RELEASE AGREEMENTRelease Agreement • March 21st, 2006 • Dendreon Corp • Pharmaceutical preparations
I, Robert M. Hershberg, M.D., understand that my employment with Dendreon Corporation (the “Company”) will terminate effective March 15, 2006. The Company has agreed that, if I choose to sign this Release Agreement, then the Company will pay me severance pay in the amount of nine (9) months of base salary and an amount equal to seventy-five percent (75%) of my target bonus, minus the standard withholding and deductions, agree to pay me my COBRA premiums for a period of 18 months from the date of termination or until I am eligible to receive comparable health benefits from another Employer as they come due, if I elect COBRA benefits, immediate vesting of all unvested stock options and restricted stock, and provide me with up to $10,000 of outplacement assistance. In addition, I understand that the Company will pay me all of my accrued salary and vacation to which I am entitled by law.
CONSULTING AGREEMENTConsulting Agreement • March 21st, 2006 • Dendreon Corp • Pharmaceutical preparations • Washington
THIS CONSULTING AGREEMENT (this “Agreement”) is made at Seattle, Washington as of March 15, 2006, by and between Dendreon Corporation, 3005 First Avenue, Seattle, Washington 98121 (“Dendreon”) and Robert M. Hershberg, M.D. (“Consultant”).
