Document:

nktr20191231ex44

                                                                              Exhibit 4.4                          DESCRIPTION OF THE COMPANY’S                      SECURITIES REGISTERED PURSUANT                       TO SECTION 12 OF THE SECURITIES                            EXCHANGE ACT OF 1934, AS                                     AMENDED                         As of December 31, 2019, Nektar Therapeutics (“Nektar,” the “Company,” “we,” “us,” and “our”) had one class of  securities registered under Section 12 of the Securities Exchange Act of 1934, as amended: our common stock.                               DESCRIPTION OF CAPITAL STOCK       The following description of our capital stock does not purport to be complete and is subject to, and qualified  in its entirety by, our certificate of incorporation, as amended and currently in effect (our “Certificate of  Incorporation”) and our amended and restated bylaws (our “Bylaws”), each of which is incorporated by reference as  an exhibit to our Annual Report on Form 10-K for the year ended December 31, 2019.   Authorized Capital Stock      Our authorized capital stock consists of 300,000,000 shares of common stock, par value $0.0001 per share,  and 10,000,000 shares of preferred stock, par value $0.0001 per share   Common Stock      The holders of common stock are entitled to one vote for each share held of record on all matters submitted to  a vote of the stockholders. Directors are elected by a plurality vote and the holders of common stock are not entitled  to cumulative voting rights with respect to the election of directors. Accordingly, holders of a majority of the voting  shares are able to elect all of the directors.       Subject to preferences that may be applicable to any shares of preferred stock currently outstanding or issued  in the future, holders of common stock are entitled to receive ratably such dividends as may be declared by our  board of directors out of funds legally available therefor. In the event of our liquidation, dissolution or winding up,  holders of our common stock are entitled to share ratably in all assets remaining after payment of liabilities and the  liquidation preference of any then outstanding preferred stock. Holders of common stock have no preemptive rights  and no right to convert their common stock into any other securities. There are no redemption or sinking fund  provisions applicable to the common stock. All outstanding shares of common stock are fully paid and non- assessable.   Listing      Our common stock is listed on The Nasdaq Global Select Market under the symbol “NKTR.”   Transfer Agent and Registrar      Computershare Investor Services, LLC is the transfer agent and registrar for our common stock.   Preferred Stock      Our board of directors has the authority, without further vote or action by the stockholders, to issue up to  10,000,000 shares of preferred stock in one or more series and to fix, by filing a certificate of designation pursuant  to the Delaware General Corporation Law, the rights, preferences, privileges and restrictions thereof, including  dividend rights, conversion rights, voting rights, terms of redemption, liquidation preferences, sinking fund terms 

 

and the number of shares constituting any series or the designation of such series. The issuance of preferred stock  could adversely affect the voting power or other rights of holders of common stock and the likelihood that such  holders will receive dividend payments and payments upon liquidation and could have the effect of delaying,  deferring or preventing a change in control.       The Delaware General Corporation Law (“DGCL”) provides that the holders of preferred stock will have the  right to vote separately as a class on a proposed amendment to our certificate of incorporation involving certain  fundamental changes in the rights of holders of that preferred stock. This right is in addition to any voting rights that  may be provided in the applicable certificate of designation. The issuance of preferred stock could adversely affect  the voting power, conversion or other rights of holders of common stock and reduce the likelihood that holders of  common stock will receive dividend payments and payments upon liquidation. Preferred stock could be issued  quickly with terms calculated to delay or prevent a change in control of our company or make removal of  management more difficult. Additionally, the issuance of preferred stock could have the effect of decreasing the  market price of our common stock.   Provisions of our Certificate of Incorporation and Bylaws and Delaware Anti-Takeover Law       Charter Documents      Our certificate of incorporation provides for our board of directors to be divided into three classes, with  staggered three-year terms. As a result, only one class of directors will be elected at each annual meeting of  stockholders, with the other classes continuing for the remainder of their respective three-year terms. Stockholders  have no cumulative voting rights. Subject to the rights of the holders of any outstanding series of preferred stock,  directors may not be removed without cause. Any vacancies on the board of directors shall be filled by the  affirmative vote of a majority of the directors then in office, unless the board of directors otherwise determines that  the vacancy shall be filled by stockholders entitled to vote for directors.      Our certificate of incorporation also requires that any action required or permitted to be taken by our  stockholders must be effected at a duly called annual or special meeting of the stockholders and may not be effected  by a consent in writing. The stockholders may amend, or adopt new, bylaws and amend certain provisions of our  certificate of incorporation, including the provisions related to stockholder actions and the calling of special  meetings of stockholders, only by the affirmative vote of the holders of 66 2/3 percent of the voting power of all of  the outstanding shares of the voting stock of the Company entitled to vote at an election of directors. These  provisions may have the effect of delaying, deferring or preventing a change in control.      The classification of our board of directors and lack of cumulative voting will make it more difficult for our  existing stockholders to replace our board of directors as well as for another party to obtain control of us by  replacing our board of directors. Since our board of directors has the power to retain and discharge our officers,  these provisions could also make it more difficult for existing stockholders or another party to effect a change in  management. These and other provisions may have the effect of deterring hostile takeovers or delaying changes in  control or management. These provisions are intended to enhance the likelihood of continued stability in the  composition of our board of directors and in the policies of our board of directors and to discourage certain types of  transactions that may involve an actual or threatened change in control. These provisions are designed to reduce our  vulnerability to an unsolicited acquisition proposal. The provisions also are intended to discourage certain tactics  that may be used in proxy fights. However, such provisions could have the effect of discouraging others from  making tender offers for our shares and, as a consequence, such provisions also may inhibit increases in the market  price of our shares that could result from actual or rumored takeover attempts. Such provisions also may have the  effect of preventing changes in our management.      Our bylaws establish advance notice procedures with regard to stockholder proposals relating to the  nomination of candidates for election as directors or new business to be brought before meetings of our  stockholders. These procedures provide that notice of stockholder proposals must be timely given in writing to our  secretary prior to the meeting at which the action is to be taken. Generally, to be timely, notice must be received at  our principal executive offices not less than the close of business on the sixtieth (60th) day nor earlier than the close  of business on the ninetieth (90th) day prior to the first anniversary of the annual meeting for the preceding year.  The notice must contain certain information specified in the bylaws. These provisions may have the effect of  precluding the conduct of certain business at a meeting if the proper procedures are not followed. These provisions 

 

may also discourage or deter a potential acquirer from conducting a solicitation of proxies to elect the acquirer’s  own slate of directors or otherwise attempting to obtain control of our company.        Delaware Anti-Takeover Law      We are subject to the provisions of Section 203 of the DGCL (“Section 203”). In general, Section 203  prohibits a publicly held Delaware corporation from engaging in a “business combination” with an “interested  stockholder” for a three-year period following the time that this stockholder becomes an interested stockholder,  unless the business combination is approved in a prescribed manner. A “business combination” includes, among  other things, a merger, asset or stock sale or other transaction resulting in a financial benefit to the interested  stockholder. An “interested stockholder” is a person who, together with such person’s affiliates and associates,  owns, or did own within three years prior to such determination, 15% or more of the corporation’s voting stock.  Under Section 203, a business combination between a corporation and an interested stockholder is prohibited unless  it satisfies one of the following conditions:       before the stockholder became interested, the board of directors of the corporation approved either the        business combination or the transaction that resulted in the stockholder becoming an interested stockholder;       upon consummation of the transaction that resulted in the stockholder becoming an interested stockholder,        the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time        the transaction commenced, excluding, for purposes of determining the voting stock outstanding, shares        owned by persons who are directors and also officers, and employee stock plans, in some instances; or       at or after the time the stockholder became interested, the business combination was approved by the board        of directors of the corporation and authorized at an annual or special meeting of the stockholders by the        affirmative vote of at least two-thirds of the outstanding voting stock that is not owned by the interested        stockholder.nktr20191231ex1017

                                                                    Exhibit 10.17                               NEKTAR        TRANSITION, SEPARATION, AND GENERAL RELEASE AGREEMENT                                      RECITALS          This Transition, Separation, and General Release Agreement ("Agreement") is entered into   as of November 13, 2019 (the "Effective Date") and is made by and between Stephen Doberstein,   Ph.D. ("Doberstein") and Nektar Therapeutics ("Company").          WHEREAS,  Doberstein  and  Company  entered  into  an  Employee  Agreement,  dated   December 10, 2009, regarding various nondisclosure, non-solicitation and invention assignment   obligations (the "Employee Confidentiality Agreement");          WHEREAS, on September 25, 2019, Doberstein decided to step down from his position as   the  Company's  Senior  Vice  President,  Research  &  Development  and  Chief  Research  &   Development Officer;          WHEREAS, the Parties wish to provide for Doberstein's orderly transition of his duties as   the Company's Senior Vice President, Research & Development and Chief Research &   Development Officer, and, therefore, wish to continue Doberstein's status as a full-time employee   as the Company's Chief Scientific Fellow through the "Transition Services Term" (as defined   below) and then the Parties desire that Doberstein be available for, and, as needed, perform   requested consulting services through the "Consulting Services Term" (as defined below);          NOW,  THEREFORE,  in  consideration  of  the  mutual  promises  and  respective   agreements, representations, warranties, covenants, conditions contained in this Agreement, the   parties hereby agree as follows:                1.   Transition Services.                            (a)  Transition Services and Term. As the Company's Chief               Scientific Fellow, Doberstein will remain a full-time employee working to assist               the Company in its preparation of a potential NKTR-181 advisory committee               meeting, to participate in the NKTR-181 advisory committee meeting (in the event               one is held), to assist in the orderly transition of his duties to other employees, and               to perform such other tasks as may be reasonably requested by the Company               (collectively, the "Transition Services"). Subject only to termination for gross               misconduct, the term of these Transition Services (the "Transition Services Term")               shall continue from September 25, 2019, through to the earliest of: (i) two weeks               following the conclusion of the NKTR-181 advisory committee meeting; (ii) two               weeks following the Company receiving official notice that no NKTR-181               advisory committee meeting will be held; (iii) two weeks following NKTR-181               receiving marketing authorization from the Food and Drug Administration, and               (iv) July 31, 2020. Notwithstanding the foregoing, Doberstein will remain (subject    Confidential                        1 

 

             only to termination for gross misconduct) a full-time employee through at least               March 6, 2020.                            (b)  Consideration during the Transition Services Term.               During the Transition   Services Term (subject to termination for gross misconduct), the Company will continue to pay   Doberstein at the same annual base compensation Doberstein earned immediately prior to his   assumption as Chief Scientific Fellow in accordance with the Company's normal payroll practices   and be subject to the usual and required withholdings. Accordingly, Doberstein shall be entitled   to the same rights, benefits, equity, salary, and vesting of equity awards, under any employee   benefit or compensation plan or program sponsored by Company or any of its parent, subsidiary   or affiliated entities as (as such benefit, plan or program may be amended from time to time) that   Doberstein was entitled to immediately prior to his assumption as Chief Scientific Fellow.   Doberstein will not, however, be entitled to any further grants of performance equity awards   (e.g., grants of stock options or restricted stock units) pursuant to the 2019 performance review   process (and any subsequent year's performance review process). In the event NKTR181 receives   a positive vote at a NKTR-181 Food and Drug Administration advisory committee meeting, then   (subject to termination for gross misconduct) Doberstein shall be entitled to a cash bonus award   in the amount of one hundred fifty-four thousand, three hundred fifty dollars (which amount   corresponds to 50% of Doberstein's target annual bonus) less all applicable withholdings and   standard deductions.                            (c)  Bonus for Transition Services. On the date that the               Transition Services Term concludes pursuant to Section 1 (a) (the "Separation               Date"), unless Doberstein has been terminated for gross misconduct, Doberstein               will be entitled to receive a bonus (the "Transition Services Bonus") in the amount               of one hundred fifty thousand dollars ($150,000.00), not grossed up and less all               applicable withholdings and standard deductions, which Transition Services               Bonus is payable to Doberstein within fifteen (15) business days. This bonus is               separate from and in addition to any cash bonus awarded pursuant to Section 1 (b).                            (d)  RSU Vesting During the Transition Services Term.               Doberstein is the recipient of the following RSU grants: RSU Grant No. 9812522               (granted December 13, 2016); RSU Grant No. 9812523 (granted December 13,               2016); RSU Grant No. 9813250 (granted December 15, 2017); RSU Grant No.               9813251 (granted December 15, 2017); and RSU Grant No. 9813610 (granted               December 14, 2019) (the combination of these five grants hereinafter referred to               as the "RSU Grants"). Doberstein and Company hereby agree to a one-time               modification of the vesting schedule of the RSU Grants as follows: the RSU               vesting dates of November 15, 2019, and February 15, 2020, are both modified to               March 6, 2020. For clarity, other than the preceding, one-time modification, all               other terms and vesting of the RSU Grants remain unchanged.                2.   Separation from Company and Severance Benefits.                           (a)  Separation. Effective on the date that the Transition Services               Term concludes pursuant to Section 1 (a) (the "Separation Date"), Doberstein's   Confidential                        2 

 

             employment as Chief Scientific Fellow of the Company, as well as Doberstein's               employment in any other capacity for the Company or any of its affiliates, shall               terminate. In addition, with respect to stock options ("the Options") and restricted               stock units ("the RSUs") the Company previously granted to Doberstein,               Doberstein acknowledges and agrees that any such Options and any such RSUs               not vested by the Separation Date are forfeited in accordance with the terms of the               stock option and restricted stock unit agreements and related stock option and               related restricted stock unit notices and the applicable equity incentive plan of the               Company. Doberstein acknowledges and agrees that he has no further right or               benefits under any agreement to receive or acquire any security or derivative               security in or with respect to the Company or any of its affiliates or subsidiaries.               Following the Separation Date, Doberstein shall not be authorized to transact any               business on behalf of the Company or any its affiliates or subsidiaries unless               authorized to do so in writing by an officer of the Company.    (b)  Severance Benefits. Provided that Doberstein complies with all of the terms of this   Agreement and duly signs and delivers to the Company a supplemental release (the   "Supplemental Release" attached hereto as Exhibit A), the Company shall provide Doberstein   with the following severance benefits (the "Severance Benefits"): (a) the Company will make a   severance payment to Doberstein within fifteen (15) business days of the Separation Date in the   amount of nine hundred twenty-six thousand, one hundred dollars ($926, 100.00) (the "Severance   Payment") [which amount corresponds to the sum of one year of Doberstein's annual base salary   of six hundred-seventeen thousand, four hundred dollars ($617,400.00), plus one hundred percent   (100%) of Doberstein's target incentive bonus award of fifty percent (50%) of Doberstein's   annual base salary, i.e., three hundred eight thousand, seven hundred dollars ($308,700.00)], less   all applicable withholdings and standard deductions; (b) Doberstein's Options, to the extent   outstanding and vested as of the Separation Date, will remain exercisable for a period ending   three (3) months following the conclusion of the Consulting Services Term (defined below); and   (c) provided that Doberstein timely exercises his right to continue his health insurance coverage   under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"), the Company   will pay the monthly health insurance coverage fees for Doberstein and his eligible dependents   for a period commencing on the Separation Date and ending on the later of (i) the twelve month   anniversary of the Separation Date, and (ii) March 31, 2021, subject to the proviso that in all   cases the Company's obligation to pay the monthly health insurance coverage fees shall end on   the date Doberstein becomes eligible to receive health insurance coverage from any subsequent   employer. Doberstein shall notify the Company promptly upon accepting employment with any   other person or entity, but no later than three calendar days prior to commencing such   employment, and at the same time, Doberstein shall notify the Company whether he is eligible to   receive health coverage in connection with such employment.   Doberstein acknowledges that at least certain of the Severance Benefits represent payments that he   would  not  otherwise  be  entitled  to  receive,  now  or  in  the  future,  without  entering  into  this   Agreement, and constitutes valuable consideration for the promises and undertakings set forth in   this Agreement.                3.   Payment of Salary and Expenses. On Doberstein's Separation Date, the         Company will pay Doberstein a total of (i) all accrued and unpaid salary, and (ii) an         amount equaling his effective hourly rate multiplied by the number of hours of accrued,         but unused, paid time off [collectively, (i) and (ii), the "Accrued Obligations"]. In the   Confidential                        3 

 

       event that Doberstein has a negative paid time off balance, Doberstein agrees that such         amount will be deducted from the Company's payment to him of his Accrued Obligations.         Doberstein agrees that, by the Separation Date, he will submit his final documented         expense reimbursement statement reflecting all business expenses he incurred through the         Separation Date, if any, for which he seeks reimbursement. The Company will reimburse         Doberstein for these expenses pursuant to its regular business practice.                4.   Consulting Services.   (a)  Consulting Services and Term. Immediately effective upon the Separation Date and   through to March 31, 2021 (the "Consulting Services Term"), and subject only to termination for   gross misconduct, Doberstein will serve as an independent contractor to the Company to perform   such other tasks as may be reasonably requested by the Company's Chief Executive Officer or his   designee (the "Consulting Services"). Unless requested to do so by Company's Chief Executive   Officer or his designee, Doberstein will not enter or visit Company' s premises and Doberstein is   expected to provide Consulting Services from a location remote from any of Company's   premises. Generally, during the Consulting Services Term, Doberstein is expected to be available   upon reasonable notice for consultation by phone and email during regular business hours.   During the Consulting Services Term, Doberstein will have no authority to represent the   Company to third parties or to bind the Company to any contractual obligations, whether written,   oral or implied, or represent that Doberstein has such authority, unless authorized to do so in   writing by an officer of the Company. During the Consulting Services Term, Doberstein shall   continue to abide by all of the Company's policies and procedures in effect from time to time and   perform duties requested of Doberstein in good faith to the best of his abilities.                           (b)  Consideration and Fee Reimbursement during the               Consulting Services Term. During the Consulting Services Term, Company will               compensate Doberstein at the rate of two thousand dollars ($2,000.00) per month.               Doberstein will bill his first 4 hours worked in any given month against the               Retainer at the rate of $500 per hour. Any time worked in any given month more               than 4 hours will be billed at the rate of $500 per hour. Any residual amount left               over from the $2,000 Retainer in any given month as a result of Doberstein               working fewer than 4 hours is non-reimbursable. In no event shall Doberstein be               required to work more than 4 hours a month during the Consulting Services Term               absent mutual agreement between the Company and Doberstein. Doberstein will               also be reimbursed for reasonable out-of-pocket travel costs and other expenses               that are approved in advance by email or writing by Company's Chief Operating               Officer or his designee. All required Company travel during the Consulting               Services Term shall be billed to the Company at $250 per hour. All required air               travel shall be, to the extent available, business class.                            (c)  Invoices. During the Consulting Services Term and after a               complete calendar month of Consulting Services, Doberstein shall provide to the               Company on or before the seventh (7th) calendar day of the immediately               following month an invoice for two thousand dollars   ($2,000.00), plus $500 per hour for any hours worked over and above 4 hours. In the event the   Consulting Services Term commences on a day other than the first of a calendar month, then the   first and last invoices provided to the Company in connection with the Consulting Services shall   Confidential                        4 

 

 be pro-rated to correspond to the number of days in the month covered by the Consulting Services   Term. In addition, Doberstein shall provide to the Company within seven (7) days at the end of   each  calendar  month  during  the  Consulting  Services  Term  a  true and  correct  invoice  for  any   approved  reasonable  out-of-pocket  travel  costs  and  other  expenses  incurred  during  the  prior   month. The Company shall pay each invoice within fifteen (15) business days of receiving such   invoice from Doberstein. Doberstein shall submit each invoice and direct all communications to   the  Company's  Vice  President,  Human  Resources  (or  such  other  person  as  delegated  by  Vice   President, Human Resources).                            (d)  Independent Contractor Status. It is the express intention of               Doberstein and the Company that, during the Consulting Services Term,               Doberstein shall be an independent contractor, and shall be classified by Company               as such for all purposes, and shall not be an officer, employee, agent, joint               venturer, or partner of Company. Accordingly, Doberstein shall not be entitled to               earn or accrue during the Consulting Services Term and thereafter any rights,               benefits, equity, or salary, or vest in any equity awards, under any employee               benefit or compensation plan or program sponsored by Company or any of its               parent, subsidiary or affiliated entities at any time, including, but not limited to               health, dental, vision, 401 (k), Change of Control Severance Benefit Plan, or other               employee welfare benefits, and Doberstein shall be solely responsible for his               insurance, taxes, fees, licenses, costs, equipment, expenses, and providing himself               with office space, if necessary, to perform his duties as a consultant. Nothing in               this Agreement shall be interpreted or construed as creating or establishing an               employment relationship between Doberstein and Company at any time after the               Separation Date. Doberstein will receive a form 1099 for services performed for               the Company during the Consulting Services Term.    (e)  Equity Awards. Pursuant to the applicable Equity Incentive Plan ("Equity Plans") and the   equity award notices and agreements issued to Doberstein thereunder   (collectively, the "Award Agreements"), Doberstein's right to exercise any vested stock options   shall end on the earlier of (i) three months following the conclusion of the Consulting Services   Term, or (ii) the expiration of the term of Doberstein's stock options. Doberstein's stock options   and restricted stock units continue to remain subject to all other terms and conditions of the   Award Agreements. Other than the modification to the vesting schedule for the RSU Grants set   forth in Section 1 (d), in the event of any conflict between the terms of the Equity Plans and   Award Agreements and this Agreement, the terms of the Equity Plans and Award Agreements   will control. For purposes of Doberstein's right to exercise any vested stock options, the   Transition Services Term and the Consulting Services Term shall together with Mr. Doberstein's   employment to date constitute Continuous Service, as that term is defined in the Equity Plans and   Award Agreements, such that pursuant to the Equity Plans and Award Agreements,   Doberstein's right to exercise any vested stock options shall end on the earlier of (i) three months   following the conclusion of the Consulting Services Term, or (ii) the expiration of the term of   Doberstein's stock options; provided that, for the avoidance of doubt, the vesting of the RSU   Grants identified in Section 4(d) shall be modified pursuant to Section 4(d).          5.    Employee Acknowledgements.    Confidential                        5 

 

                         (a)  Acknowledgements   and  Representations.  Doberstein               acknowledges: (a) as of the Effective Data, receipt of all compensation and benefits               due  to  him  through  the  Effective  Date  as  a  result  of  services  performed  for  the               Company; (b) he has reported to the Company any and all work-related injuries               incurred  during  employment;  (c) the  Company  properly  provided  any  leave  of               absence because of his or a family member's health condition, and he has not been               subjected  to  any  improper  treatment,  conduct  or  actions  due  to a  request  for  or               taking such leave; (d) he has provided the Company with written notice of any and               all concerns regarding suspected ethical and compliance issues or violations on the               part of the Company or any Released Party; (e) he has not filed any complaints,               claims, or actions against the Company or any Released Party; and (f) he has not               raised a claim of sexual harassment or abuse with the Company. Doberstein further               represents that he will not bring any action in the future in which he seeks to recover               any damages from the Company relating to or arising from his employment or his               separation from the Company, other than an action to enforce his rights under this               Agreement.                            (b)  Confidential  Information.  Doberstein  shall  continue  to               maintain  the  confidentiality  of  all  confidential  and  proprietary  information  of               Company  and  shall  continue  to  comply  with  the  continuing  obligations  of  the               Employee  Confidentiality  Agreement  through  the  Transition  Services  Term,               Consulting  Services  Term,  and,  as  applicable,  thereafter,  including,  without               limitation, Section 4 of the Employee Confidentiality Agreement, which sets forth               Doberstein's  confidentiality  obligations  with  respect  to  Company's  Confidential               Information (as defined in the Employee Confidentiality Agreement).          6.    Release Provisions.                            (a)  General Release. In exchange for the consideration described               in Sections 1 (b), 1 (c) and 2(b), Doberstein, personally and for Doberstein's heirs,               executors, administrators, successors and assigns, hereby generally and completely               release the Company and its subsidiaries, successors, predecessors and affiliates,               and  its  and  their  respective  partners,  members,  directors,  officers,  employees,               stockholders, shareholders, agents, attorneys, predecessors, insurers, affiliates and               assigns  (all  of  whom  are  referred  to  throughout  this  Agreement as  "Released               Parties"),  from  any  and  all  claims,  demands,  actions,  causes  of  action,  suits,               damages, losses, expenses, liabilities, and obligations, both known and unknown,               individually or as part of a group action, that arise out of or are in any way related               to  events,  acts,  conduct,  or  omissions  occurring  at  any  time  through  the  date               Doberstein signs this Agreement ("Claims"). This general release includes, but is               not limited to, to all matters in law, equity, contract, tort, or pursuant to statute,               including  but  not  limited  to  any  and  all  claims  arising  under  the  California               Constitution, California statutory and common law; Title VII of the Civil Rights               Act of 1964, the Americans with Disabilities Act, the California Fair Employment               and Housing Act, the National Labor Relations Act; or any other federal, state or               local statute, rule, ordinance, or regulation.    Confidential                        6 

 

       Doberstein further agrees and acknowledges that the release provided for in this Section 6   shall apply to all unknown and unanticipated injuries and/or damages. Doberstein acknowledges   and understands that Section 1542 of the Civil Code of the State of California provides as   follows:          A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE         CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO         EXIST IN HIS/HER FAVOR AT THE TIME OF EXECUTING THE RELEASE         AND THAT, IF KNOWN BY HIM/HER, WOULD HAVE MATERIALLY         AFFECTED HIS/HER SETTLEMENT WITH THE DEBTOR OR RELEASED         PARTY.    Doberstein intends these consequences even as to claims for damages that may exist as of the   date this Agreement is executed that Doberstein does not know exist and which if known, would   materially affect Doberstein's decision to execute this Agreement, regardless of whether the lack   of knowledge is the result of ignorance, oversight, error, negligence or any other cause. Being   aware of Section 1542 of the California Civil Code, Doberstein, by signing this Agreement,   expressly waives the provisions of Section 1542 of the California Civil Code and any other   similar provisions of law that may be applicable. Notwithstanding the foregoing, this release of   claims does not waive claims for the breach of this Agreement.                (b) Exclusions from General Release. The above release does not waive claims:   (i) for unemployment or workers' compensation, (ii) for vested rights under ERISA covered   employee benefit plans as applicable on the date Doberstein signs this Agreement, (iii) that   may arise after Doberstein signs this Agreement, (iv) for indemnification under   California Labor Code section 2802, or (v) which cannot be released by private agreement.           Acknowledgement of Waiver of ADEA Claims. Doberstein acknowledges waiving and   releasing any rights under the Age Discrimination in Employment Act of 1967 ("ADEA") and   that this waiver and release is knowing and voluntary. Doberstein and the Company agree that   this waiver and release does not apply to any rights or claims that may arise under the ADEA   after the Effective Date of this Agreement. Doberstein acknowledges that the consideration given   for this waiver and Agreement is in addition to anything of value to which Doberstein was   already entitled. Doberstein further acknowledges notice by this writing that:                (a)  Doberstein should consult with an attorney prior to executing this         Agreement;                (b)  Doberstein has up to twenty-one (21) calendar days within which to         consider this Agreement;                (c)  Doberstein has seven (7) calendar days following Doberstein's execution of         this Agreement to revoke the Agreement;                (d)  the ADEA waiver in this Agreement shall not be effective until the seven         (7) day revocation period has expired; and    Confidential                        7 

 

               nothing in this Agreement prevents or precludes Doberstein from challenging or         seeking a determination in good faith of the validity of this waiver under the ADEA, nor         does it impose any condition precedent, penalties or costs for doing so, unless specifically         authorized by federal law; and                (f)   in order to revoke this Agreement, Doberstein must deliver to Mark A         Wilson's attention at the following address a written revocation before 12:00 a.m.         (midnight) p.s.t. on the seventh calendar day following the date Doberstein signs the         Agreement:                Mark A. Wilson, Esq.               Nektar Therapeutics               455 Mission Bay Boulevard, South               Suite 100               San Francisco, CA 94158               Email: mwilson@nektar.com          8.   Confidentiality of this Agreement. The provisions of this Agreement shall be held   in strictest confidence by Doberstein and shall not be publicized or disclosed in any manner   whatsoever by Doberstein at any time to any person other than Doberstein's lawyer or accountant,   a governmental agency, or Doberstein's immediate family without the prior written consent of an   officer of the Company, except as necessary in any legal proceedings directly related to the   provisions and terms of this Agreement, to prepare and file income tax forms, or as required by   subpoena or court order, in each case, after reasonable notice to the Company. Nothing in this   Agreement shall prevent Doberstein from providing information to the NLRB upon request, nor   shall this provision prevent Doberstein from exercising his rights under Section 7 of the National   Labor Relations Act. Doberstein and the Company specifically disclaim any intent to enter into   this Agreement in exchange for a promise not to reveal to any government entity, including any   court or agency, conduct that could be construed as a violation of federal law.          9.   Proprietary Information. Doberstein acknowledges access to and receipt of   confidential business and proprietary information regarding the Company and its clients while   working. This information may be in a variety of paper and electronic forms. Doberstein agrees   not to make any such information known to any member of the public and to comply with all   applicable ethical responsibilities related to client confidences and secrets.          10.  Cooperation. Following the Effective Date, Doberstein agrees to reasonably   cooperate with the Company in connection with: (a) any internal or governmental investigation or   administrative, regulatory , arbitral or judicial proceeding involving the Company with respect to   matters relating to Doberstein's service to the Company or any inquiries related to facts or   circumstances that Doberstein knows as a result of service to the Company (collectively,   "Litigation"); and (b) any audit of the financial statements of the Company with respect to the   period of time when Doberstein was employed by the Company ("Audit"). Doberstein   acknowledges that such cooperation may include, but shall not be limited to, Doberstein making   himself reasonably available to the Company (or its respective attorneys or auditors) upon   reasonable notice for: (i) interviews, factual investigations, and providing declarations or   Confidential                        8 

 

 affidavits that provide truthful information in connection with any Litigation or Audit; (ii)   appearing at the request of the Company to give testimony without requiring service of a   subpoena or other legal process; (iii) volunteering to the Company pertinent information related   to any Litigation or Audit; (iv) providing information and legal representations to the auditors of   the Company, in a reasonable form and within a reasonable time frame, with respect to the   Company's financial statements for the period in which Doberstein was employed by the   Company; and (v) turning over to the Company any documents relevant to any Litigation or   Audit that are or may come into Doberstein's possession. In addition, Doberstein agrees that he   will not knowingly encourage, counsel, or assist any attorneys or their clients in the presentation   or prosecution of any disputes, differences, grievances, claims, charges, or complaints by any   third party against Company or any of its affiliates, unless under a subpoena or other court order   to do so. Doberstein agrees both to immediately notify Company upon receipt of any such   subpoena or court order, and to furnish, within three (3) business days of its receipt, a copy of   such subpoena or other court order. If approached by anyone for counsel or assistance in the   presentation or prosecution of any disputes, differences, grievances, claims, charges, or   complaints against Company or any of its affiliates, Doberstein shall state no more than that he   cannot provide counsel or assistance. Notwithstanding anything to the contrary, nothing in this   Agreement prevents Doberstein from providing truthful information to any governmental agency   in connection with any governmental, regulatory or administrative agency proceeding. During the   Consulting Services Term, Doberstein shall receive: (i) an hourly fee for the cooperation   described in this Section 10 at a rate of $500 per hour; and (ii) the reimbursement of reasonable   travel and other expenses incurred by Doberstein in the course of providing such cooperation,   provided, however, that all such travel and other expenses shall be reimbursed only if approved   by Company in advance. Following the end of the Consulting Services Term, Doberstein shall   receive: (i) an hourly fee for the cooperation described in this Section 10 at a rate of $250 per   hour; and (ii) the reimbursement of reasonable travel and other expenses incurred by Doberstein   in the course of providing such cooperation, provided, however, that all such travel and other   expenses shall be reimbursed only if approved by Company in advance. All required air travel   incurred by Doberstein in the course of providing such cooperation shall be, to the extent   available, business class.          11.  Voluntary Waiver and Release, Advice of Counsel, Consideration and Other   Information. Doberstein acknowledges and agrees that:          (a)  his waiver and release of rights under this Agreement are voluntary, and that he is   acting of his own free will in executing this Agreement;          (b)  through this Agreement, he is releasing the Released Parties from any and all   claims that he may have against any of the Released Parties;          (c)  his waiver and release, as set forth in this Agreement, do not apply to any rights or   claims that may arise after the date he signs this Agreement; and          (d)  the Company hereby advises Doberstein that, before signing this Agreement, he   should consult with an attorney, although he may choose voluntarily not to do so.    Confidential                        9 

 

       12.  Tax Indemnification. Doberstein acknowledges and agrees that the Company has   made no representations or Tax Indemnification warranties regarding the tax consequences of any   amounts paid by the Company to Doberstein pursuant to this Agreement. Doberstein agrees to   pay all federal or state taxes owed by him, if any, which are required by law to be paid with   respect to the payments herein. Doberstein further agrees to indemnify and hold the Company   harmless from any taxes owed by him, including interests or penalties owed by   Doberstein, on account of this Agreement. Doberstein further agrees to reimburse Company for   any attorney's fees and costs incurred by Company as a result of having to obtain indemnification   under this Agreement. Doberstein will not be responsible for the employer's share of payroll taxes,   if any, and does not indemnify Company for any failure on its part to pay the employer's share of   payroll taxes, if any, on amounts paid by the Company to Doberstein pursuant to this Agreement.          13.  Return of Company Property. Doberstein agrees that, on or before the beginning of   the Consulting Services Term and to the extent not already completed, Doberstein will return to   the Company all Company documents (and all copies thereof whether in physical or electronic   format) and other Company property in Doberstein's possession or control, including, but not   limited to: Company files, email, electronic messages, notes, memoranda, correspondence,   agreements, draft documents, notebooks, logs, drawings, records, plans, proposals, reports,   forecasts, financial information, sales and marketing information, research and development   information, personnel information, specifications, computer-recorded information, tangible   property and equipment, smart phones, cell phones, pagers, credit cards, entry cards,   identification badges and keys; and any materials of any kind that contain or embody any   proprietary or confidential information of the Company (and all reproductions thereof in whole or   in part). If Doberstein has used any personal computer, server, or electronic system to receive,   store, review, prepare or transmit any Company confidential or proprietary data, materials or   information, Doberstein agrees to provide the Company with a computer-useable copy of such   information and then permanently delete and expunge such Company confidential or proprietary   information from those systems. Doberstein agrees to provide the Company access to his system   as requested to verify that the necessary copying and/or deletion is completed. Doberstein agrees   not to retain any paper or electronic copies of any Company documents or data (including but not   limited to email and electronic messages) other than this Release and other documents evidencing   his employment relationship with the Company.          14.  No Interference with Rights. Nothing in this Release, including but not limited to   the release of claims, the non-disclosure of confidential and proprietary information, the   acknowledgements and promise not to sue, or the confidentiality agreements, (a) limits or affects   Doberstein's right to challenge the validity of this release (b) prevents Doberstein from filing a   charge or complaint with or from participating in an investigation or proceeding conducted by the   EEOC, the National Labor Relations Board, the Securities and Exchange Commission, or any   other federal, state or local agency charged with the enforcement of any laws, including providing   documents or other information, or (c) prevents Doberstein from exercising his rights under   Section 7 of the NLRA to engage in protected, concerted activity with other employees, although   by signing this Agreement, Doberstein acknowledges waiving his right to recover any individual   relief (including backpay, frontpay, reinstatement or other legal or equitable relief) in any charge,   complaint, or lawsuit or other proceeding brought by Doberstein or on Doberstein' s behalf by   any third party, except for any right Doberstein may have to receive a payment from a    Confidential                        10 

 

 government agency (and not the Company) for information provided to the government agency   or where otherwise prohibited.          15.  Right to Testify. Nothing in this Agreement shall be construed as a waiver of   Doberstein's right to testify in an administrative, legislative, or judicial proceeding concerning   alleged criminal conduct or alleged sexual harassment on the part of the Company, or on the part   of the agents or employees of the Company, when Doberstein has been required or requested to   attend such a proceeding pursuant to a court order, subpoena, or written request from an   administrative agency or the legislature.          16.  Entire Agreement; Modification. This Agreement is governed by California law.   This Agreement, the Award Agreements and Doberstein's Employee Confidentiality Agreement   constitute the complete and only agreements between Doberstein and the Company on these   subjects. In entering this Agreement, Doberstein is not relying on any promise or representation,   written or oral, other than those expressly contained in this Agreement. Any prior agreements   between or directly involving Doberstein and the Company are superseded by this Agreement,   except for the Employee Confidentiality Agreement with the Company, and the Award   Agreements. This Agreement may not be modified except in a writing signed by both   Doberstein and a Senior Vice President of the Company. This Agreement shall bind the heirs,   personal representatives, successors and assigns of both Doberstein and the Company, and inure   to the benefit of both Doberstein and the Released Parties, their heirs, successors and assigns.   Any determination that a provision of this Agreement is invalid or unenforceable, in whole or in   part, will not affect any other provision of this Agreement, and the provision in question shall be   modified by the court so as to be rendered enforceable in accordance with the intent of the parties   to the extent possible.          17.  General. The headings in this Agreement are provided for reference only and shall   not affect the substance of this Agreement. This Agreement may be signed in counterparts.          18.  Costs. The parties shall each bear their own attorneys' fees and other fees incurred   in connection with negotiating this Agreement.          19.  Arbitration. The parties agree that any dispute regarding any aspect of this   Agreement, including the confidentiality provisions, shall be submitted exclusively to final and   binding arbitration before a mutually agreed upon arbitrator in accordance with the Federal   Arbitration Act ("FAA"), 9 U.S.C. §1, et seq. In the event the FAA does not apply for any reason,   then the arbitration will proceed pursuant to the California Arbitration Act, California Code of   Civil Procedure 1280, et seq. The arbitrator shall be empowered to award any appropriate relief,   including remedies at law, in equity or injunctive relief. Arbitration proceedings shall be held in   San Francisco, California, or at any other location mutually agreed upon by the parties, and will   be governed by JAMS' (Judicial Arbitration & Mediation Services) Employment Arbitration   Rules and Procedures. The parties agree that this arbitration shall be the exclusive means of   resolving any dispute under this Agreement and that no other action will be brought by them in   any court or other forum. If the parties cannot agree on an arbitrator, then an arbitrator will be   selected using the alternate striking method from a list of five (5) neutral arbitrators provided by   JAMS. Employee will have the option of making the first strike. Each party will pay the fees for   their own counsel, subject to any remedies to which that party may later be entitled under   Confidential                        11 

 

 applicable law. However, in all cases where required by applicable law, the Company will pay   the arbitrator's fees and the arbitration costs.          20.  Voluntary Execution of Agreement. This Agreement is executed voluntarily and   without any duress or undue influence on the part or behalf of the parties hereto, with the full   intent of releasing all claims. The parties acknowledge that: (a) they have read this Agreement;   (b) they understand the terms and consequences of this Agreement and of the releases it contains;   and (c) they are fully aware of the legal and binding effect of this Agreement.          21.  Counterparts. This Agreement may be executed in counterparts, and each   counterpart shall have the same force and effect as an original and shall constitute an effective,   binding agreement on the part of each of the undersigned.                          [Remainder of Page Intentionally Left Blank]     Confidential                        12 

 

 In exchange for the promises contained in this Agreement, the Company promises to provide the   benefits set forth in this Agreement.    NEKTAR THERAPEUTICS  By: /s/ Dorian Hirth                                Dated:  11/13/19         DORIAN HIRTH         SVP, HUMAN RESOURCES & FACILITIES OPERATIONS    You have read and understood this Agreement, sign this Agreement knowing you could be   waiving valuable rights, and acknowledge that this Agreement is final and binding.    By:  /s/ Stephen Doberstein, Ph.D.        Stephen Doberstein, Ph.D.                                                                    Dated:  4/13/19   Confidential                        13 

 

                                   EXHIBIT A                                  Supplemental Release                                      RECITALS          This supplemental release ("Supplemental Release") is entered into as of                   2020 (the "Supplemental Release Effective Date"), is made by and between   Stephen Doberstein, Ph.D. ("Doberstein") and Nektar Therapeutics ("Company"), and is   supplemental to that certain Transition, Separation, and General Release Agreement entered into         on [DATE] by Doberstein and Company.          WHEREAS, Doberstein and Company entered into a Transition, Separation, and General   Release  Agreement,  to,  among  other  things,  provide  for  the  orderly  transition  of  Doberstein's   duties;          WHEREAS,  on  the  parties  wish  to provide  for  the  releases  as  set  forth  herein  with   immediate effect upon the Separation Date (as that term is defined in the Transition, Separation,   and General Release Agreement);          NOW, THEREFORE, in consideration of the ongoing mutual promises  and   respective agreements, representations, warranties, covenants, conditions   contained in the [DATE]   Transition, Separation, and General Release Agreement, the parties hereby agree as follows:          1.     General. The parties acknowledge and agree: Doberstein signed the Transition,   Separation, and General Release Agreement; Doberstein's last day of employment was [Enter                                             Calendar Date Corresponding to Separation Date]; Doberstein agrees to sign and deliver the   Supplemental Release to the Company within twenty-one (21) calendar days of the Separation   Date; Doberstein understands and agrees that signing this Supplemental Release extends all of the   provisions and waivers in the [DATE] Transition, Separation, and General Release Agreement   from its effective date through the date this Supplemental Release is signed, including   Doberstein's release of any and all claims involving Doberstein's employment, association with   and/or separation from Company; and, in consideration for this Supplemental Release, within   twenty-one (21) calendar days of Doberstein's Separation Date (assuming   Doberstein signs and delivers to the Company an executed version of the Supplemental Release),   Doberstein shall receive payment of the Severance Payment as defined in the [DATE] Transition,   Separation, and General Release Agreement.          2.    Accrued Obligations. Upon receipt of (i) the Accrued Obligations detailed in                    Section 3 of the [DATE] Transition, Separation, and General Release Agreement, (ii) the                                                                         Confidential                        14 

 

 Transition  Services  Bonus  for  Transition  Services  detailed  in  Section  1  (c)  of  the  [DATE]   Transition, Separation, and General Release Agreement, (iii) and the Severance Benefits described   in Section 2 of the [DATE] Transition, Separation, and General Release Agreement, Doberstein   will have received all salary, wages, bonuses, accrued vacation and paid time off, and all other   benefits and compensation due to him through the Separation Date.          3.    Employee Acknowledgements               (a)    Acknowledgements and Representations. Doberstein acknowledges:         (a)  he has reported to the Company any and all work-related injuries incurred during   employment; (b) the Company properly provided any leave of absence because of his or a family   member's health condition, and he has not been subjected to any improper treatment, conduct or   actions due to a request for or taking such leave; (c) he has provided the Company with written   notice of any and all concerns regarding suspected ethical and compliance issues or violations on   the part of the Company or any Released Party; (d) he has not filed any complaints, claims, or   actions against the Company or any Released Party; and (e) he has not raised a claim of sexual   harassment or abuse with the Company. Doberstein further represents that he will not bring any   action in the future in which he seeks to recover any damages from the Company relating to or   arising from his employment or his separation from the Company, other than an action to enforce   his rights under this Supplemental Release and/or the Transition, Separation, and General Release   Agreement.          (b)  Confidential Information. Doberstein shall continue to maintain the confidentiality   of all confidential and proprietary information of Company and shall continue to comply with the   continuing obligations of the Employee Confidentiality Agreement, including, without limitation,   Section 4 of the Employee Confidentiality Agreement, which sets forth Doberstein's   confidentiality obligations with respect to Company's Confidential Information (as defined in the   Employee Confidentiality Agreement).         4.    Release Provisions                (a)     General Release. In exchange for the consideration described in Sections   I  (b),  1  (c)  and  2(b)  of  the  [DATE]  Transition,  Separation,  and  General  Release  Agreement   ("Agreement"),  Doberstein,  personally  and  for  Doberstein's  heirs,  executors,  administrators,   successors and assigns, hereby generally and completely release the Company and its subsidiaries,   successors, predecessors and affiliates, and its and their respective partners, members, directors,   officers, employees, stockholders, shareholders, agents, attorneys, predecessors, insurers, affiliates   and assigns (all of whom are referred to throughout this Agreement as "Released Parties"), from   any and all claims, demands, actions, causes of action, suits, damages, losses, expenses, liabilities,   and obligations, both known and unknown, individually or as part of a group action, that arise out   of or are in any way related to events, acts, conduct, or omissions occurring at any time through   the date Doberstein signs this Supplemental Release ("Claims"). This general release includes, but   is not limited to, to all matters in law, equity, contract, tort, or pursuant to statute, including but not   limited to any and all claims arising under the California Constitution, California statutory and   common law; Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act, the   California  Fair  Employment and  Housing  Act,  the  National  Labor Relations  Act;  or  any  other   federal, state or local statute, rule, ordinance, or regulation.    Confidential                        15 

 

       Doberstein further agrees and acknowledges that the release provided for in this Section 6   shall apply to all unknown and unanticipated injuries and/or damages. Doberstein acknowledges   and understands that Section 1542 of the Civil Code of the State of California provides as   follows:          A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE         CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO         EXIST IN HIS/HER FAVOR AT THE TIME OF EXECUTING THE RELEASE         AND  THAT,  IF  KNOWN  BY  HIM/HER,  WOULD  HAVE  MATERIALLY         AFFECTED HIS/HER SETTLEMENT WITH THE DEBTOR OR RELEASED         PARTY.    Doberstein intends these consequences even as to claims for damages that may exist as of the   date this Supplemental Release is executed that Doberstein does not know exist and which if   known, would materially affect Doberstein's decision to execute this Supplemental Release,   regardless of whether the lack of knowledge is the result of ignorance, oversight, error,   negligence or any other cause. Being aware of Section 1542 of the California Civil Code,   Doberstein, by signing this Supplemental Release, expressly waives the provisions of Section   1542 of the California Civil Code and any other similar provisions of law that may be applicable.   Notwithstanding the foregoing, this release of claims does not waive claims for the breach of this   Supplemental Release.                (b)  Exclusions from General Release. The above release does not waive   claims: (i) for unemployment or workers' compensation, (ii) for vested rights under ERISA   covered employee benefit plans as applicable on the date Doberstein signs this Supplemental   Release, (iii) that may arise after Doberstein signs this Supplemental Release, (iv) for   indemnification under California Labor Code section 2802, or (v) which cannot be released by   private agreement.          5.   Acknowledgement of Waiver of ADEA Claims. Doberstein acknowledges waiving   and releasing any rights under the Age Discrimination in Employment Act of 1967 ("ADEA")   and that this waiver and release is knowing and voluntary. Doberstein and the Company agree   that this waiver and release does not apply to any rights or claims that may arise under the ADEA   after the Effective Date of this Agreement. Doberstein acknowledges that the consideration given   for this waiver and Supplemental Release is in addition to anything of value to which Doberstein   was already entitled. Doberstein further acknowledges notice by this writing that:                (a)  Doberstein should consult with an attorney prior to executing this         Supplemental Release;                (b)  Doberstein has up to twenty-one (21) calendar days within which to         consider this Supplemental Release;                (c)  Doberstein has seven (7) calendar days following Doberstein's execution of         this Supplemental Release to revoke the Supplemental Release;    Confidential                        16 

 

             (d)  the ADEA waiver in this Agreement shall not be effective until the seven         (7) day revocation period has expired; and                (e)  nothing in this Supplemental Release prevents or precludes Doberstein         from challenging or seeking a determination in good faith of the validity of this waiver         under the ADEA, nor does it impose any condition precedent, penalties or costs for doing         so, unless specifically authorized by federal law; and                (f)  in order to revoke this Supplemental Release, Doberstein must deliver to         Mark A. Wilson's attention at the following address a written revocation before 12:00         a.m. (midnight) p.s.t. on the seventh calendar day following the date Doberstein signs the         Supplemental Release:                Mark A. Wilson, Esq.               Nektar Therapeutics               455 Mission Bay Boulevard, South               Suite 100               San Francisco, CA 94158               Email: mwilson@nektar.com          6. Voluntary Waiver and Release, Advice of Counsel, Consideration and Other   Information. Doberstein acknowledges and agrees that:          (a)  his waiver and release of rights under this Supplemental Release are voluntary, and   that he is acting of his own free will in executing this Supplement Release;          (b)  through this Supplemental Release, he is releasing the Released Parties from any   and all claims that he may have against any of the Released Parties;          (c)  his waiver and release, as set forth in this Supplemental Release, do not apply to   any rights or claims that may arise after the date he signs this Supplemental Release; and          (d)  the Company hereby advises Doberstein that, before signing this Agreement, he   should consult with an attorney, although he may choose voluntarily not to do so.          7. Counterparts. This Supplemental Release may be executed in counterparts, and each   counterpart shall have the same force and effect as an original and shall constitute an effective,   binding agreement on the part of each of the undersigned.                          [Remainder of Page Intentionally Left Blank]    Confidential                        17 

 

 In exchange for the ongoing promises contained in the [DATE] Transition, Separation, and General   Release  Agreement,  the  parties  hereto,  intending  to  be  legally bound  hereby,  have  caused  this   Supplemental Release to be executed.    NEKTAR THERAPEUTICS                                              Dated•          SENIOR VICE PRESIDENT, NEKTAR THERAPEUTICS    You  have  read  and  understood  this  Supplemental  Release,  sign  this  Supplemental  Release   knowing you could be waiving valuable rights, and acknowledge that this Supplemental Release   is final and binding.    STEPHEN DOBERSTEIN, PH.D.                                              Dated:                                           Confidential                        18

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