Document:

Amended Registration Rights Agreement

 Exhibit 10.49 
 EXECUTION COPY 
  
  
  
 AMENDED AND RESTATED 
 REGISTRATION RIGHTS AGREEMENT 
 between 
 DYNAVAX TECHNOLOGIES CORPORATION 
 and 
 SYMPHONY DYNAMO HOLDINGS LLC 
  
  
 Dated as of
November 9, 2009 
  
  
  
  
  

 Table of Contents 
  

					
	 Section
	  	 	  	Page
	 Section 1.
	  	Definitions	  	2
			
	 Section 2.
	  	Registration	  	3
			
	 Section 3.
	  	Related Obligations	  	4
			
	 Section 4.
	  	Obligations of the Investor(s)	  	6
			
	 Section 5.
	  	Expenses of Registration	  	7
			
	 Section 6.
	  	Indemnification	  	7
			
	 Section 7.
	  	Contribution	  	10
			
	 Section 8.
	  	Reports Under The Exchange Act	  	10
			
	 Section 9.
	  	Assignment of Registration Rights	  	10
			
	 Section 10.
	  	Amendment of Registration Rights	  	10
			
	 Section 11.
	  	Miscellaneous	  	11
			
	 Section 12.
	  	Original Agreement	  	13

  

			
	i	 	Amended and Restated Registration Rights Agreement

 AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT 
 AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT (this “Agreement”), dated as of November 9, 2009, by
and between DYNAVAX TECHNOLOGIES CORPORATION, a Delaware corporation (“Dynavax”), and SYMPHONY DYNAMO HOLDINGS LLC, a Delaware limited liability company (together with its permitted successors, assigns and transferees,
“Holdings”). 
 RECITALS: 
 WHEREAS, in connection with the exercise by Dynavax of the Purchase Option under the Amended and Restated Purchase Option Agreement,
by and among Dynavax, Holdings and Symphony Dynamo, Inc., a Delaware corporation (“Symphony Dynamo”), of even date herewith (the “Purchase Option Agreement”), Dynavax will issue (a) shares of
Dynavax’s common stock, par value $0.001 per share (“Dynavax Common Stock”) (all such shares of Dynavax Common Stock, when and if issued, the “Purchase Option Shares”) or (b) the Alternate
Closing Securities (as defined in the Purchase Option Agreement) (all such Alternate Closing Securities, when and if issued, the “Purchase Option Alternate Closing Securities”), to Holdings in partial payment of the Purchase
Price in accordance with the terms of the Purchase Option Agreement; 
 WHEREAS, in connection with the Warrant Purchase
Agreement by and between the parties hereto of even date herewith (the “Warrant Purchase Agreement”), Dynavax has agreed, upon the terms and subject to the conditions of the Warrant Purchase Agreement, to issue and sell to
Holdings (a) certain warrants (the “Warrants”) which will be exercisable to purchase shares of Dynavax Common Stock (such shares of Dynavax Common Stock as exercised, the “Warrant Shares”) in
accordance with the terms of the Warrant Purchase Agreement and the Warrants or (b) the Alternate Closing Securities (as defined in the Warrant Purchase Agreement) (all such Alternate Closing Securities, when and if issued, the
“Warrant Alternate Closing Securities”); 
 WHEREAS, pursuant to a post-closing adjustment set
forth in Section 2B(a) of the Purchase Option Agreement, Dynavax may issue Alternate Securities (as defined in the Purchase Option Agreement) (all such Alternate Securities, when and if issued, the “Purchase Option
Adjustment Securities”) to Holdings; 
 WHEREAS, pursuant to a post-closing adjustment set
forth in Section 2.05 of the Warrant Purchase Agreement, Dynavax may issue Alternate Securities (as defined in the Warrant Purchase Agreement) (all such Alternate Securities, when and if issued, the “Warrant Adjustment
Securities”) to Holdings; 
 WHEREAS, pursuant to the Dynavax Promissory Note (as defined in the Purchase
Option Agreement), Dynavax may issue to Holdings shares of Dynavax Common Stock as repayment thereunder (all such Dynavax Common Stock, when and if issued, the “Promissory Note Securities”); 
 WHEREAS, Dynavax and Holdings are party to that certain Registration Rights Agreement dated as of April 18, 2006 (the
“Original Agreement”), pursuant to which Dynavax has agreed to provide certain registration rights under the Securities Act of 1933, as amended (the “Securities Act”), and applicable state securities
laws with respect to the Purchase Option Shares; and 
 WHEREAS, the parties to the Original Agreement desire to amend
and restate the Original Agreement and accept the rights and covenants hereof in lieu of their rights and covenants under the Original Agreement. 
  

					
		  		  	Amended And Restated Registration Rights Agreement

 NOW, THEREFORE, in consideration of the premises and the mutual covenants
contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Dynavax and Holdings (the “Parties”) hereby agree as follows: 
 Section 1. Definitions. 
 (a) Capitalized terms used but not defined herein are used as defined in Purchase Option Agreement (including Annex A thereto). 
 (b) As used in this Agreement, the following terms shall have the following meanings: 
 (i) “Effective Registration Date” means the date that the Registration Statement (as defined below)
is first declared effective by the SEC. 
 (ii) “Investor(s)” means Holdings, any
transferee or assignee thereof to whom Holdings assigns its rights under this Agreement and who agrees to become bound by the provisions of this Agreement in accordance with Section 9 and any transferee or assignee thereof to whom a
transferee or assignee assigns its rights under this Agreement and who agrees to become bound by the provisions of this Agreement in accordance with Section 9. 
 (iii) “Purchase Option Related Registrable Securities” means (i) the Purchase Option Shares,
(ii) any Dynavax Common Stock issued with respect to the Purchase Option Shares as a result of any stock split, stock dividend, recapitalization, exchange or similar event or otherwise, (iii) the Purchase Option Alternate Closing
Securities and (iv) the Purchase Option Adjustment Securities 
 (iv) “register,”
“registered,” and “registration” refer to a registration effected by preparing and filing one or more Registration Statements in compliance with the Securities Act and pursuant to Rule 415, and the
declaration or ordering of effectiveness of such Registration Statement(s) by the SEC. 
 (v)
“Registrable Securities” means, collectively, the Warrant Related Registrable Securities, the Purchase Option Related Registrable Securities and the Promissory Note Securities; provided, however, that any such
securities will cease to be Registrable Securities on the earlier of (A) the date as of which the Investor(s) may sell such securities without restriction pursuant to Rule 144(b)(i) (or successor thereto) promulgated under the Securities Act,
or (B) the date on which the Investor(s) shall have sold all such securities. 
 (vi)
“Registration Statement” means a registration statement or registration statements of Dynavax filed under the Securities Act covering the Registrable Securities. 
 (vii) “Rule 144” has the meaning set forth in Section 8 of this Agreement. 
 (viii) “Rule 415” means Rule 415 under the Securities Act or any successor rule providing for
offering securities on a continuous or delayed basis. 
 (ix) “Warrant Related Registrable
Securities” means (i) the Warrant Shares issued or issuable upon exercise of the Warrant, (ii) any shares of capital stock issued or issuable with respect to the Warrant Shares or the Warrant as a result of any stock split,
stock dividend, recapitalization, exchange or similar event or otherwise, and in the case of the Warrant, without regard to any limitations on exercise, (iii) the Warrant Alternate Closing Securities and (iv) the Warrant Adjustment
Securities. 
  

					
		  	2	  	Amended And Restated Registration Rights Agreement

 Section 2. Registration. Right to Registration. 
 (i) Dynavax shall prepare and, as soon as practicable but in no event later than two (2) Business Days after the
Purchase Option Closing Date and each Adjusted Securities Payment Date (as defined in the Purchase Option Agreement), file with the SEC a Registration Statement on Form S-3 covering the resale of the then unregistered Registrable Securities (except
for any Promissory Note Securities). Each Registration Statement prepared pursuant hereto shall register for resale that number of shares of Dynavax Common Stock equal to (A) the number of the then unregistered Related Registrable Securities
(except for any Promissory Note Securities) constituting Dynavax Common Stock, plus (B) the maximum number of shares of Dynavax Common Stock issuable upon the exercise, conversion or exchange (as set forth in the instrument relating
thereto, assuming the satisfaction of any conditions to exercisability, convertibility or exchangeability but without regard to any provision contained therein for a subsequent adjustment of such number) of the then unregistered Registrable
Securities (other than the Registrable Securities constituting Dynavax Common Stock and any Promissory Note Securities), in each case, as of the trading day immediately preceding the date such Registration Statement is initially filed with the SEC,
subject to adjustment as provided in Sections 2(c). Dynavax shall use commercially reasonable efforts to have each such Registration Statement declared effective by the SEC as soon as practicable following the Purchase Option Closing Date or
Adjusted Securities Payment Date, as applicable. 
 (ii) Concurrently with the issuance of any Promissory Note
Securities, Dynavax shall prepare and file with the SEC a Registration Statement on Form S-3 covering the resale of the then unregistered Promissory Note Securities. Each Registration Statement prepared pursuant hereto shall register for resale that
number of shares of Dynavax Common Stock equal to the number of the then unregistered Promissory Note Securities constituting Dynavax Common Stock as of the trading day immediately preceding the date such Registration Statement is initially filed
with the SEC, subject to adjustment as provided in Section 2(c). Dynavax shall use commercially reasonable efforts to have each such Registration Statement declared effective by the SEC as soon as practicable following the issuance of
any Promissory Note Securities. 
 (b) Ineligibility for Form S-3. In the event that Form S-3 is not available for the
registration of the resale of Registrable Securities hereunder, Dynavax shall (i) register the resale of the Registrable Securities on another appropriate form reasonably acceptable to Holdings (which acceptable forms shall include Form S-1);
and (ii) undertake to register the Registrable Securities on Form S-3 as soon as such form is available; provided that Dynavax shall maintain the effectiveness of the Registration Statement then in effect until such time as a
Registration Statement on Form S-3 covering the Registrable Securities has been declared effective by the SEC. 
 (c)
Sufficient Number of Shares Registered. In the event the number of shares available under a Registration Statement filed pursuant to Section 2(a) is insufficient to cover all of the Registrable Securities required to be covered by
such Registration Statement, Dynavax shall amend the applicable Registration Statement, or file a new Registration Statement (on the short form available therefor, if applicable), or both, so as to cover at least 100% of the number of such
Registrable Securities as of the trading day immediately preceding the date of the filing of such amendment or new Registration Statement, in each case, as soon as practicable, but in any event not later than fifteen (15) days after Dynavax
becomes aware of the necessity therefor. Dynavax shall use commercially reasonable efforts to cause such amendment and/or new Registration Statement to become effective as soon as practicable following the filing thereof. For purposes of the
foregoing provision, the number of shares available under a Registration Statement shall be deemed “insufficient to cover all of the Registrable Securities” if at any time the number of shares of Dynavax Common Stock available for resale
under such Registration Statement is less than the number of Registrable Securities. The calculation set forth in the foregoing sentence shall be made without regard to any limitations on the exercise of any Warrant and such calculation shall assume
that each Warrant is then exercisable into shares of Dynavax Common Stock. 
  

					
		  	3	  	Amended And Restated Registration Rights Agreement

 Section 3. Related Obligations. At such time as Dynavax is obligated to file a
Registration Statement with the SEC pursuant to Section 2(a), 2(b) or 2(c), Dynavax will use commercially reasonable efforts to effect the registration of the Registrable Securities in accordance with the Investors’
intended methods of disposition thereof and, pursuant thereto (except at such times as Dynavax may be required to delay or suspend the use of a prospectus forming a part of the Registration Statement pursuant to Section 3(l), at which
time Dynavax’s obligations under Sections 3(a), (b), (c), (d), (i) and (k) may also be suspended, as required), Dynavax shall have the following obligations: 
 (a) Dynavax shall keep each Registration Statement effective pursuant to Rule 415 at all times until the earlier of (i) the date as of
which the Investor(s) may sell all of the Registrable Securities covered by such Registration Statement without restriction pursuant to Rule 144(b)(i) (or successor thereto) promulgated under the Securities Act, or (ii) the date on which the
Investor(s) shall have sold all the Registrable Securities covered by such Registration Statement (the “Registration Period”). 
 (b) Dynavax shall prepare and file with the SEC such amendments (including post-effective amendments) and supplements to a Registration Statement and the prospectus used in connection with such
Registration Statement as may be necessary to keep such Registration Statement effective at all times during the Registration Period, and, during such period, comply with the provisions of the Securities Act with respect to the disposition of all
Registrable Securities of Dynavax covered by such Registration Statement until such time as all of such Registrable Securities shall have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof as set
forth in such Registration Statement. In the case of amendments and supplements to a Registration Statement which are required to be filed pursuant to this Agreement (including pursuant to this Section 3(b)) by reason of Dynavax filing a
report on Form 10-K, Form 10-Q or Form 8-K or any analogous report under the Exchange Act, Dynavax shall have incorporated such report by reference into such Registration Statement, if applicable, or shall file such amendments or supplements with
the SEC on the same day on which the Exchange Act report is filed which created the requirement for Dynavax to amend or supplement such Registration Statement. 
 (c) Dynavax shall furnish to each Investor whose Registrable Securities are included in any Registration Statement, without charge, (i) promptly after the same is prepared and filed with the SEC, at
least one copy of such Registration Statement and any amendment(s) thereto, including financial statements and schedules, and each preliminary prospectus; (ii) upon the effectiveness of any Registration Statement, one (1) copy of the
prospectus included in such Registration Statement and all amendments and supplements thereto (or such other number of copies as such Investor may reasonably request); and (iii) such other documents, including copies of any preliminary or final
prospectus, as such Investor may reasonably request from time to time in order to facilitate the disposition of the Registrable Securities owned by such Investor. 
 (d) Dynavax shall use commercially reasonable efforts to (i) register and qualify, unless an exemption from registration and qualification applies, the resale by Investor(s) of the Registrable
Securities covered by a Registration Statement under such other securities or “blue sky” laws of such jurisdictions in the United States as Investor(s) reasonably request; (ii) prepare and file in those jurisdictions such amendments
(including post-effective amendments) and supplements to such registrations and qualifications as may be necessary to maintain the effectiveness thereof during the Registration Period; and (iii) take such other actions as may be necessary to
maintain such registrations and qualifications in effect at all times during the Registration Period; provided, however, that Dynavax shall not be required in connection therewith or as a condition thereto to (x) qualify to do
business in any jurisdiction where it would not otherwise be required to qualify but for this Section 3(d), (y) subject itself to general taxation in any such jurisdiction, or (z) file a general consent to service of process in
any such jurisdiction. Dynavax shall promptly notify each Investor who holds Registrable Securities of the receipt by Dynavax of any notification with respect to the suspension of the registration or qualification of any of the Registrable
Securities for sale under the securities or “blue sky” laws of any jurisdiction in the United States or its receipt of actual notice of the initiation or threatening of any proceeding for such purpose. 
 (e) Dynavax shall notify each Investor in writing of the happening of any event (without an obligation to provide the details of such
event), as promptly as practicable after becoming aware of such event, as a result of which the prospectus included in a Registration Statement, as then in effect, includes an untrue statement of a material fact or omission to state a material fact
required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and, subject to Section 3(l) hereof, promptly prepare a supplement or amendment to
such Registration Statement to correct such untrue statement or omission. Dynavax shall also promptly notify each Investor in writing when a prospectus or any prospectus supplement or post-effective amendment has been filed, and when a Registration
Statement or any post-effective amendment has become effective. 
  

					
		  	4	  	Amended And Restated Registration Rights Agreement

 (f) Dynavax shall use commercially reasonable efforts to prevent the issuance of any stop
order or other suspension of effectiveness of a Registration Statement, or the suspension of the qualification of any of the Registrable Securities for sale in any jurisdiction and, if such an order or suspension is issued, to obtain the withdrawal
of such order or suspension at the earliest possible moment. 
 (g) In the event that any Investor reasonably believes that it
may be deemed to be an “underwriter” with respect to the Registrable Securities, upon the written request of such Investor in connection with such Investor’s due diligence requirements, if any, Dynavax shall make available for
inspection by (i) such Investor, and (ii) any legal counsel, accountants or other agents retained by the Investor (collectively, “Inspectors”), all pertinent financial and other records, and pertinent corporate
documents and properties of Dynavax (collectively, “Records”), as shall be reasonably deemed necessary by each Inspector, and cause Dynavax’s officers, directors and employees to supply all information which any
Inspector may reasonably request; provided, however, that each Inspector and such Investor shall agree (and if requested by Dynavax shall agree in writing) to hold in strict confidence and shall not make any disclosure (except with
respect to an Inspector, to the relevant Investor) or use of any Record or other information which Dynavax determines in good faith to be confidential, and of which determination the Inspectors are so notified, unless the release of such Records is
ordered pursuant to a final, non-appealable subpoena or order from a court or government body of competent jurisdiction. Each Investor agrees that it shall, upon learning that disclosure of such Records is required or is sought in or by a court or
governmental body of competent jurisdiction or through other means, give prompt notice to Dynavax and allow Dynavax, at its expense, to undertake appropriate action to prevent disclosure of, or to obtain a protective order for, the Records deemed
confidential. Nothing herein (or in any other confidentiality agreement between Dynavax and any Investor) shall be deemed to limit the Investor(s)’ ability to sell Registrable Securities in a manner which is otherwise consistent with applicable
laws and regulations. 
 (h) Dynavax shall hold in confidence and not make any disclosure of information concerning an Investor
provided to Dynavax unless (i) disclosure of such information is necessary to comply with federal or state securities laws or the rules of any securities exchange or trading market on which the Dynavax Common Stock is listed or traded,
(ii) the disclosure of such information is necessary to avoid or correct a misstatement or omission in any Registration Statement, or (iii) the release of such information is ordered pursuant to a subpoena or other final, non-appealable
order from a court or governmental body of competent jurisdiction. Dynavax agrees that it shall, upon learning that disclosure of such information concerning an Investor is sought in or by a court or governmental body of competent jurisdiction or
through other means, give prompt written notice to such Investor and allow such Investor, at the Investor’s expense, to undertake appropriate action to prevent disclosure of, or to obtain a protective order for, such information. 
 (i) Dynavax shall use commercially reasonable efforts either to (i) cause all the Registrable Securities covered by a Registration
Statement to be listed on each securities exchange on which securities of the same class or series issued by Dynavax are then listed, if any, if the listing of such Registrable Securities is then permitted under the rules of such exchange, or
(ii) secure designation and quotation of all the Registrable Securities covered by a Registration Statement on the NASDAQ National Market. Dynavax shall pay all fees and expenses in connection with satisfying its obligation under this
Section 3(i). 
 (j) Dynavax shall cooperate with the Investor(s) who hold Registrable Securities being offered and,
to the extent applicable, facilitate the timely preparation and delivery of certificates representing the Registrable Securities to be offered pursuant to a Registration Statement and enable such certificates to be in such denominations or amounts,
as the case may be, as the Investor(s) may reasonably request and registered in such names as the Investor(s) may request. 
 (k) If requested by an Investor, Dynavax shall (i) as soon as practicable incorporate in a prospectus supplement or post-effective amendment such information as an Investor reasonably requests to be included therein relating to the
sale and distribution of Registrable Securities, including, without limitation, information with respect to the plan of distribution, the number of Registrable Securities being offered or sold, the purchase price being paid therefor and any other
terms of the offering of the Registrable Securities to be sold in such offering and (ii) as soon as practicable make all required filings of such prospectus supplement or post-effective amendment after being notified of the matters to be
incorporated in such prospectus supplement or post-effective amendment. 
  

					
		  	5	  	Amended And Restated Registration Rights Agreement

 (l) Notwithstanding anything to the contrary herein, at any time after the Registration
Statement has been declared effective by the SEC, Dynavax may delay or suspend the effectiveness of any Registration Statement or the use of any prospectus forming a part of the Registration Statement due to the non-disclosure of material,
non-public information concerning Dynavax the disclosure of which at the time is not, in the good faith opinion of Dynavax, in the best interest of Dynavax (a “Grace Period”); provided, that Dynavax shall promptly
notify the Investor(s) in writing of the existence of a Grace Period in conformity with the provisions of this Section 3(l) and the date on which the Grace Period will begin (such notice, a “Commencement Notice”);
and, provided further, that no Grace Period shall exceed forty-five (45) days, and such Grace Periods shall not exceed an aggregate total of ninety (90) days during any three hundred sixty five (365) day period. For
purposes of determining the length of a Grace Period above, the Grace Period shall begin on and include the date specified by Dynavax in the Commencement Notice and shall end on and include the date the Investor(s) receive written notice of the
termination of the Grace Period by Dynavax (which notice may be contained in the Commencement Notice). The provisions of Section 3(f) hereof shall not be applicable during any Grace Period. Upon expiration of the Grace Period, Dynavax
shall again be bound by the first sentence of Section 3(e) with respect to the information giving rise thereto unless such material, non-public information is no longer applicable. Notwithstanding anything to the contrary, Dynavax shall
cause its transfer agent to deliver unlegended shares of Dynavax Common Stock to a transferee of an Investor in accordance with the terms of the Warrant Purchase Agreement in connection with any sale of Registrable Securities with respect to which
an Investor has entered into a contract for sale, and delivered a copy of the prospectus included as part of the applicable Registration Statement, prior to the Investor’s receipt of the notice of a Grace Period and for which the Investor has
not yet settled. 
 Section 4. Obligations of the Investor(s). 
 (a) At least seven (7) Business Days prior to the first anticipated filing date of a Registration Statement, Dynavax shall notify each
Investor in writing of the information Dynavax requires from each such Investor if such Investor elects to have any of such Investor’s Registrable Securities included in such Registration Statement. It shall be a condition precedent to the
obligations of Dynavax to complete the registration pursuant to this Agreement with respect to the Registrable Securities of a particular Investor that such Investor shall furnish to Dynavax such information regarding itself, the Registrable
Securities held by it and the intended method of disposition of the Registrable Securities held by it as shall be reasonably required to effect the effectiveness of the registration of such Registrable Securities and shall execute such documents in
connection with such registration as Dynavax may reasonably request. 
 (b) Each Investor, by such Investor’s acceptance of
the Registrable Securities, agrees to cooperate with Dynavax as reasonably requested by Dynavax in connection with the preparation and filing of any Registration Statement hereunder, unless such Investor has notified Dynavax in writing of such
Investor’s election to exclude all of such Investor’s Registrable Securities from such Registration Statement. 
 (c)
Each Investor agrees that, upon receipt of any notice from Dynavax of the happening of any event of the kind described in Section 3(f) or the first sentence of Section 3(e), such Investor will immediately discontinue
disposition of Registrable Securities pursuant to any Registration Statement(s) covering such Registrable Securities until such Investor’s receipt of the copies of the supplemented or amended prospectus contemplated by the second sentence of
Section 3(e) or receipt of notice that no supplement or amendment is required. 
 (d) Each Investor covenants and
agrees that it will comply with any applicable prospectus delivery requirements of the Securities Act as applicable to it in connection with sales of Registrable Securities pursuant to a Registration Statement. 
  

					
		  	6	  	Amended And Restated Registration Rights Agreement

 Section 5. Expenses of Registration. All reasonable expenses, other than
underwriting discounts and commissions, incurred in connection with registrations, filings or qualifications pursuant to Sections 2 and 3 hereof, including, without limitation, all registration, listing and qualifications fees,
printers and accounting fees, and fees and disbursements of counsel for Dynavax shall be paid by Dynavax. All underwriting discounts and selling commissions applicable to the sale of the Registrable Securities shall be paid by the Investor(s),
provided, however, that Dynavax shall reimburse the Investor(s) for the reasonable actual fees and disbursements of one legal counsel designated by the holders of at least a majority of the Registrable Securities in connection with
registration, filing or qualification pursuant to Sections 2 and 3 of this Agreement, which amount shall be limited to $40,000 in total over the term of this Agreement. 
 Section 6. Indemnification. In the event any Registrable Securities are included in a Registration Statement under this
Agreement: 
 (a) To the fullest extent permitted by law, Dynavax will, and hereby does, indemnify and hold harmless each
Investor, the directors, officers, partners, members, employees, agents, representatives of, and each Person, if any, who controls any Investor within the meaning of the Securities Act or the Exchange Act (each, an “Investor Indemnified
Person”), against any losses, claims, damages, liabilities, judgments, fines, penalties, charges, costs, reasonable attorneys’ fees, amounts paid in settlement or expenses, joint or several (collectively,
“Claims”), incurred in investigating, preparing or defending any action, claim, suit, inquiry, proceeding, investigation or appeal taken from the foregoing by or before any court or governmental, administrative or other
regulatory agency, body or the SEC, whether pending or threatened, whether or not an Indemnified Person is or may be a party thereto (“Indemnified Damages”), to which any of them may become subject insofar as such Claims (or
actions or proceedings, whether commenced or threatened, in respect thereof) arise out of or are based upon: (i) any untrue statement or alleged untrue statement of a material fact in a Registration Statement or any post-effective amendment
thereto or in any filing made in connection with the qualification of the offering under the securities or other “blue sky” laws of any jurisdiction in which Registrable Securities are offered (“Blue Sky Filing”),
or the omission or alleged omission to state a material fact required to be stated therein or necessary to make the statements therein not misleading; (ii) any untrue statement or alleged untrue statement of a material fact contained in any
preliminary prospectus if used prior to the Effective Registration Date of such Registration Statement, or contained in the final prospectus (as amended or supplemented, if Dynavax files any amendment thereof or supplement thereto with the SEC) or
the omission or alleged omission to state therein any material fact necessary to make the statements made therein, in the light of the circumstances under which the statements therein were made, not misleading; (iii) any violation or alleged
violation by Dynavax of any federal, state or common law, rule or regulation applicable to Dynavax in connection with any Registration Statement, prospectus or any preliminary prospectus, any amendment or supplement thereto, or the issuance of any
Registrable Securities to Holdings; or (iv) any material violation of this Agreement (the matters in the foregoing clauses (i) through (iv) being, collectively, “Violations”). Subject to
Section 6(c), Dynavax shall reimburse the Investor Indemnified Persons, promptly as such expenses are incurred and are due and payable, for any reasonable legal fees or other reasonable expenses incurred by them in connection with
investigating or defending any such Claim. Notwithstanding anything to the contrary contained herein, the indemnification agreement contained in this Section 6(a): (A) shall not apply to a Claim by an Investor Indemnified Person
arising out of or based upon a Violation that occurs in reliance upon and in conformity with information furnished in writing to Dynavax by or on behalf of any such Investor Indemnified Person expressly for use in connection with the preparation of
the Registration Statement or any such amendment thereof or supplement thereto if such information was timely made available by Dynavax pursuant to Section 3(c); (B) with respect to any preliminary prospectus, shall not inure to the
benefit of any such Person from whom the Person asserting any such Claim purchased the Registrable Securities that are the subject thereof (or to the benefit of any Person controlling such Person) if the untrue statement or omission of material fact
contained in the preliminary prospectus was corrected in the prospectus, as then amended or supplemented, if such prospectus was timely made available by Dynavax pursuant to Section 3(d), and the Investor Indemnified Person was promptly
advised in writing not to use the incorrect prospectus prior to the use giving rise to a violation and such Investor Indemnified Person, notwithstanding such advice, used it or failed to deliver the correct prospectus as required by the Securities
Act and such correct prospectus was timely made available pursuant to Section 3(d); (C) shall not be available to the extent such Claim is based on a failure of the Investor Indemnified Person to deliver or to cause to be delivered
the

  

					
		  	7	  	Amended And Restated Registration Rights Agreement

 
prospectus made available by Dynavax, including a corrected prospectus, if such prospectus or corrected prospectus was timely made available by Dynavax pursuant to Section 3(d); and
(D) shall not apply to amounts paid in settlement of any Claim if such settlement is effected without the prior written consent of Dynavax, which consent shall not be unreasonably withheld or delayed. Such indemnity shall remain full force and
effect regardless of any investigation made by or on behalf of the Investor Indemnified Person and shall survive the transfer of the Registrable Securities by the Investor(s) pursuant to Section 9. Dynavax shall also provide customary
indemnities to any underwriters of the Registrable Securities, their officers, directors and employees and each Person who controls such underwriters (within the meaning of Section 15 of the Securities Act) to the same extent as provided above
with respect to the indemnification of Investor Indemnified Persons. 
 (b) In connection with any Registration Statement in
which an Investor is participating, each such Investor agrees to severally and not jointly indemnify, and hold harmless, to the same extent and in the same manner as is set forth in Section 6(a), Dynavax, each of its directors, each of
its officers who signs the Registration Statement and each Person, if any, who controls Dynavax within the meaning of the Securities Act or the Exchange Act (each, a “Company Indemnified Person”), against any Claim or
Indemnified Damages to which any of them may become subject, under the Securities Act, the Exchange Act or otherwise, insofar as such Claim or Indemnified Damages arise out of or are based upon any Violation, in each case to the extent, and only to
the extent, that such Violation occurs in reliance upon and in conformity with written information furnished to Dynavax by such Investor expressly for use in connection with such Registration Statement; and, subject to Section 6(d), such
Investor will reimburse, promptly as such expenses are incurred and are due and payable, any legal or other expenses reasonably incurred by a Company Indemnified Person in connection with investigating or defending any such Claim; provided,
however, that the indemnity agreement contained in this Section 6(b) and the agreement with respect to contribution contained in Section 7 shall not apply to amounts paid in settlement of any Claim if such settlement
is effected without the prior written consent of such Investor, which consent shall not be unreasonably withheld or delayed; provided, further, however, that an Investor shall be liable under this Section 6(b) for
only that amount of a Claim or Indemnified Damages as does not exceed the net proceeds to such Investor as a result of the sale of Registrable Securities pursuant to such Registration Statement. Such indemnity shall remain in full force and effect
regardless of any investigation made by or on behalf of such Company Indemnified Person and shall survive the transfer of the Registrable Securities by the Investor(s) pursuant to Section 9. Notwithstanding anything to the contrary
contained herein, the indemnification agreement contained in this Section 6(b) with respect to any preliminary prospectus shall not inure to the benefit of any Company Indemnified Person if the untrue statement or omission of material
fact contained in the preliminary prospectus was corrected on a timely basis in the prospectus, as then amended or supplemented. 
 (c) If either an Investor Indemnified Person or a Company Indemnified Person (an “Indemnified Person”) proposes to assert a right to be indemnified under this Section 6, such Indemnified Person shall
notify either Dynavax or the relevant Investor(s), as applicable (the “Indemnifying Person”), promptly after receipt of notice of commencement of any action, suit or proceeding against such Indemnified Person (an
“Indemnified Proceeding”) in respect of which a Claim is to be made under this Section 6, or the incurrence or realization of any Indemnified Damages in respect of which a Claim is to be made under this
Section 6, of the commencement of such Indemnified Proceeding or of such incurrence or realization, enclosing a copy of all relevant documents, including all papers served and claims made, but the omission to so notify the applicable
Indemnifying Person promptly of any such Indemnified Proceeding or incurrence or realization shall not relieve (x) such Indemnifying Person from any liability that it may have to such Indemnified Person under this Section 6 or
otherwise, except, as to such Indemnifying Person’s liability under this Section 6, to the extent, but only to the extent, that such Indemnifying Person shall have been prejudiced by such omission, or (y) any other Indemnifying
Person from liability that it may have to any Indemnified Person under the Operative Documents. 
 (d) In case any Indemnified
Proceeding shall be brought against any Indemnified Person and it shall notify the applicable Indemnifying Person of the commencement thereof as provided by Section 6(c) and such Indemnifying Person shall be entitled to participate in,
and provided such Indemnified Proceeding involves a claim solely for money damages and does not seek an injunction or other equitable relief against the Indemnified Person and is not a criminal or regulatory action, to assume the defense of, such
Indemnified Proceeding with counsel reasonably satisfactory to such Indemnified Person, and after notice from such Indemnifying Person to such Indemnified Person of such Indemnifying Person’s election so to assume the defense thereof and the
failure by such

  

					
		  	8	  	Amended And Restated Registration Rights Agreement

 
Indemnified Person to object to such counsel within ten (10) Business Days following its receipt of such notice, such Indemnifying Person shall not be liable to such Indemnified Person for
legal or other expenses related to such Indemnified Proceedings incurred after such notice of election to assume such defense except as provided below and except for the reasonable costs of investigating, monitoring or cooperating in such defense
subsequently incurred by such Indemnified Person reasonably necessary in connection with the defense thereof. Such Indemnified Person shall have the right to employ its counsel in any such Indemnified Proceeding, but the reasonable fees and expenses
of such counsel shall be at the expense of such Indemnified Person unless: 
 (i) the employment of counsel by
such Indemnified Person at the expense of the applicable Indemnifying Person has been authorized in writing by such Indemnifying Person; 
 (ii) such Indemnified Person shall have reasonably concluded in its good faith (which conclusion shall be determinative unless a court determines that such conclusion was not reached reasonably and in
good faith) that there is or may be a conflict of interest between the applicable Indemnifying Person and such Indemnified Person in the conduct of the defense of such Indemnified Proceeding or that there are or may be one or more different or
additional defenses, claims, counterclaims, or causes of action available to such Indemnified Person (it being agreed that in any case referred to in this clause (ii) such Indemnifying Person shall not have the right to direct the defense of
such Indemnified Proceeding on behalf of the Indemnified Person); 
 (iii) the applicable Indemnifying Person
shall not have employed counsel reasonably acceptable to the Indemnified Person, to assume the defense of such Indemnified Proceeding within a reasonable time after notice of the commencement thereof (provided, however, that this
clause shall not be deemed to constitute a waiver of any conflict of interest that may arise with respect to any such counsel); or 
 (iv) any counsel employed by the applicable Indemnifying Person shall fail to timely commence or diligently conduct the defense of such Indemnified Proceeding and such failure has materially prejudiced
(or, in the reasonable judgment of the Indemnified Person, is in danger of materially prejudicing) the outcome of such Indemnified Proceeding; 
 in each of which cases the reasonable fees and expenses of counsel for such Indemnified Person shall be at the expense of such Indemnifying Person. Only one counsel shall be retained by all Indemnified Persons with respect to any
Indemnified Proceeding, unless counsel for any Indemnified Person reasonably concludes in good faith (which conclusion shall be determinative unless a court determines that such conclusion was not reached reasonably and in good faith) that there is
or may be a conflict of interest between such Indemnified Person and one or more other Indemnified Persons in the conduct of the defense of such Indemnified Proceeding or that there are or may be one or more different or additional defenses, claims,
counterclaims, or causes or action available to such Indemnified Person. 
 (e) Without the prior written consent of such
Indemnified Person, such Indemnifying Person shall not settle or compromise, or consent to the entry of any judgment in, any pending or threatened Indemnified Proceeding, unless such settlement, compromise, consent or related judgment
(i) includes an unconditional release of such Indemnified Person from all liability for Losses arising out of such claim, action, investigation, suit or other legal proceeding, (ii) provides for the payment of money damages as the sole
relief for the claimant (whether at law or in equity), (iii) involves no finding or admission of any violation of law or the rights of any Person by the Indemnified Person, and (iv) is not in the nature of a criminal or regulatory action.
No Indemnified Person shall settle or compromise, or consent to the entry of any judgment in, any pending or threatened Indemnified Proceeding in respect of which any payment would result hereunder or under the Operative Documents without the prior
written consent of the Indemnifying Person, such consent not to be unreasonably conditioned, withheld or delayed. 
 (f) The
indemnification required by this Section 6 shall be made by periodic payments of the amount of Claims during the course of the investigation or defense, as and when Indemnified Damages are incurred. 
  

					
		  	9	  	Amended And Restated Registration Rights Agreement

 Section 7. Contribution. To the extent any indemnification by an Indemnifying
Person is prohibited or limited by law, such Indemnifying Person agrees to make the maximum contribution with respect to any amounts for which it would otherwise be liable under Section 6 to the fullest extent permitted by law;
provided, however, that: (i) no Person involved in the sale of Registrable Securities which Person is guilty of fraudulent misrepresentation (within the meaning Section 11(f) of the Securities Act) in connection with such
sale shall be entitled to contribution from any Person involved in such sale of Registrable Securities who was not guilty of fraudulent misrepresentation; and (ii) the obligation to contribute shall be several and not joint and contribution by
any seller of Registrable Securities shall be limited in amount to the net amount of proceeds received by such seller from the sale of such Registrable Securities pursuant to such Registration Statement. 
 Section 8. Reports Under The Exchange Act. With a view to making available to the Investor(s) the benefits of Rule 144
promulgated under the Securities Act or any other similar rule or regulation of the SEC that may at any time permit the Investor(s) to sell securities of Dynavax to the public without registration (“Rule 144”), Dynavax agrees
to use commercially reasonable efforts to: 
 (a) make and keep public information available, as those terms are understood and
defined in Rule 144; 
 (b) file with the SEC in a timely manner all reports and other documents required of Dynavax under the
Securities Act and the Exchange Act so long as Dynavax remains subject to such requirements and the filing of such reports and other documents is required for the applicable provisions of Rule 144; and 
 (c) furnish to each Investor so long as such Investor owns Registrable Securities, promptly upon request, (i) a written statement by
Dynavax, if true, that it has complied with the reporting requirements of Rule 144, the Securities Act and the Exchange Act, (ii) a copy of the most recent annual or quarterly report of Dynavax and such other reports and documents so filed by
Dynavax, and (iii) such other information as may be reasonably requested to permit the Investor(s) to sell such securities pursuant to Rule 144 without registration. 
 Section 9. Assignment of Registration Rights. The rights under this Agreement shall be automatically assignable by the Investor(s) to any transferee of all or at least 50,000 shares of such
Investor’s Registrable Securities (or if an Investor shall hold less than 50,000 such shares, then a transfer of all such shares) if: (i) the Investor agrees in writing with the transferee or assignee to assign such rights, and a copy of
such agreement is furnished to Dynavax within a reasonable time after such assignment; (ii) Dynavax is, within a reasonable time after such transfer or assignment, furnished with written notice of (A) the name and address of such
transferee or assignee, and (B) the securities with respect to which such registration rights are being transferred or assigned; (iii) immediately following such transfer or assignment the further disposition of such securities by the
transferee or assignee is restricted under the Securities Act and applicable state securities laws; (iv) at or before the time Dynavax receives the written notice contemplated by clause (ii) of this sentence the transferee or
assignee agrees in writing with Dynavax to be bound by all of the provisions contained herein; and (v) (A) in the case of a transfer of Warrant Related Registrable Securities, such transfer shall have been made in accordance with the
applicable requirements, if any, of the Warrant Purchase Agreement, and (B) in the case of a transfer of the Purchase Option Related Registrable Securities, such transfer shall have been made in accordance with the applicable requirements, if
any, of the Purchase Option Agreement. 
 Section 10. Amendment of Registration Rights. 
 (a) The terms of this Agreement shall not be altered, modified, amended, waived or supplemented in any manner whatsoever except by a written
instrument signed by each of (i) Dynavax and (ii) Investor(s) holding a majority of the Registrable Securities (other than in the case of any alteration, modification,

  

					
		  	10	  	Amended And Restated Registration Rights Agreement

 
amendment, waiver or supplement which affects any individual Investor in a manner that is less favorable or more detrimental to such Investor than to the other Investor(s) solely based on the
face of such alteration, modification, amendment, waiver or supplement and without regard to the number of Registrable Securities held by such Investor, in which case, such alteration, modification, amendment, waiver or supplement must also be
approved by such less favorably or more detrimentally treated Investor). 
 (b) Notwithstanding Section 10(a), any
party hereto may waive, solely with respect to itself, any one or more of its rights hereunder without the consent of any other party hereto; provided that no such waiver shall be effective unless set forth in a written instrument executed by
the party against whom such waiver is to be effective. 
 Section 11. Miscellaneous. 
 (a) A Person is deemed to be a holder of Registrable Securities whenever such Person owns or is deemed to own of record such Registrable
Securities. If Dynavax receives conflicting instructions, notices or elections from two or more Persons with respect to the same Registrable Securities, Dynavax shall act upon the basis of instructions, notice or election received from the such
record owner of such Registrable Securities. 
 (b) Any notice, request, demand, waiver, consent, approval or other
communication which is required or permitted to be given to any party hereto shall be in writing and shall be deemed given only if delivered to the party personally or sent to the party by facsimile transmission (promptly followed by a hard-copy
delivered in accordance with this Section 11(b)), by next Business Day delivery by a nationally recognized courier service, or by registered or certified mail (return receipt requested), with postage and registration or certification
fees thereon prepaid, addressed to the party at its address set forth below: 
 If to Dynavax: 
 Dynavax Technologies Corporation 
 2929 Seventh Street, Suite 100 
 Berkeley, CA 94710 
 Attn: Michael S. Ostrach, Esq., Vice President, 
 Chief Business Officer and General Counsel 
 Facsimile: (510) 848-1327

 with copies to: 
 Cooley Godward Kronish LLP 
 Five Palo Alto Square, 4th Floor

 3000 El Camino Real 
 Palo Alto, CA 94306-2155 
 Attn: Glen Y. Sato, Esq. 
 Facsimile: (650) 849-7400 
 If to Holdings: 
 Symphony Dynamo Holdings LLC 
 7361 Calhoun Place, Suite 325 
 Rockville, MD 20850 
 Attn: Robert L. Smith, Jr. 
 Facsimile: (301) 762-6154 
  

					
		  	11	  	Amended And Restated Registration Rights Agreement

 with copies to: 
 Symphony Capital Partners, L.P. 
 875 Third Avenue, 3rd Floor 
 New York, NY 10022 
 Attn: Mark Kessel 
 Facsimile: (212) 632-5401 
 and 
 Symphony
Strategic Partners, LLC 
 875 Third Avenue, 3rd Floor 
 New York, NY 10022 
 Attn: Mark Kessel 
 Facsimile: (212) 632-5401 
 or to such other address as such party may from time to time specify by notice given in the manner provided herein to each other party entitled to receive notice hereunder. 
 (c) This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York; except to the
extent that this Agreement pertains to the internal governance of Holdings or Dynavax, and to such extent this Agreement shall be governed and construed in accordance with the laws of the State of Delaware. 
 (d) Each of the parties hereto hereby irrevocably and unconditionally submits, for itself and its property, to the nonexclusive jurisdiction
of any New York State court, any Delaware State court or federal court of the United States of America sitting in The City of New York, Borough of Manhattan or Wilmington, Delaware, and any appellate court from any jurisdiction thereof, in
any action or proceeding arising out of or relating to this Agreement, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or
proceeding may be heard and determined in any such New York State court, any such Delaware State court or, to the fullest extent permitted by law, in such federal court. Each of the parties hereto agrees that a final judgment in any such action or
proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement shall affect any right that any party hereto may otherwise have to bring any action
or proceeding relating to this Agreement. 
 (e) Each of the parties hereto irrevocably and unconditionally waives, to the
fullest extent it may legally and effectively do so, any objection that it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement in any New York State or federal court,
or any Delaware State or Federal court. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. Each of the
parties hereby consent to service of process by mail. 
 (f) WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO IRREVOCABLY
WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS AGREEMENT. 
 (g) Entire Agreement. This Agreement (including any Annexes, Schedules, Exhibits or other attachments hereto) constitutes the entire agreement between the parties hereto with respect to the
matters covered hereby and supersedes all prior agreements and understandings with respect to such matters between the parties hereto. 
  

					
		  	12	  	Amended And Restated Registration Rights Agreement

 (h) Successors; Assignment: Counterparts. 
 (i) Nothing expressed or implied herein is intended or shall be construed to confer upon or to give to any Person, other than
the parties hereto, any right, remedy or claim under or by reason of this Agreement or of any term, covenant or condition hereof, and all the terms, covenants, conditions, promises and agreements contained herein shall be for the sole and exclusive
benefit of the parties hereto and their successors and permitted assigns provided, however, that, subject to the requirements of Section 9, this Agreement shall inure to the benefit of and be binding upon the permitted
successors and assigns of each of the parties hereto. 
 (ii) This Agreement may be executed in one or more
counterparts, each of which, when executed, shall be deemed an original but all of which taken together shall constitute one and the same Agreement. 
 (i) Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall execute and deliver all such other agreements, certificates, instruments and documents,
as any other party may reasonably request in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated hereby. 
 (j) All consents and other determinations required to be made by the Investor(s) pursuant to this Agreement shall be made, unless otherwise
specified in this Agreement, by Investor(s) holding at least a majority of the Registrable Securities. 
 Section 12.
Original Agreement. The Original Agreement is hereby amended and superseded in its entirety and restated herein. Such amendment and restatement is effective upon execution of this Agreement by the parties hereto. Upon such execution, all
provisions of, rights granted and covenants made in the Original Agreement are hereby superseded in their entirety by the provisions hereof and shall have no further force or effect. 
 [SIGNATURES FOLLOW ON NEXT PAGE] 
  

					
		  	13	  	Amended And Restated Registration Rights Agreement

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their
respective officers or other representatives thereunto duly authorized, as of the date first above written. 
  

			
	DYNAVAX TECHNOLOGIES CORPORATION
		
	By:	 	 /s/ Michael S. Ostrach

	Name:	 	Michael S. Ostrach
	Title:	 	Vice President
	
	SYMPHONY DYNAMO HOLDINGS LLC
		
	By:	 	Symphony Capital Partners, L.P., its Manager
		
	By:	 	Symphony Capital GP, L.P., its general partner
		
	By:	 	Symphony GP, LLC, its general partner
		
	By:	 	 /s/ Mark Kessel

	Name:	 	Mark Kessel
	Title:	 	Managing Member

 Signature Page to
the Amended And Restated Registration Rights AgreementStandstill and Corporate Governance Agreement

 Exhibit 10.50 
 EXECUTION COPY 
 Symphony Dynamo Holdings LLC

 7361 Calhoun Place, Suite 325 
 Rockville, MD 20855 
 December 30, 2009 
 Dynavax Technologies Corporation 
 2929 Seventh
Street, Suite 100 
 Berkeley, CA 94710 
 Attn: Michael S. Ostrach, Esq., Vice President, 
 Chief Business Officer and General Counsel 
 Ladies and Gentlemen: 
 In connection with the
acquisition of shares of Common Stock, par value $0.001 per share (the “Common Stock”), of Dynavax Technologies Corporation, a Delaware corporation (the “Company”), by Symphony Dynamo Holdings LLC, a Delaware
limited liability company (together with its permitted successors, assigns and transferees, the “Purchaser”), pursuant to the terms of that certain Amended and Restated Purchase Option Agreement, dated as of November 9, 2009,
among the Company, the Purchaser and Symphony Dynamo, Inc. (the “Amended and Restated Purchase Option Agreement”), the Company and the Purchaser agree as follows: 
 1. Definitions. For purposes of this letter agreement, the following terms have the respective meanings set forth below: 

“Affiliate” shall mean, with respect to any Person, (i) any Person directly or indirectly controlling, controlled
by or under common control with such Person, (ii) any officer, director, general partner, member or trustee of such Person, or (iii) any Person who is an officer, director, general partner, member or trustee of any Person described in
clauses (i) or (ii) of this sentence. For purposes of this definition, the terms “controlling,” “controlled by” or “under common control with” shall mean the possession, direct or indirect, of
the power to direct or cause the direction of the management and policies of a Person or entity, whether through the ownership of voting securities, by contract or otherwise, or the power to elect at least 50% of the directors, managers, general
partners, or persons exercising similar authority with respect to such Person or entities. 
 “Beneficially
Owns” (including the terms “Beneficial Ownership” or “Beneficially Owned”) shall mean beneficial ownership within the meaning of Rule 13d-3 under the Exchange Act. 

 “Board” shall mean the Board of Directors of the Company. 
 “Exchange Act” shall mean the U.S. Securities Exchange Act of 1934, as amended. 
 “Person” shall mean any individual, partnership (whether general or limited), limited liability company, corporation,
trust, estate, association, nominee or other entity. 
 2. Standstill. Except for the exercise of the Dynavax Closing
Warrants (as defined in the Amended and Restated Purchase Option Agreement), the acquisition of Dynavax Closing Warrant Shares (as defined in the Amended and Restated Purchase Option Agreement), the acquisition of the Dynavax Promissory Note Shares
(as defined in the Amended and Restated Purchase Option Agreement) and the acquisition of Alternate Securities (as defined in the Amended and Restated Purchase Option Agreement), if any, for so long as the Purchaser and its Affiliates Beneficially
Own more than 10% of the Company’s outstanding Common Stock, neither the Purchaser nor any of its Affiliates shall, without the prior written consent of a majority of the independent members of the Board who are not Affiliated with the
Purchaser, in any manner, whether directly or indirectly: 
 (a) make, effect, initiate, cause or participate in (i) any
acquisition of Beneficial Ownership of any securities of the Company or any securities of any subsidiary or other Affiliate of the Company, (ii) any acquisition of any assets of the Company or any assets of any subsidiary or other Affiliate of
the Company, (iii) any tender offer, exchange offer, merger, business combination, recapitalization, restructuring, liquidation, dissolution or extraordinary transaction involving the Company or any subsidiary or other Affiliate of the Company,
or involving any securities or assets of the Company or any securities or assets of any subsidiary or other Affiliate of the Company, or (iv) any “solicitation” of “proxies” (as those terms are used in the proxy rules of the
Securities and Exchange Commission (“SEC”)) or consents with respect to any securities of the Company; 
 (b)
form, join or participate in a “group” (as defined in the Securities Exchange Act and the rules promulgated thereunder) with respect to the Beneficial Ownership of any securities of the Company; 
 (c) without limiting any rights of the Purchaser pursuant to Section 6 hereof, act, alone or in concert with others, to seek to control
or influence the management, board of directors or policies of the Company; 
 (d) take any action that might require the
Company to make a public announcement regarding any of the types of matters set forth in clause “(a)” of this sentence; 
 (e) agree or offer to take, or encourage or propose (publicly or otherwise) the taking of, any action prohibited by clause “(a)”, “(b)”, “(c)” or “(d)” of this sentence; 
 (f) assist, induce or encourage any other Person to take any action of the type prohibited by clause “(a)”, “(b)”,
“(c)”, “(d)” or “(e)” of this sentence; 
  

 2 

 (g) enter into any discussions, negotiations, arrangement or agreement with any other Person
relating to any of the foregoing; or 
 (h) request or propose that the Company or any of the Company’s Affiliates amend,
waive or consider the amendment or waiver of any provision set forth in this Section 2. 
 3. No Effect on
Directors. Notwithstanding any of the foregoing, the provisions set forth in Section 2 shall in no way limit the ability of any individual who is serving as a director of the Company to take any actions (or to refrain from taking any
actions) in his or her capacity as a director of the Company. 
 4. Voting Agreement. In the event the Purchaser and its
Affiliates Beneficially Own more than 33% of the Company’s outstanding Common Stock, any shares of Common Stock entitled to vote for the election of directors Beneficially Owned by the Purchaser and its Affiliates in excess of 33% of the shares
of Common Stock then outstanding, with respect to the election or removal of directors only, shall be voted either, solely at the Purchaser’s election (a) as recommended by the Board or (b)(i) in an election, in the same proportion with
the votes of shares of Common Stock voted in such election (excluding shares with respect to which the votes were withheld, abstained or otherwise not cast) and not Beneficially Owned by the Purchaser (excluding withheld shares and abstentions) or
(ii) in a removal vote, in the same proportions as all outstanding shares of Common Stock not Beneficially Owned by the Purchaser (including shares with respect to which the votes were withheld, abstained or otherwise not cast), whether at an
annual or special meeting of stockholders of the Company, by written consent or otherwise. The Purchaser shall retain its right to vote (or to withhold its vote) all of its shares on all other matters. 
 5. Lock-Up. The Purchaser and its Affiliates shall not, for a period of six (6) months after the date hereof, directly or
indirectly, offer, sell, exchange, pledge, hypothecate, encumber, transfer, assign or otherwise dispose of, whether voluntarily, involuntarily or by operation of law, other than to any Affiliate, any of its Dynavax Closing Shares, Dynavax Closing
Warrants, Dynavax Closing Warrant Shares, Alternate Closing Securities (as defined in the Amended and Restated Purchase Option Agreement) or Alternate Securities, if applicable, or Dynavax Promissory Note Shares, if applicable; provided,
however, that nothing contained in this Section 5 shall in any way restrict (a) the ability of the Purchaser to transfer any Dynavax Closing Warrants, Dynavax Closing Warrant Shares, Alternate Closing Securities or Alternate
Securities, if applicable, or Dynavax Promissory Note Shares, if applicable, to Symphony Dynamo Investors LLC or Symphony Dynamo Holdings LLC and (b) the ability of Symphony Dynamo Investors LLC and Symphony Dynamo Holdings LLC to transfer any
Dynavax Closing Warrants, Dynavax Closing Warrant Shares, Alternate Closing Securities or Alternate Securities, if applicable, or Dynavax Promissory Note Shares, if applicable, to any of their respective members. 
 6. Board Composition. For so long as the Purchaser and its Affiliates Beneficially Own more than 10% of the Company’s
outstanding Common Stock, then, subject to applicable law and the rules and regulations of the SEC and the NASDAQ Stock Market, the Company will nominate and use its commercially reasonable efforts to cause to be elected and cause to remain as
directors on the Board (x) one (1) individual designated by the Purchaser (as determined in its sole discretion) and (y) one (1) individual who shall be an independent third party designated by Purchaser and reasonably acceptable
to the Company. 
  

 3 

 7. Representations. Each party represents to the other that: (a) this letter
agreement has been duly authorized by all necessary corporate or partnership action, as the case may be; and (b) this letter agreement is a valid and binding agreement of such party, enforceable against it in accordance with its terms.

 8. Specific Enforcement; Legal Effect. The parties hereto agree that any breach of this letter agreement would result
in irreparable injury to the other party and that money damages would not be an adequate remedy for such breach. Accordingly, without prejudice to the rights and remedies otherwise available under applicable law, either party shall be entitled to
specific performance and equitable relief by way of injunction or otherwise if the other party breaches or threatens to breach any of the provisions of this letter agreement. It is further understood and agreed that no failure or delay by either
party in exercising any right, power or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any right, power or privilege
hereunder. If any term, provision, covenant or restriction in this letter agreement is held by a court of competent jurisdiction to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this letter
agreement shall remain in full force and effect and shall in no way be affected, impaired or invalidated, provided that the parties hereto shall negotiate in good faith to attempt to place the parties in the same position as they would have been in
had such provision not been held to be invalid, void or unenforceable. This letter agreement contains the entire agreement between the parties hereto concerning the matters addressed herein. No modification of this letter agreement or waiver of the
terms and conditions hereof shall be binding upon either party hereto, unless approved in writing by each such party; provided, however, that no waiver or amendment shall be effective as against the Company unless such waiver or
amendment is approved in writing by the vote of a majority of the independent members of the Board who are not Affiliated with the Purchaser. This Agreement shall be governed by and construed in accordance with the law of the State of New York.

 9. Termination. This agreement shall continue in full force and effect from the date hereof until such time as the
Purchaser and its Affiliates Beneficially Own less than 10% of the Company’s outstanding Common Stock. 
 10.
Counterparts. This letter agreement may be executed in counterpart (including by facsimile), each of which shall be deemed an original. 
 [Remainder of page left blank intentionally] 
  

 4 

 If you are in agreement with the terms set forth above, please sign this letter agreement in
the space provided below and return an executed copy to the undersigned. 
  

			
	Very truly yours,
	
	SYMPHONY DYNAMO HOLDINGS LLC
		
	By:	 	Symphony Capital Partners, L.P.,
		 	its Manager
		
	By:	 	Symphony Capital GP, L.P.,
		 	its General Partner
		
	By:	 	Symphony GP, LLC,
		 	its General Partner
		
	By:	 	 /s/ Mark Kessel

	Name:	 	Mark Kessel
	Title:	 	Managing Member

 Confirmed and Agreed: 

 

			
	DYNAVAX TECHNOLOGIES CORPORATION
		
	By:	 	 /s/ Michael S. Ostrach

	Name:	 	Michael S. Ostrach
	Title:	 	Vice President

 Signature Page to the
Standstill and Board Member Agreement

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