Document:

Form of Stock Option Agreement - People's Republic of China

 Exhibit 10.4 
 DOLBY LABORATORIES, INC. 
 2005 STOCK PLAN 
 STOCK OPTION AGREEMENT 
 (For
Participants in China) 
 Unless otherwise defined herein, the terms defined in the Dolby Laboratories, Inc. 2005 Stock Plan as amended
(the “Plan”) shall have the same defined meanings in this Stock Option Agreement (the “Option Agreement”). 
  

	I.	NOTICE OF STOCK OPTION GRANT 

  

			
	 Participant:
	 	[insert name of record]
		
	 Address:
	 	 [insert address line 1, 2, and 3 (as required)]
 [insert city, state/province zip/postal code (country)]

 Participant has been granted an Option, subject to the terms and conditions of the Plan and this
Option Agreement, as follows: 
  

			
	 Grant Number
	 	 [insert option number]

		
	 Date of Grant
	 	 [insert option date]

		
	 Vesting Commencement Date
	 	 [insert vest base date]

		
	 Exercise Price per Share
	 	 [insert option price]

		
	 Total Number of Shares Granted
	 	 [insert shares granted]

		
	 Total Exercise Price
	 	 [insert total option price]

		
	 Type of Option:
	 	 [insert long type]

		
	 Term/Expiration Date:
	 	 [insert expiration date]

 Vesting Schedule: 
 Subject to Participant continuing to be a Service Provider and other limitations set forth in the Plan and this Option Agreement, this Option may be exercised, in whole or in part, in accordance with the following
schedule: 
  

			
	 Date of Vesting
	 	 Shares Vesting

		
	 [Vest Date Period 1]
	 	[Shares Period 1]
		
	 [Vest Date Period 2]
	 	[Shares Period 2]
		
	 [Vest Date Period 3]
	 	[Shares Period 3]
		
	 [Vest Date Period 4]
	 	[Shares Period 4]

 Termination Period: 
 This Option will be exercisable for three (3) months after Participant ceases to be a Service Provider, unless such termination is due to
Participant’s death or Disability, in which case this Option will be exercisable for one (1) year after Participant ceases to be Service Provider. Notwithstanding the foregoing, in no event may this Option be exercised after the
Term/Expiration Date as provided above. 
  

	II.	AGREEMENT 

 A. Grant of Option.

 The Administrator hereby grants to Participant named in the Notice of Stock Option Grant (the “Notice of Grant”)
an Option to purchase the number of Shares, as set forth in the Notice of Grant, at the exercise price per Share set forth in the Notice of Grant (the “Exercise Price”), subject to the terms and conditions of the Plan, which is
incorporated herein by reference, and this Option Agreement. Subject to Section 20(c) of the Plan, in the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this Option Agreement, the terms and
conditions of the Plan shall prevail. 
 If designated in the Notice of Grant as an Incentive Stock Option, this Option is
intended to qualify as an Incentive Stock Option under Section 422 of the Code. However, if this Option is intended to be an Incentive Stock Option, to the extent that it exceeds the $100,000 rule of Code Section 422(d), or otherwise does
not qualify as an Incentive Stock Option, it shall be treated as a Nonstatutory Stock Option. 
 B. Exercise of Option. 
 1. Right to Exercise. This Option is exercisable during its term in accordance with the Vesting Schedule set out in the Notice of
Grant and the applicable provisions of the Plan and this Option Agreement. 
 2. Method of Exercise. This Option is
exercisable by (i) delivery of an exercise notice, in the form and manner determined by the Administrator, or (ii) following an electronic or other exercise procedure prescribed by the Administrator, which in either case shall state the
election to exercise the Option, the number of Shares in respect of which the Option is 

  

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being exercised (the “Exercised Shares”), and such other representations and agreements as may be required by the Company pursuant to the
provisions of the Plan. Participant shall provide payment of the aggregate Exercise Price as to all Exercised Shares at the time of exercise, together with any applicable withholding taxes arising in connection with such exercise. This Option shall
be deemed to be exercised upon receipt by the Company of a fully executed exercise notice or completion of such exercise procedure, as the Administrator may determine in its sole discretion, accompanied by such aggregate Exercise Price and any
applicable withholding taxes. 
 No Shares shall be issued pursuant to the exercise of this Option unless such issuance and
exercise complies with Applicable Laws. Assuming such compliance, for income tax purposes, the Exercised Shares shall be considered transferred to Participant on the date the Option is exercised with respect to such Exercised Shares. 
 C. Method of Payment. 
 Payment of the aggregate Exercise Price shall be by any of the following, or a combination thereof, at the election of Participant: 
 1. consideration received by the Company under a formal cashless exercise program adopted by the Company in connection with the Plan; or 
 2. any other methods approved by the Administrator and permitted by Applicable Laws. 
 D. Non-Transferability of Option. 
 This Option may not be transferred in any manner otherwise than by will or by the laws of descent or distribution and may be exercised during the lifetime of Participant only by Participant. The terms of the Plan and
this Option Agreement shall be binding upon the executors, administrators, heirs, successors and assigns of Participant. 
 E. Term of
Option. 
 This Option may be exercised only within the term set out in the Notice of Grant, and may be exercised during
such term only in accordance with the Plan and the terms of this Option Agreement. 
 F. Tax Obligations. 
 Regardless of any action the Company or Participant’s employer (the “Employer”) takes with respect to any or all income
tax, social insurance, payroll tax, payment on account or other tax-related withholding (“Tax-Related Items”), Participant acknowledges that the ultimate liability for all Tax-Related Items legally due by him or her is and remains
Participant’s responsibility and that the Company and/or the Employer (1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the Option grant, including the grant,
vesting or exercise of the Option, the subsequent sale of Shares acquired pursuant to such exercise and the receipt of any dividends; 

  

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and (2) do not commit to structure the terms of the grant or any aspect of the Option to reduce or eliminate Participant’s liability for
Tax-Related Items. 
 Participant understands that he or she may suffer adverse tax consequences as a result of
Participant’s purchase or disposition of the Shares. Participant represents that he or she will consult with any tax advisors Participant deems appropriate in connection with the purchase or disposition of the Shares and that Participant is not
relying on the Company for any tax advice. 
 Prior to exercise of the Option, Participant will pay or make adequate
arrangements satisfactory to the Company and/or the Employer to satisfy all withholding and payment on account obligations of the Company and/or the Employer. In this regard, Participant authorizes the Company and/or the Employer to withhold all
applicable Tax-Related Items legally payable by Participant from his or her wages or other cash compensation paid to Participant by the Company and/or the Employer or from proceeds of the sale of Shares. Alternatively, or in addition, if permissible
under local law, the Company may (1) sell or arrange for the sale of Shares acquired through exercise to meet the withholding obligation for Tax-Related Items, and/or (2) withhold in Shares, provided that the Company only withholds the
amount of Shares necessary to satisfy the minimum withholding amount. Finally, Participant will pay to the Company or the Employer any amount of Tax-Related Items that the Company or the Employer may be required to withhold as a result of
Participant’s participation in the Plan or Participant’s purchase of Shares that cannot be satisfied by the means previously described. Participant acknowledges and agrees that the Company may refuse to honor the exercise if such
withholding amounts are not delivered at the time of exercise. 
 G. Acknowledgements. 
 1. Participant acknowledges receipt of a copy of the Plan (including any applicable appendixes or sub-plans thereunder) and represents
that he or she is familiar with the terms and provisions thereof, and hereby accepts this Option subject to all of the terms and provisions thereof. Participant has reviewed the Plan (including any applicable appendixes or sub-plans thereunder) and
this Option Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Option and fully understands all provisions of the Option. Participant hereby agrees to accept as binding, conclusive and final
all decisions or interpretations of the Administrator upon any questions arising under the Plan or this Option. Participant further agrees to notify the Company upon any change in the residence address in the Notice of Grant. 
 2. The Company (and not Participant’s employer) is granting the Option. The Company will administer the Plan from outside
Participant’s country of residence. 
 3. That benefits and rights provided under the Plan are wholly discretionary and,
although provided by the Company, do not constitute regular or periodic payments. The benefits and rights provided under the Plan are not to be considered part of Participant’s salary or compensation for purposes of calculating any severance,
resignation, termination, redundancy or other end of service payments, vacation, bonuses, long-term service awards, indemnification, pension or retirement benefits, or any other payments, benefits or rights of any kind and in no 

  

 4 

 
event should be considered as compensation for, or relating in any way to, services for the Company or the Employer. 
 4. The grant of the Option, and any future grant of Options under the Plan is entirely voluntary, and at the complete discretion of the
Company. Neither the grant of the Option nor any future grant of an Option by the Company will be deemed to create any obligation to grant any further Options, whether or not such a reservation is explicitly stated at the time of such a grant. The
Company has the right, at any time to amend, suspend or terminate the Plan. 
 5. The future value of the underlying Shares is
unknown and cannot be predicted with certainty. 
 6. If the underlying Shares do not increase in value, the Option will have
no value. 
 7. The Plan will not be deemed to constitute, and will not be construed by Participant to constitute, part of the
terms and conditions of employment, and that the Company will not incur any liability of any kind to Participant as a result of any change or amendment, or any cancellation, of the Plan at any time. 
 8. In the event that the Participant is not an employee of the Company, Participation in the Plan will not be deemed to constitute, and
will not be deemed by Participant to constitute, an employment or labor contract with the Company and furthermore, the Option grant will not be interpreted to form an employment or labor contract with the Employer or any Subsidiary or affiliate of
the Company. 
 9. Participant has received the terms and conditions of this Option Agreement and any other related
communications in English, and Participant consents to having received these documents in English. 
 10. The Participant is
voluntarily participating in the Plan. 
 11. In consideration of the grant of the Option, no claim or entitlement to
compensation or damages shall arise from termination of the Option or diminution in value of the Option resulting from termination of Participant’s employment by the Company or the Employer (for any reason whatsoever and whether or not in
breach of local labor laws) and Participant irrevocably releases the Company and the Employer from any such claim that may arise; if, notwithstanding the foregoing, any such claim is found by a court of competent jurisdiction to have arisen, then,
by accepting this Option Agreement, Participant will be deemed irrevocably to have waived his or her entitlement to pursue such claim. 
 12. In the event of termination of Participant’s employment (whether or not in breach of local labor laws), Participant’s right to receive the Option and vest in the Option under the Plan, if any, will
terminate effective as of the date that Participant is no longer actively employed and will not be extended by any notice period mandated under local law (e.g., active employment would not include a period of “garden leave” or
similar period pursuant to local law). In the event of termination of employment (whether or not in breach of local labor laws), 

  

 5 

 
Participant’s right to exercise the Option after termination of employment, if any, will be measured by the date of termination of Participant’s
active employment and will not be extended by any notice period mandated under local law. The Administrator shall have the exclusive discretion to determine when Participant is no longer actively employed for purposes of his or her Option grant.

 H. Data Privacy. 
 By entering into this Option Agreement, and as a condition of the grant of the Option, Participant consents to the collection, use, and transfer of personal data as described in this section to the full extent
permitted by and in full compliance with Applicable Law. 
 Participant understands that the Company and its
Subsidiaries hold certain personal information about the Participant, including, but not limited to, name, home address and telephone number, date of birth, social insurance number, salary, nationality, job title, any Shares or directorships held in
the Company, details of all Options or other entitlement to Shares awarded, canceled, exercised, vested, unvested, or outstanding in Participant’s favor, for the purpose of managing and administering the Plan (“Data”).

 Participant further understands that the Company and/or its Subsidiaries will transfer Data among themselves
as necessary for the purposes of implementation, administration, and management of Participant’s participation in the Plan, and that the Company and/or its Subsidiary may each further transfer Data to any third parties assisting the Company in
the implementation, administration, and management of the Plan (“Data Recipients”). 
 Participant
understands that these Data Recipients may be located in Participant’s country of residence or elsewhere, such as the United States and that that country may have different data privacy laws and protections than Participant’s country.
Participant authorizes the Data Recipients to receive, possess, use, retain, and transfer Data in electronic or other form, for the purposes of implementing, administering, and managing Participant’s participation in the Plan, including any
transfer of such Data, as may be required for the administration of the Plan. 
 Participant understands that
Participant may, at any time, review the Data, request that any necessary amendments be made to it, or withdraw Participant’s consent herein in writing by contacting the Company. Participant further understands that withdrawing consent may
affect Participant’s ability to participate in the Plan. 
 I. Entire Agreement; Governing Law. 
 The Plan is incorporated herein by reference. The Plan and this Option Agreement constitute the entire agreement of the parties with
respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company and Participant with respect to the subject matter hereof, and may not be modified adversely to Participant’s interest
except by means of a writing signed by the Company and Participant. 
  

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 This Option Agreement is governed by the internal substantive laws, but not the choice of
law rules, of California. For purposes of litigating any dispute that arises directly or indirectly from the relationship of the parties evidenced by this grant or the Option Agreement, the parties hereby submit to and consent to the exclusive
jurisdiction of the State of California and agree that such litigation shall be conducted only in the courts of San Francisco County, California, or the federal courts for the United States for the Northern District of California, and no other
courts, where this grant is made and/or to be performed. 
 J. NO GUARANTEE OF CONTINUED SERVICE. 
 PARTICIPANT ACKNOWLEDGES AND AGREES THAT THE VESTING OF SHARES PURSUANT TO THE VESTING SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING AS A
SERVICE PROVIDER AT THE WILL OF THE COMPANY OR THE PARENT OR SUBSIDIARY EMPLOYING OR RETAINING PARTICIPANT (AND NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED AN OPTION OR PURCHASING SHARES HEREUNDER). PARTICIPANT FURTHER ACKNOWLEDGES AND AGREES
THAT THIS OPTION AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH IN THE NOTICE OF GRANT DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING PERIOD, FOR
ANY PERIOD, OR AT ALL, AND SHALL NOT INTERFERE WITH PARTICIPANT’S RIGHT OR THE COMPANY’S (OR PARENT’S OR SUBSIDIARY’S) RIGHT TO TERMINATE PARTICIPANT’S RELATIONSHIP AS A SERVICE PROVIDER AT ANY TIME, WITH OR WITHOUT CAUSE.

 K. Severability. The provisions of this Option Agreement are severable and if any one or more provisions are determined to
be illegal or otherwise unenforceable, in whole or in part, the remaining provisions shall nevertheless be binding and enforceable. 
 L.
Electronic Delivery. The Company may, in its sole discretion, decide to deliver any documents related to the Option granted under, and Participant’s participation in the Plan, or future options that may be granted under the Plan
by electronic means or to request Participant’s consent to participate in the Plan by electronic means. Participant hereby consents to receive such documents by electronic delivery and, if requested, to agree to participate in the Plan through
an on-line or electronic system established and maintained by the Company or another third party designated by the Company. 
 By Participant’s electronic signature and the electronic signature of the Company’s representative, Participant and the Company agree that this Option is granted under and governed by the terms and conditions of the Plan and this
Option Agreement. Participant has reviewed the Plan and this Option Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Option Agreement and fully understands all provisions of the Plan and
Option Agreement. Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions relating to the Plan and Option Agreement. 
  

 7Separation Agreement

 Exhibit 10.1 
 NABI BIOPHARMACEUTICALS 
 5800 Park of Commerce Boulevard, N.W. 
 Boca Raton, Florida 33487 
 June 13, 2006 
 Joseph Johnson 
 160 South Street

 Hingham, Ma 02043 
  

	Re:	Separation of Employment 

 Dear Joe: 
 This letter agreement (the “Agreement”) will confirm our agreement concerning the details of your separation from Nabi Biopharmaceuticals (“Nabi”).

  

	1.	Communication. You shall not communicate in any manner regarding this Agreement or other matters related to Nabi with any employee, consultant, shareholder, vendor or
customer of Nabi or any person having a relationship with Nabi unless specifically requested in writing by a Nabi Executive Leadership Team member or unless directed to Anna E. Mack, General Counsel, or William E. Vandervalk, Vice President, Human
Resources. 

  

	2.	Separation from Employment. Nabi accepts your resignation, effective June 13, 2006, as an employee and officer of Nabi, and as an officer or director of any of
Nabi’s subsidiaries in which you may serve in that capacity. This Agreement shall become effective on the date that you execute this Agreement and Nabi receives a copy thereof executed by you. Nabi reserves the right to revoke this Agreement at
any time prior to its effectiveness and this Agreement will be revoked automatically if it does not become effective by 12:00 (noon) EDT on Friday, June 16, 2006. This deadline is necessary to allow us time to fulfill our disclosure obligations
with respect to your separation from Nabi under the federal securities laws. Nabi reserves all of its rights under your Employment Agreement with Nabi dated effective September 1, 2005 (the “Employment Agreement”), including without
limitation the right to treat your separation from Nabi as termination your employment for cause if this Agreement does not become effective. 

  

	3.	Severance Benefits. If you do not revoke any portion of your release in Section 4 of this Agreement and you comply with the other terms and provisions of this Agreement
and with Sections 9, 10 and 11 of the Employment Agreement, you shall receive severance pay equaling seven months of your current base salary to be paid out over time in accordance with the normal payroll practices of Nabi, but with the final
payment no later than January 31, 2007. Nabi will continue to pay your current auto allowance during the period that you are receiving severance pay. If, however, you execute this Agreement but revoke a portion of your release in Section 4
of this Agreement in accordance with Section 12 within the time period described therein and you comply with the other terms and provisions of this Agreement and with Sections 9, 10 and 11 of the Employment Agreement, you shall receive

 Mr. Johnson 
 June 13, 2006

 Page 2 
  

	    	severance pay equaling four months of your current base salary to be paid out over time in accordance with the normal payroll practices of Nabi, but with the final payment no later
than October 31, 2006. 

 You hereby agree that any and all awards issued to you under the Nabi Biopharmaceuticals 2000
Equity Incentive Plan are hereby cancelled and forfeited, including, without limitation, all options to purchase Nabi common stock and all shares of Nabi restricted stock, and that you are not entitled to receive any additional Nabi equity awards.

 You should be aware of the potential characterization of severance pay under the terms of this Agreement as non-qualified deferred
compensation under the American Jobs Creation Act. You should consult with your tax advisor to consider how the American Jobs Creation Act and the related regulations and other applicable tax laws affect your severance benefits. 
 For as long as you are receiving severance pay, your health benefits will continue in the same manner as existed on the effective date of this Agreement,
subject to appropriate deductions from your severance payment to cover premiums and the terms and conditions of the health plans. You will be sent information to coordinate the appropriate COBRA requirements with this health benefits continuation.

  

	4.	Release. For the consideration set forth herein, which you acknowledge is adequate and satisfactory to you, and intending to be legally bound, you hereby release Nabi and its
subsidiaries and related companies and their respective shareholders, directors, officers, employees, representatives, and agents, past or present, and its and their respective successors and assigns, heirs, executors, insurers, attorneys, and
administrators (hereinafter “Nabi Releasees”) from any and all agreements, promises, liabilities, claims, demands, rights and entitlements of any kind whatsoever, in law or equity, whether known or unknown, asserted or unasserted, fixed or
contingent, apparent or concealed, which you, your heirs, executors, administrators, successors or assigns ever had, now have or hereafter can, shall or may have for, upon, or by reason of any matter, cause or thing whatsoever existing, arising or
occurring at any time on or prior to the effective date of this Agreement, including, without limitation, any and all claims arising out of or relating to your employment with Nabi and your separation therefrom, and/or any and all claims you may
have against any Nabi Releasees relating to any acts and/or omissions by any Nabi Releasees or any claims under any of Nabi’s equity incentive plans, and any and all contract claims, tort claims, negligence, fraud claims, including fraud in the
inducement, defamation, disparagement, or other personal injury claims, claims of discrimination or claims pursuant to law, statute, regulation or common law, and claims for costs, expenses and attorneys’ fees with respect thereto.

 THIS RELEASE AND WAIVER INCLUDES, WITHOUT LIMITATION, ANY AND ALL RIGHTS UNDER THE AMERICANS WITH DISABILITIES ACT, AS
AMENDED, TITLE VII OF THE CIVIL RIGHTS ACT OF 1964, AS AMENDED, THE AGE DISCRIMINATION IN EMPLOYMENT ACT, AS AMENDED, 

 Mr. Johnson 
 June 13, 2006

 Page 3 
 MASSACHUSETTS AND FLORIDA COMMON
LAW, AND ALL OTHER FEDERAL, STATE OR LOCAL STATUTES, ORDINANCES, REGULATIONS OR CONSTITUTIONAL PROVISIONS, INCLUDING THE FLORIDA CIVIL RIGHTS ACT, CHAPTER 760, FLORIDA STATUTES AND FLORIDA WHISTLEBLOWER ACT. 
 If any part of this full and general release is deemed to be invalid, you agree to immediately sign a new full and general release in favor of the Nabi
Releasees that is not invalid. The parties intend for this full and general release to release all claims against the Nabi Releasees to the maximum extent of the law. 
 You further acknowledge that Nabi has provided you with all leave time requested and/or required including under the Family and Medical Leave Act (“FMLA”), has explained the FMLA and policies and/or leave
documentation provided to you, and has taken no adverse action whatsoever based on you taking or requesting leave, including under the FMLA. 
 For the purposes of implementing a full and complete release of claims, you expressly acknowledge that this Agreement is intended to include, without limitation, all claims described in this Section 4 herein, whether known or unknown,
and that this Agreement contemplates the extinction of all such claims. You expressly waive any right to assert after signing this Agreement that any such claim has, through ignorance or oversight, been omitted from the scope of the Agreement.

  

	5.	Non-Disparagement. You agree that you will not make any communication, oral or written, that disparages, criticizes or otherwise reflects adversely upon Nabi or any of its
shareholders, employees, consultants, representatives and agents, past or present, except if testifying truthfully under oath pursuant to subpoena or other legal process. 

  

	6.	Governing Law. This Agreement shall be subject to and governed by and in accordance with the laws of the State of Florida, without regard to conflict of laws principles.

  

	7.	Interpretation. Nothing in this Agreement shall be construed as an admission by Nabi or any of its shareholders, agents, employees, or representatives, past or present, that
it or they violated any law or regulation or any other legal or equitable obligation it or they have or ever had to you. 

  

	8.	No Obligation to Re-employ. You agree that your employment relationship with Nabi has ended forever and that you will not apply for or otherwise seek employment, consulting,
or contractual status with Nabi at any time, or return to the workplace for any reason. 

  

	9.	Return of Property. You agree to return to Nabi on or before June 23, 2006, all property of Nabi used or obtained by you in connection with your employment that is in
your possession or control, including, without limitation, the laptop and “Blackberry” devices issued to you. 

 Mr. Johnson 
 June 13, 2006

 Page 4 
  

	10.	Intention to be Legally Bound. You affirm that the terms stated above are the only consideration for entering into this Agreement, that no other promise or agreement of any
kind has been made with or to you by any person or entity to cause you to enter into this Agreement, and that you affirm that you fully understand the meaning and intent of this Agreement, including, but not limited to its final and binding effect.

  

	11.	Consultation with Attorney. You affirm that you have been advised to consult with an attorney before signing this Agreement and have had the opportunity to do so. You
acknowledge that you fully understand this Agreement, that you have had a reasonable time to consider this Agreement, and that you are knowingly and voluntarily entering into this Agreement. 

  

	12.	ADEA Claims. As to any and all claims, demands, actions, causes of action, suits, damages, losses and expenses, known or unknown, that you may have pursuant to the Age
Discrimination in Employment Act, 29 U.S.C. § 621 et seq. (“ADEA”), you acknowledge that you have twenty-one (21) days from the time you receive this Agreement to consider whether to sign it. You affirm that if you
choose to sign the Agreement before the end of those twenty-one (21) days, it is because you freely chose to do so after carefully considering the terms of this Agreement as to any ADEA claims and contacting anyone whom you chose to consult,
including but not limited to, an attorney. You further understand and acknowledge that once you sign this Agreement, you will then have seven (7) calendar days, if you so choose, to revoke the release in Section 4 of this Agreement
solely as to any claims arising under the ADEA. To so revoke a portion of such release as to any ADEA claims, you must do so by giving written notice of such revocation by hand-delivery or fax to William E. Vandervalk, Vice President, Human
Resources, Nabi Biopharmaceuticals, 5800 Park of Commerce Blvd., N.W., Boca Raton, FL 33487 (Fax No. 561.989.5874). You realize that once signed, this Agreement is immediately effective and enforceable as to any and all claims, except that this
Agreement will not be effective or enforceable as to any claim under the ADEA until the seven (7) calendar day revocation period expires. You agree that changes to this Agreement, whether material or immaterial, will not restart the twenty-one
(21) days you have to consider this Agreement. 

  

	13.	Amendment. This Agreement cannot be amended orally or by any course of conduct or dealing and may only be amended or any of its provisions waived by a written agreement
signed by you and Nabi. 

  

	14.	Entire Agreement. When accepted by you, this Agreement and Sections 9, 10, 11 and 12 of the Employment Agreement set forth the entire agreement between you and Nabi and fully
supersede any and all prior agreements or understandings between you and Nabi pertaining to the subject matter hereof and thereof. 

 Mr. Johnson 
 June 13, 2006

 Page 5 
 If this Agreement is acceptable to you, please
indicate your agreement by signing and dating the enclosed copy of this Agreement and returning it to me. 
  

	
	 Sincerely,

	
	 /s/ Thomas H. McLain

	 Thomas H. McLain

	 Chairman of the Board, CEO and President

  

	cc:	Payroll/Human Resources 

 I expressly agree to accept the Severance
Agreement set forth above and verify that I am entering this Agreement knowingly and voluntarily, without any coercion or duress. I acknowledge that I was given adequate time to review this letter and that I was advised to obtain legal advice from
an attorney regarding its terms. I understand the contents of this Agreement, and agree to all its terms and conditions including the release of all claims contained in Sections 4 and 12. 
  

									
					
	 Date:
	 	 June 15, 2006
	 		 	 Signed:
	 	 /s/ Joseph Johnson

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