the date on
which both conditions (i) and (ii) are satisfied shall constitute the “Default Event”) would exceed 1.0% of Projected Gross Income as set forth on the most recent projections existing on the Relevant Date, (as hereinafter
defined), the waivers granted pursuant to Section 3 shall be terminated as of the date immediately prior to the date of the Default Event (the “Relevant Date”) with all resulting consequences under the Articles; provided,
however, that Related Tenant Rents do not include rents from Owned Tenants. 

  
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 (f) The Distributee and the Company hereby agree to use their best efforts to mutually implement
updated procedures mutually agreed upon to make the procedures for ensuring satisfaction, by the Company and any real estate investment trust described in Section 2(a)(A), of Sections 856(c)(2) and 856(c)(3) of the Code more effective. 

3. Company Agreements. 

The Board has granted waivers from the Related Party Limit to the Owners in excess of the Related Party Limit pursuant to its authority
provided in Section 4(l)(iii) of Division B of the Articles. A copy of the Board resolution granting such waiver is attached as Exhibit B hereto. 

4. Miscellaneous. 
 (a)
Survival. The representations, warranties, and agreements of the Company and the Distributee contained in this Agreement shall survive delivery of this Agreement and shall remain in full force and effect, regardless of any investigation made
by or on behalf of them or any person controlling them. 
 (b) Entire Agreement. This Agreement constitutes the entire agreement
among the parties to this Agreement and supersedes all other prior agreements and understandings, both written and oral, between the parties with respect to the subject matter hereof. 

(c) Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York, regardless
of the laws that might otherwise govern under applicable principles of conflicts of law thereof. 
 (d) Assignment and Successors.
This Agreement and all of the provisions hereof shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns, provided that except as otherwise specifically provided herein, neither this
Agreement nor any of the rights, interests or obligations of the parties hereto may be assigned by any party hereto without prior written consent of the other party hereto. The Distributee may assign his rights and obligations under this Agreement
to any Exempt Holder to whom he has transferred actual ownership of his Common Shares; provided, however that Distributee shall not be relieved of his obligations under the first two sentences of Section 2(d) under this Agreement by any such
assignment. 
 (e) Termination. This Agreement shall terminate on the date upon which the waiver granted pursuant to Section 3
terminates pursuant to Section 2. 
 (f) No Third Party Rights. Nothing in this Agreement, express or implied, is intended to or
shall confer upon any Person (other than the parties hereto) any right, benefit or remedy of any nature whatsoever under or by reason of this Agreement. 

(g) Cooperation. The Company agrees to cooperate fully with the Distributee and to execute and deliver such further documents,
certificates, agreements and instruments and to take such other actions as may be reasonably requested by the Distributee to carry out the intent and purpose of this Agreement. 

  
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 (h) Severability. If any provision of this Agreement is held invalid or unenforceable by
any court of competent jurisdiction, the other provisions of this Agreement will remain in full force and effect. Any provision of this Agreement held invalid or unenforceable only in part or degree will remain in full force and effect to the extent
not held invalid or unenforceable. 
 (i) Notices. All notices, requests, demands, and other communications hereunder shall be in
writing (which shall include communications by facsimile) and shall be delivered (a) in person or by courier or overnight service, or (b) by facsimile transmission, as follows: 

If to the Company: 
 Retail Value
Inc. 
 3300 Enterprise Parkway 

Beachwood, Ohio 44112-1190 

Attention: Chairman of the Board of Directors 

with a copies (which shall not constitute notice) to: 

DDR Corp. 
 3300 Enterprise
Parkway 
 Beachwood, Ohio 44122-1190 

Attention: General Counsel 

Telephone: (216) 755-5500 

E-mail: akitlowski@ddr.com 

and 
 Jones Day 

North Point 
 901 Lakeside Avenue

 Cleveland, Ohio 44114-1190 

Attention: Michael J. Solecki 

Telephone: (216) 586-7103 

E-mail: mjsolecki@jonesday.com 

If to the Distributee: 
 KG CURA
Vermögensverwaltung G.m.b.H. & Co. 
 Saseler Damm 39 a 

D-22179 Hamburg 

Germany 
 Attention:
Dr. Thomas Finne 
 Telephone: 0049 (0) 40 2848 406 62 

E-mail: finne@kgcura.de 

  
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 with a copy (which shall not constitute notice) to: 

Alston & Bird LLP 
 90
Park Avenue 
 New York, NY 10016 

Attention: Mark F. McElreath 

Telephone: (212) 210-9595 

E-mail: mark.mcelreath@alston.com 

or to such other address as the parties hereto may designate in writing to the other in accordance with this Section 4(i). Any Party may
change the address to which notices are to be sent by giving written notice of such change of address to the other parties in the manner above provided for giving notice. If delivered personally or by courier, the date on which the notice, request,
instruction or document is delivered shall be the date on which such delivery is made and if delivered by facsimile transmission or mail as aforesaid, the date on which such notice, request, instruction or document is received shall be the date of
delivery. 
 (j) Counterparts. This Agreement may be executed in several counterparts, each of which shall be deemed an original and
all of which shall constitute one and the same instrument, and shall become effective when counterparts have been signed by each of the parties and delivered to the other parties; it being understood that all parties need not sign the same
counterpart. 
 (k) Headings. The headings contained in this Agreement are for the convenience of reference only, shall not be deemed
to be a part of this Agreement and shall not be referred to in connection with the construction or interpretation of this Agreement. 

[Signatures on following page] 

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

  

			
	 RETAIL VALUE
INC.

 
			
		
	 By:
	 	 

 
			
	 Name:
	 	
	 Title:
	 	
	
	 MR. ALEXANDER OTTOEX-10.1

 Exhibit 10.1 

June 3, 2018 
 William Lis 

Portola Pharmaceuticals, Inc. 
 270 East Grand Avenue 

South San Francisco, CA 94080 
 Dear Bill: 

This letter sets forth the substance of the transition, separation and consulting agreement (the “Agreement”) between you and Portola
Pharmaceuticals, Inc. (the “Company”). 
 1. Separation/Final Pay. Your last day of employment will be
August 1, 2018 (the “Separation Date”). You also agree to resign from the Company’s Board of Directors (the “Board”), effective the Separation Date. You agree to provide the Company with a resignation letter on the
Separation Date, resigning from all positions you hold with the Company. On the Separation Date, the Company will pay you all accrued salary, and all accrued and unused vacation earned through the Separation Date, subject to standard payroll
deductions and withholdings. 
 2. Transition Period. From the date of this letter through the Separation Date (the
“Transition Period”), you will remain Chief Executive Officer, performing such duties as requested by the Board. Your pay and benefits will continue on the same terms now in effect during the Transition Period. You agree to perform your
Transition Period in good faith. 
 3. Severance Benefits. If: (i) you timely enter into this Agreement and remain in
compliance with its terms (including performing your Transition Period services until the Separation Date); and (ii) on the Separation Date, you provide the Company with a fully-executed Separation Date Release attached hereto as Exhibit
A (the “Release”) and you allow the releases contained therein to become effective, then pursuant to your Executive Severance Benefits Agreement (the “Severance Agreement”), or the Company terminates your
employment prior to the end of the contemplated Transition Period without “Cause,” as defined in the Severance Agreement (and you timely provide the requisite Release per the Severance Agreement), you will receive the following severance
benefits associated with termination of your employment: 
 a. You will receive an amount equal to fifteen (15) months of your
base salary, paid over the fifteen-month period immediately following the Separation Date; provided, however, that no amount shall be paid prior to the 60th day following the Separation Date (provided that the Release is effective by that
date). On the 60th day following the Separation Date, the Company will pay you the severance amount that you would otherwise have received on or prior to such date but for the delay in payment related to the effectiveness of the Release, with the
balance of the severance amount being paid as originally scheduled. 

 b. Provided that you timely elect continuation of coverage pursuant to COBRA, the Company
shall pay the applicable premiums (inclusive of premiums for your dependents) for such continued health, dental, or vision plan coverage for you and your eligible dependents following the Separation Date for up to fifteen (15) months (but in no
event after such time as you are eligible for coverage under the plans of a subsequent employer or you are no longer eligible for COBRA coverage). You are required to notify the Company immediately if you become eligible under a health, dental, or
vision insurance plan of a subsequent employer. 
 You acknowledge and agree that upon receipt of the benefits set forth in Section 3, you will have
received all severance benefits to which you are entitled, whether under the Severance Agreement or otherwise, and will not be eligible for, and will not receive, any further severance benefits from the Company. 

4. Consulting. If: (i) you timely enter into this Agreement and remain in compliance with its terms (including performing
your Transition Period services until the earlier of a Covered Termination prior to the Separation Date, as defined in the Severance Agreement, or the Separation Date); and (ii) on your last day of employment you provide the Company with the
fully-executed Release and allow the releases contained therein to become effective, then the Company will engage you as a consultant under the terms set forth below. 

a. Consulting Period. You will serve as a consultant to the Company beginning on the last day of employment and ending on
June 30, 2020 (the “Consulting Period”), unless terminated earlier pursuant to Section 4(h). 
 b. Consulting
Services. As a consultant, you will be responsible for assisting the Company in any area of your expertise, as reasonably requested by the Company (the “Consulting Services”), not to exceed sixteen (16) work hours per month
without your consent. You will conduct the Consulting Services at a location and during times to be mutually agreed upon, and will exercise the highest degree of professionalism in performing the Consulting Services. You will be directed in all of
your Consulting services by the Chief Executive Officer of the Company or his or her designee. 
 c. Compensation. 

i. Cash Compensation. During the Consulting Period, the Company will pay you $8,227.08 per month in consulting fees (the
“Consulting Fees”). No part of the Consulting Fees will be subject to withholding for the payment of any social security, federal, state or any other employee payroll taxes. The Company will report the Consulting Fees by filing
Form 1099-MISC with the Internal Revenue Service to the extent required by law. 
 ii. Equity. During your employment
with the Company, you were granted certain equity interests in the Company. During the Consulting Period, these interests will continue to vest under the existing terms as set forth in the governing equity agreements, with time vesting and
performance-based vesting (as to the applicable milestones, if met) to continue during the Consulting Period. Except as provided in this Agreement, all rights and obligations with respect to your equity interests will be as set forth in the
applicable agreements, grant notices and plan documents. You are encouraged to obtain independent tax advice concerning your options and how the terms of this Agreement may affect the tax treatment of your interest. 

 d. Independent Contractor Status. You agree that during the Consulting Period,
(i) you will be an independent contractor to the Company and not an employee of the Company, and (ii) the Company will not make payments for state or federal income tax, FICA (social security and Medicare), make unemployment insurance or
disability insurance contributions, or obtain workers’ compensation insurance on your behalf. 
 e. Protection of
Information. You agree that during the Consulting Period and thereafter, you will not use or disclose any confidential or proprietary information or materials of the Company that you obtain or develop in the course of performing consulting
services for the Company. Any and all work product you create in the course of performing consulting services for the Company will be the sole and exclusive property of the Company. You hereby assign to the Company all right, title, and interest in
all inventions, techniques, processes, materials, and other intellectual property developed in the course of performing consulting services for the Company. 

f. Limitations on Authority. You will have no responsibilities or authority as a consultant to the Company other than as
provided above. You agree not to represent or purport to represent the Company in any manner whatsoever to any third party except with the prior written consent of the Chief Executive Officer of the Company. 

g. Standards of Conduct; Noncompetition. You agree not to engage in any conduct during the Consulting Period that is detrimental
to the interests of the Company. You further agree during the Consulting Period that you will not, directly or indirectly, as an officer, director, employee, consultant, owner, manager, member, partner, or in any other capacity solicit, perform, or
provide, or attempt to perform or provide Conflicting Services in the United States, nor will you assist another person to solicit, perform or provide or attempt to perform or provide Conflicting Services in the United States. You and the Company
agree that for purposes of this Agreement, “Conflicting Services” means any product, service, or process or the research and development thereof, of any person or organization other than the Company that is substantially similar to or
competitive with a product, service, or process, including the research and development thereof, of the Company. Notwithstanding the above, you will not be deemed to be engaged directly or indirectly in any Conflicting Services if you participate in
any such business solely as a passive investor in up to one percent (1%) of the equity securities of a company or partnership, the securities of which are publicly traded. 

h. Termination of Consulting Period. Either you or the Company may terminate the Consulting Period, at any time and for any
reason, upon thirty (30) days written notice to the other party. If the Company terminates the Consulting Period without Cause, then the Company will accelerate the vesting on your Company equity interests such that you will be deemed vested in
all of the shares that would have vested had you remained a consultant through June 30, 2020. For purposes of this Agreement, Cause shall mean any of the following (as determined reasonably and in good faith by the Board): (i) commission
of any felony or other crime involving fraud, dishonesty or moral turpitude; (ii) attempted commission of, or participation in, a fraud or act of dishonesty against the Company; (iii) material violation of any

 
contract or agreement with the Company that causes material harm to the Company; or (iv) discovery of conduct during the term of your employment that would have constituted Cause for
termination under the Severance Agreement. You agree that in the event the Company terminates the Consulting Agreement for Cause under the provision of this paragraph 4(h), then you will be required to disgorge all benefits provided to you under the
Consulting Agreement, including the benefit of any additional stock rights that vested after the Separation Date. 
 5. Expense
Reimbursements. You agree that, within ten (10) days after the Separation Date, you will submit your final documented expense reimbursement statement reflecting all business expenses you incurred through the Separation Date, if any, for
which you seek reimbursement. The Company will reimburse you for these expenses pursuant to its regular business practice. 
 6.
Return of Company Property. By the close of business on the Separation Date, you agree to return to the Company all Company documents (and all copies thereof) and other Company property which you have in your possession or control, including,
but not limited to, Company files, notes, drawings, records, plans, forecasts, reports, studies, analyses, proposals, agreements, financial information, research and development information, sales and marketing information, customer lists, prospect
information, pipeline reports, sales reports, operational and personnel information, specifications, code, software, databases, computer-recorded information, tangible property and equipment (including, but not limited to, computers, facsimile
machines, mobile telephones, servers), credit cards, entry cards, identification badges and keys; and any materials of any kind which contain or embody any proprietary or confidential information of the Company (and all reproductions thereof in
whole or in part); provided, however, that you may retain such Company property that is necessary for your performance of the Consulting Services, subject to your prompt return of such information at the conclusion of the Consulting Period.

 7. Proprietary Information Obligations. You acknowledge and reaffirm your continuing obligations under your Proprietary
Information and Inventions Agreement. The Company will make reasonable best efforts to limit your access to material nonpublic information after December 31, 2018, however at all times, you shall remain subject to applicable securities laws.

 8. Nondisparagement. You agree not to disparage the Company, its officers, directors, employees, shareholders, and agents,
in any manner likely to be harmful to its or their business, business reputation, or personal reputation, and the Company’s officers and members of the Board of Directors agree not to disparage you in any manner likely to be harmful to your
personal, business or professional reputations; provided that both you and the Company will respond accurately and fully to any request for information if required by legal process or in connection with a government investigation. In addition,
nothing in this provision or this Agreement is intended to prohibit or restrain you in any manner from making disclosures that are protected under the whistleblower provisions of federal or state law or regulation. The Company and you have agreed
upon a press release that accurately describes the reasons for your transition from the Company. 

 9. No Voluntary Adverse Action; Cooperation. You agree that you will not
voluntarily assist any person in bringing or pursuing any claim or action of any kind against the Company or its parents, subsidiaries, affiliates, officers, directors, employees or agents, unless pursuant to subpoena or other compulsion of law. In
addition, you agree to cooperate fully with the Company in connection with its actual or contemplated defense, prosecution, or investigation of any claims or demands by or against third parties, or other matters arising from events, acts, or
failures to act that occurred during the period of your employment by the Company. Such cooperation includes, without limitation, making yourself available to the Company upon reasonable notice, without subpoena, to provide accurate and complete
information in witness interviews and deposition and trial testimony. The Company will reimburse you for reasonable out-of-pocket expenses you incur in connection with
any such cooperation (excluding forgone wages, salary, or other compensation) and will make reasonable efforts to accommodate your scheduling needs. 

10. No Admissions. You understand and agree that the promises and payments in consideration of this Agreement shall not be
construed to be an admission of any liability or obligation by the Company to you or to any other person, and that the Company makes no such admission. 

11. Representations. You hereby represent that you have been paid all compensation owed and for all hours worked, have received
all the leave and leave benefits and protections for which you are eligible pursuant to the Family and Medical Leave Act, the California Family Rights Act, or otherwise, and have not suffered any on-the-job injury for which you have not already filed a workers’ compensation claim. 

12. Section 409A. The payments and benefits under this Agreement are intended to qualify for exemptions from
the application of Section 409A of the Internal Revenue Code (“Section 409A”), and this Agreement will be construed to the greatest extent possible as consistent with those provisions, and to the extent not so exempt, this
Agreement (and any definitions hereunder) will be construed in a manner that complies with Section 409A to the extent necessary to avoid adverse taxation under Section 409A. Notwithstanding anything to the contrary herein, to the extent
required to comply with Section 409A, a termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the payment of amounts or benefits upon or following a termination of
employment unless such termination is also a “separation from service” within the meaning of Section 409A. Your right to receive any installment payments will be treated as a right to receive a series of separate payments and,
accordingly, each installment payment shall at all times be considered a separate and distinct payment. 
 13. Miscellaneous.
This Agreement, including Exhibit A, constitutes the complete, final and exclusive embodiment of the entire agreement between you and the Company with regard to its subject matter. It is entered into without reliance on any promise or
representation, written or oral, other than those expressly contained herein, and it supersedes any other such promises, warranties or representations. This Agreement may not be modified or amended except in a writing signed by both you and a duly
authorized officer of the Company. This Agreement will bind the heirs, personal representatives, successors and assigns of both you and the Company, and inure to the benefit of both you and the Company, their heirs, successors and assigns. If any
provision of this Agreement is determined to be invalid or unenforceable, in whole or in part, this determination will not affect any other provision of this Agreement and the 

 
provision in question will be modified so as to be rendered enforceable. This Agreement will be deemed to have been entered into and will be construed and enforced in accordance with the laws of
the State of California without regard to conflict of laws principles. Any ambiguity in this Agreement shall not be construed against either party as the drafter. Any waiver of a breach of this Agreement shall be in writing and shall not be deemed
to be a waiver of any successive breach. This Agreement may be executed in counterparts and facsimile signatures will suffice as original signatures. 
 If
this Agreement is acceptable to you, please sign below and return the original to me within ten (10) days. The Company’s offer contained herein will automatically expire if you do not sign and return it within this timeframe. You should
not sign the Separation Date Release before the Separation Date. 

			
	We wish you the best in your future endeavors.
	
	Sincerely,
		
	By:	 	/s/ Hollings Renton
		 	Hollings Renton
		 	on behalf of the Board of Directors

 EXHIBIT A – SEPARATION DATE RELEASE 

I HAVE READ, UNDERSTAND AND AGREE FULLY TO
THE FOREGOING AGREEMENT: 
  

	
	/s/ William Lis
	William Lis
	
	June 3, 2018
	Date

 EXHIBIT A 

SEPARATION DATE RELEASE 

(TO BE SIGNED ON THE SEPARATION DATE) 
 In
exchange for the benefits to be provided to me by Portola Pharmaceuticals, Inc. (the “Company”) pursuant to the transition, separation and consulting agreement between the Company and me (the “Separation Agreement”), I hereby
provide the following Separation Date Release (the “Release”). 
 In exchange for the consideration to which I would not otherwise be entitled, I
hereby generally and completely release the Company and its predecessors, successors, parent or subsidiary entities, insurers, affiliates and assigns, and each of their respective directors, officers, employees, shareholders, partners, agents and
attorneys, from any and all claims, liabilities and obligations, both known and unknown, that arise out of or are in any way related to events, acts, conduct, or omissions prior to or on the date I sign this Separation Date Release. The general
release includes, but are not limited to: (i) all claims arising out of or in any way related to my employment with the Company, or the termination of that employment; (ii) all claims related to my compensation or benefits from the
Company, including salary, bonuses, commissions, vacation, expense reimbursements, severance pay, fringe benefits, stock, stock options, or any other ownership, equity, or profits interests in the Company; (iii) all claims for breach of
contract, wrongful termination, and breach of the implied covenant of good faith and fair dealing; (iv) all tort claims, including claims for fraud, defamation, emotional distress, and discharge in violation of public policy; and (v) all
federal, state, and local statutory claims, including claims for discrimination, harassment, retaliation, attorneys’ fees, or other claims arising under the federal Civil Rights Act of 1964 (as amended), the federal Americans with Disabilities
Act of 1990, the federal Age Discrimination in Employment Act of 1967 (as amended) (the “ADEA”), the California Labor Code (as amended), and the California Fair Employment and Housing Act (as amended). 

I acknowledge that I am knowingly and voluntarily waiving and releasing any rights I have under the ADEA, and that the consideration given for the waiver and
releases I have given in this Release is in addition to anything of value to which I was already entitled. I further acknowledge that I have been advised, as required by the ADEA, that: (i) my waiver and release does not apply to any rights or
claims that arise after the date I sign this Release; (ii) I should consult with an attorney prior to signing this Release (although I may choose voluntarily not to do so); (iii) I have twenty-one
(21) days to consider this Release (although I may choose voluntarily to sign it sooner); (iv) I have seven (7) days following my signing of this Release to revoke the Release by providing written notice of my revocation; and (v) this
Release will not be effective until the date upon which the revocation period has expired unexercised, which will be the eighth day after I sign this Release provided that I do not revoke it (the “Release Effective Date”). 

Furthermore, in giving the releases set forth in this Release, which include claims which may be unknown to me at present, I acknowledge that I have read and
understand Section 1542 of the California Civil Code which reads as follows: “A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of 

 
executing the release, which if known by him or her must have materially affected his or her settlement with the debtor.” I hereby expressly waive and relinquish all rights and
benefits under that section and any law or legal principle of similar effect in any jurisdiction with respect to my release of claims herein, including but not limited to the release of unknown and unsuspected claims. 

Notwithstanding the foregoing, the following are not included in the Release (the “Excluded Claims”): (i) any rights or claims for
indemnification I may have pursuant to any written indemnification agreement with the Company to which I am a party or the Company’s bylaws or under applicable law; (ii) any rights which cannot be waived as a matter of law; (iii) any
rights I have to file or pursue a claim for workers’ compensation or unemployment insurance; and (iv) any claims for breach of this Release. I understand that nothing in this Release limits my ability to file a charge or complaint with the
Equal Employment Opportunity Commission, the Department of Labor, the National Labor Relations Board, the Occupational Safety and Health Administration, or any other federal, state or local governmental agency or commission (“Government
Agencies”). I further understand that this Release does not limit my ability to communicate with any Government Agencies or otherwise participate in any investigation or proceeding that may be conducted by any Government Agency, including
providing documents or other information, without notice to the Company. I understand that while this Release does not limit my right to receive an award for information provided to the Securities and Exchange Commission, I understand and agree
that, to maximum extent permitted by law, I am otherwise waiving any and all rights I may have to individual relief based on any claims that I have released and any rights I have waived by signing this Release. 

I hereby represent that I have been paid all compensation owed and for all hours worked, have received all the leave and leave benefits and protections for
which I am eligible, pursuant to the Family and Medical Leave Act or otherwise, and have not suffered any on-the-job injury for which I have not already filed a claim.

  

			
	By:	 	 

 
			
		 	William Lis
		
	Date:

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