<SEC-DOCUMENT>0001193125-17-254482.txt : 20170810
<SEC-HEADER>0001193125-17-254482.hdr.sgml : 20170810
<ACCEPTANCE-DATETIME>20170810161705
ACCESSION NUMBER:		0001193125-17-254482
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20170809
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20170810
DATE AS OF CHANGE:		20170810

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DYNAVAX TECHNOLOGIES CORP
		CENTRAL INDEX KEY:			0001029142
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				330728374
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34207
		FILM NUMBER:		171021660

	BUSINESS ADDRESS:	
		STREET 1:		2929 SEVENTH STREET
		STREET 2:		SUITE 100
		CITY:			BERKELEY
		STATE:			CA
		ZIP:			94710
		BUSINESS PHONE:		5108485100

	MAIL ADDRESS:	
		STREET 1:		2929 SEVENTH STREET
		STREET 2:		SUITE 100
		CITY:			BERKELEY
		STATE:			CA
		ZIP:			94710
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d430663d8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML><HEAD>
<TITLE>Form 8-K</TITLE>
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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>Form <FONT
STYLE="white-space:nowrap">8-K</FONT> </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT
REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant to Section&nbsp;13 or 15(d) </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>of the Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of earliest event reported): August&nbsp;9, 2017 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>Dynavax Technologies Corporation </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of registrant as specified in its charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Commission
File Number: <FONT STYLE="white-space:nowrap">001-34207</FONT> </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><B>Delaware</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">33-0728374</FONT></B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or other jurisdiction</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of incorporation)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(IRS Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>2929 Seventh Street, Suite 100 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Berkeley, CA 94710-2753 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of principal executive offices, including zip code) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(510) <FONT STYLE="white-space:nowrap">848-5100</FONT> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Registrant&#146;s telephone number, including area code) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former name or former address, if changed since last report) </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Check the appropriate box below if the Form <FONT STYLE="white-space:nowrap">8-K</FONT> filing is intended to simultaneously satisfy the filing obligation
of the registrant under any of the following provisions: </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B></B>&#9744;<B></B><B></B></TD>
<TD ALIGN="left" VALIGN="top"><B>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </B></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B></B>&#9744;<B></B><B></B></TD>
<TD ALIGN="left" VALIGN="top"><B>Soliciting material pursuant to Rule <FONT STYLE="white-space:nowrap">14a-12</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.14a-12)</FONT> </B></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B></B>&#9744;<B></B><B></B></TD>
<TD ALIGN="left" VALIGN="top"><B><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT STYLE="white-space:nowrap">14d-2(b)</FONT> under the Exchange Act (17 CFR
<FONT STYLE="white-space:nowrap">240.14d-2(b))</FONT> </B></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B></B>&#9744;<B></B><B></B></TD>
<TD ALIGN="left" VALIGN="top"><B><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT STYLE="white-space:nowrap">13e-4(c)</FONT> under the Exchange Act (17 CFR
<FONT STYLE="white-space:nowrap">240.13e-4(c))</FONT> </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant is an emerging growth company as
defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule <FONT STYLE="white-space:nowrap">12b-2</FONT> of the Securities Exchange Act of 1934 <FONT STYLE="white-space:nowrap">(&#167;240.12b-2</FONT> of this chapter).
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Emerging growth company&nbsp;&nbsp;&#9744; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If an emerging
growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section&nbsp;13(a) of the Exchange
Act.&nbsp;&nbsp;&#9744; </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

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<TD WIDTH="12%" VALIGN="top" ALIGN="left"><B>Item&nbsp;1.01.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Entry into a Material Definitive Agreement </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On August&nbsp;9, 2017, Dynavax Technologies
Corporation (the &#147;Company&#148;, &#147;Dynavax&#148; or &#147;we&#148;) entered into an underwriting agreement (&#147;Underwriting Agreement&#148;) with Cowen and Company, LLC, RBC Capital Markets, LLC and William Blair&nbsp;&amp; Company,
L.L.C., as representatives of the underwriters named therein (the &#147;Underwriters&#148;) relating to the issuance and sale of 5,000,000 shares of our common stock, at a price to the public of $15.00 per share. Pursuant to the Underwriting
Agreement, the Underwriters have agreed to purchase the shares from us at a price of $14.10 per share. The net proceeds to us from this offering are expected to be approximately $70.25&nbsp;million, after deducting underwriting discounts and
commissions and other estimated offering expenses payable by us. The sale of shares of common stock is expected to close on or about August&nbsp;15, 2017, subject to customary closing conditions. In addition, under the terms of the Underwriting
Agreement, we have granted the Underwriters an option, exercisable for 30 days from the date of the Underwriting Agreement, to purchase up to an additional 750,000 shares of our common stock to cover over-allotments, if any. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Underwriting Agreement contains customary representations, warranties and agreements by us, customary conditions to closing,
indemnification obligations of Dynavax and the Underwriters, including for liabilities under the Securities Act of 1933, as amended, other obligations of the parties and termination provisions. The representations, warranties and covenants contained
in the Underwriting Agreement were made only for purposes of such agreement and as of specific dates, were solely for the benefit of the parties to such agreement, and may be subject to limitations agreed upon by the contracting parties. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The offering is being made pursuant to the Company&#146;s effective shelf registration statement on Form
<FONT STYLE="white-space:nowrap">S-3ASR</FONT> (Registration Statement No.&nbsp;333-219781) and the related prospectus supplement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A copy
of the Underwriting Agreement is filed as Exhibit 1.1 to this report, and the foregoing description of the Underwriting Agreement does not purport to be complete and is qualified in its entirety by reference to such exhibit. A copy of the opinion of
Cooley LLP relating to the legality of the issuance and sale of the securities in these offerings is attached as Exhibit 5.1 hereto. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="12%" VALIGN="top" ALIGN="left"><B>Item&nbsp;8.01.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Other Events </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Consistent with Dynavax&#146;s previously disclosed expectations, the U.S.
Food and Drug Administration (the &#147;FDA&#148;) notified the Company on August 9, 2017 that its response to the FDA&#146;s request for additional information regarding Dynavax&#146;s proposed post-marketing study for HEPLISAV-B is considered a
Major Amendment to the Company&#146;s Biologics License Application and that the HEPLISAV-B Prescription Drug User Fee Act date has been extended by three months to November 9, 2017. </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="12%" VALIGN="top" ALIGN="left"><B>Item&nbsp;9.01.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Financial Statements and Exhibits </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Exhibits. The following exhibits are filed
herewith: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;1.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Underwriting Agreement, dated August&nbsp;9, 2017</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;5.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Opinion of Cooley LLP</TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>23.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Consent of Cooley LLP (included in Exhibit 5.1)</TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Dynavax Technologies Corporation</TD></TR>
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<TD HEIGHT="16"></TD>
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<TD HEIGHT="16" COLSPAN="2"></TD>
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<TD VALIGN="top">Date: August&nbsp;10, 2017</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Steven N. Gersten</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Steven N. Gersten</TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Vice President</TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBIT INDEX </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


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<TD WIDTH="92%"></TD></TR>
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<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Exhibit</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; width:25.30pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>No.</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:39.50pt; font-size:8pt; font-family:Times New Roman"><B>Description</B></P></TD></TR>


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<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;1.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Underwriting Agreement, dated August&nbsp;9, 2017</TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;5.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Opinion of Cooley LLP</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>23.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Consent of Cooley LLP (included in Exhibit 5.1)</TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 1.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B><U>EXECUTION COPY </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>5,000,000 Shares </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>DYNAVAX TECHNOLOGIES CORPORATION </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Common Stock </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>UNDERWRITING AGREEMENT </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">August&nbsp;9, 2017 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">C<SMALL>OWEN</SMALL>
<SMALL>AND</SMALL> C<SMALL>OMPANY</SMALL>, LLC </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">RBC C<SMALL>APITAL</SMALL> M<SMALL>ARKETS</SMALL>, LLC </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">W<SMALL>ILLIAM</SMALL> B<SMALL>LAIR</SMALL>&nbsp;&amp; C<SMALL>OMPANY</SMALL>, L.L.C. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;As Representatives of the several Underwriters </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">c/o C<SMALL>OWEN</SMALL> <SMALL>AND</SMALL> C<SMALL>OMPANY</SMALL>, LLC </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">599 Lexington Avenue </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">27th Floor </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">New York, NY 10022 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">c/o RBC C<SMALL>APITAL</SMALL>
M<SMALL>ARKETS</SMALL>, LLC </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">200 Vesey Street </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10th Floor
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">New York, NY 10281 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">c/o W<SMALL>ILLIAM</SMALL>
B<SMALL>LAIR</SMALL>&nbsp;&amp; C<SMALL>OMPANY</SMALL>, L.L.C. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The William Blair Building </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">150 North Riverside Plaza </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Chicago, IL 60606 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Sirs: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1.&nbsp;&nbsp;&nbsp;&nbsp;<I>I<SMALL>NTRODUCTORY</SMALL></I><SMALL></SMALL>. Dynavax Technologies Corporation, a Delaware corporation (the
&#147;<B>Company</B>&#148;), proposes to sell, pursuant to the terms of this Agreement, to the several underwriters named in <U>Schedule A</U> hereto (the &#147;<B>Underwriters</B>,&#148; or, each, an &#147;<B>Underwriter</B>&#148;), an aggregate of
5,000,000 shares of common stock, $0.001 par value (the &#147;<B>Common Stock</B>&#148;), of the Company. The aggregate of 5,000,000 shares so proposed to be sold is hereinafter referred to as the &#147;<B>Firm</B> <B>Stock</B>&#148;. The Company
also proposes to sell to the Underwriters, upon the terms and conditions set forth in Section&nbsp;3 hereof, up to an additional 750,000 shares of Common Stock (the &#147;<B>Optional Stock</B>&#148;). The Firm Stock and the Optional Stock are
hereinafter collectively referred to as the &#147;<B>Stock</B>.&#148; Cowen and Company, LLC, RBC Capital Markets, LLC and William Blair&nbsp;&amp; Company, L.L.C. are acting as the representatives of the several Underwriters and in such capacity
are hereinafter referred to as the &#147;<B>Representatives</B>.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">An &#147;automatic shelf registration statement&#148; as defined
in Rule 405 of the rules and regulations (the &#147;<B>Rules and Regulations</B>&#148;) promulgated under the Securities Act of 1933, as amended (the &#147;<B>Securities Act</B>&#148;) on Form <FONT STYLE="white-space:nowrap">S-3</FONT> (File <FONT
STYLE="white-space:nowrap">No.&nbsp;333-219781)</FONT> in respect of the Stock has been filed with the Securities and Exchange Commission (the &#147;<B>Commission</B>&#148;) not earlier than three (3)&nbsp;years prior to the date hereof; such
registration statement, and any post-effective amendment thereto, became effective on filing; and no stop order suspending the effectiveness of such registration statement or any part thereof has been issued and no proceeding for that purpose has
been initiated or threatened by the Commission, </P>

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and no notice of objection of the Commission to the use of such registration statement or any post-effective amendment thereto pursuant to Rule 401(g)(2) of the Rules and Regulations has been
received by the Company (the prospectus filed as part of such automatic shelf registration statement in the form in which it has most recently been filed with the Commission on or prior to the date of this Agreement, is hereinafter called the
&#147;<B>Base Prospectus</B>&#148;. Such automatic shelf registration statement, including all exhibits thereto, but excluding Form <FONT STYLE="white-space:nowrap">T-1,</FONT> and including any prospectus supplement relating to the Stock that is
filed with the Commission and deemed by virtue of Rule 430B of the Rules and Regulations to be part of such automatic shelf registration statement, are hereinafter collectively called the &#147;<B>Registration Statement</B>.&#148; The preliminary
prospectus supplement dated August&nbsp;8, 2017 describing the Stock and the offering thereof, together with the Base Prospectus, is called the &#147;<B>Preliminary Prospectus</B>,&#148; and the Preliminary Prospectus and any other preliminary
prospectus supplement to the Base Prospectus that describes the Stock and the offering thereof and is used prior to the filing of the Prospectus (as defined below), together with the Base Prospectus, is called a &#147;<B>preliminary
prospectus</B>.&#148; As used herein, the term &#147;<B>Prospectus</B>&#148; shall mean the final prospectus supplement to the Base Prospectus that describes the Stock and the offering thereof (the &#147;<B>Final Prospectus Supplement</B>&#148;),
together with the Base Prospectus, in the form first used by the Underwriters to confirm sales of the Stock or in the form first made available to the Underwriters by the Company to meet requests of purchasers pursuant to Rule 173 under the
Securities Act. Any registration statement filed by the Company pursuant to Rule 462(b) under the Securities Act is called the &#147;<B>Rule 462(b) Registration Statement</B>,&#148; and from and after the date and time of filing of the Rule 462(b)
Registration Statement, the term &#147;<B>Registration Statement</B>&#148; shall include the Rule 462(b) Registration Statement.&nbsp;&nbsp;&nbsp;&nbsp;As used herein, the terms &#147;<B>Registration Statement</B>,&#148; &#147;<B>Rule 462(b)
Registration Statement</B>,&#148; &#147;<B>Preliminary Prospectus</B>,&#148; &#147;<B>preliminary prospectus</B>,&#148; &#147;<B>Base Prospectus</B>,&#148; &#147;<B>Time of Sale Disclosure Package</B>&#148; and &#147;<B>Prospectus</B>&#148; shall
include the documents incorporated or deemed to be incorporated by reference therein. All references in this Agreement to amendments or supplements to the Registration Statement, the Rule 462(b) Registration Statement, the Preliminary Prospectus,
any preliminary prospectus, the Base Prospectus, the Time of Sale Disclosure Package or the Prospectus shall be deemed to mean and include the filing of any document under the Securities Exchange Act of 1934, as amended, and the rules and
regulations promulgated thereunder (collectively, the &#147;<B>Exchange Act</B>&#148;) which is or is deemed to be incorporated by reference in the Registration Statement, the Rule 462(b) Registration Statement, the Preliminary Prospectus, such
preliminary prospectus, the Base Prospectus, the Time of Sale Disclosure Package or the Prospectus, as the case may be. All references in this Agreement to the Registration Statement, the Rule 462(b) Registration Statement, the Preliminary
Prospectus, any other preliminary prospectus, the Base Prospectus or the Prospectus, or any amendments or supplements to any of the foregoing, shall include any copy thereof filed with the Commission pursuant to its Electronic Data Gathering,
Analysis and Retrieval System (&#147;<B>EDGAR</B>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As used herein, &#147;<B>Applicable Time</B>&#148; is 5:30 p.m. (New York time)
on August&nbsp;9, 2017. As used herein, &#147;<B>free writing prospectus</B>&#148; has the meaning set forth in Rule 405 under the Securities Act, and &#147;<B>Time of Sale Disclosure Package</B>&#148; means the preliminary prospectus, as amended or
supplemented immediately prior to the Applicable Time, together with the free writing prospectuses, if any, identified in <U>Schedule B</U> hereto, the information identified on <U>Schedule C</U> hereto, and each &#147;road show&#148; (as defined in
Rule 433 under the Securities Act), if any, related to the offering of the Stock contemplated hereby that is a &#147;written communication&#148; (as defined in Rule 405 under the Securities Act) (each such road show, a &#147;<B>Road Show</B>&#148;).
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">All references in this Agreement to financial statements and schedules and other information which are &#147;<B>contained</B>,&#148;
&#147;<B>included</B>&#148; or &#147;<B>stated</B>&#148; in the Registration Statement, the Preliminary Prospectus, any preliminary prospectus, the Base Prospectus, the Time of Sale Disclosure Package or the Prospectus (and all other references of
like import) shall be deemed to mean and include all such financial statements and schedules and other information which is or is deemed to be incorporated by reference in the Registration Statement, the Preliminary Prospectus, any preliminary
prospectus, the Base Prospectus, the Time of Sale Disclosure Package or the Prospectus, as the case may be. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company hereby confirms its agreements with the Underwriters as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2.&nbsp;&nbsp;&nbsp;&nbsp;R<SMALL>EPRESENTATIONS</SMALL> <SMALL>AND</SMALL> W<SMALL>ARRANTIES</SMALL> <SMALL>OF</SMALL> <SMALL>THE</SMALL>
C<SMALL>OMPANY</SMALL>. The Company represents and warrants to the several Underwriters, as of the date hereof and as of each Closing Date (as defined below), and agrees with the several Underwriters, that: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;<I>Compliance with Registration Requirements</I>. The Registration Statement (including, for avoidance of doubt, any
Rule 462(b) Registration Statement) has become effective under the Securities Act. The Company has complied to the Commission&#146;s satisfaction with all requests of the Commission for additional or supplemental information, if any. No stop order
suspending the effectiveness of the Registration Statement (including, for avoidance of doubt, any Rule 462(b) Registration Statement) is in effect and no proceedings for such purpose have been instituted or are pending or, to the Company&#146;s
knowledge, are contemplated or threatened by the Commission. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Each preliminary prospectus and the Prospectus when filed complied or will
comply in all material respects with the Securities Act and, if filed by electronic transmission pursuant to EDGAR (except as may be permitted by Regulation <FONT STYLE="white-space:nowrap">S-T</FONT> under the Securities Act), was identical to the
copy thereof delivered to the Underwriters for use in connection with the offer and sale of the Stock. Each of the Registration Statement (including, for avoidance of doubt, any Rule 462(b) Registration Statement) and any post-effective amendment
thereto, at the time it became effective and at all subsequent times during which a prospectus is required by the Securities Act to be delivered (whether physically or through compliance with Rule 172 under the Securities Act or any similar rule) in
connection with any sale of Stock by any Underwriter or a dealer (such times, the &#147;<B>Prospectus Delivery Period</B>&#148;), complied and will comply in all material respects with the Securities Act and did not and will not contain any untrue
statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading. As of the Applicable Time, the Time of Sale Disclosure Package (including any preliminary
prospectus wrapper) did not, and at the time of each sale of the Stock and at the Closing Date or the Option Closing Date (as defined in <U>Section</U><U></U><U>&nbsp;3</U>), the Time of Sale Disclosure Package, as then amended or supplemented by
the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. The
Prospectus (including any Prospectus wrapper), as then amended or supplemented, as of the date of the Final Prospectus Supplement and at all subsequent times during the Prospectus Delivery Period, did not and will not contain any untrue statement of
a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. The representations and warranties set forth in the three immediately
preceding sentences do not apply to statements in or omissions from the Registration Statement or any post-effective amendment thereto, or any preliminary prospectus, the Prospectus or the Time of Sale Disclosure Package, or any amendments or
supplements thereto, made in reliance upon and in conformity with information relating to any Underwriter furnished to the Company in writing by the Representatives expressly for use therein, it being understood and agreed that the only such
information furnished by the Representatives to the Company consists of the information described in <U>Section</U><U></U><U>&nbsp;17</U> below. There are no contracts or other documents required to be described in the Time of Sale Disclosure
Package or the Prospectus or to be filed as exhibits to the Registration Statement which have not been described or filed as required. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The
Company is not an &#147;ineligible issuer&#148; in connection with the offering of the Stock pursuant to Rules 164, 405 and 433 under the Securities Act. At the time of the filing of the Registration Statement, at the time of the most recent
amendment thereto for the purpose of complying with Section&nbsp;10(a)(3) of the Securities Act (whether such amendment was by post-effective </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


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amendment, an incorporated report filed pursuant to Section&nbsp;1 or 15(d) of the Exchange Act or form of prospectus), and at the time the Company or any person acting on its behalf (within the
meaning, for this clause only, of Rule 163(c) of the Rules and Regulations) made any offer relating to the Stock in reliance on the exemption of Rule 163 of the Rules and Regulations, the Company was a &#147;well-known seasoned issuer&#148; as
defined in Rule 405 of the Rules and Regulations. Each free writing prospectus that the Company is required to file pursuant to Rule 433(d) under the Securities Act has been, or will be, filed with the Commission in accordance with the requirements
of the Securities Act. Each free writing prospectus that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act or that was prepared by or on behalf of or used or referred to by the Company complies or will
comply in all material respects with the requirements of Rule 433 under the Securities Act including timely filing with the Commission or retention where required and legending, and each such free writing prospectus, as of its issue date and at all
subsequent times through the completion of the public offer and sale of the Stock did not, does not and will not include any information that conflicted, conflicts or will conflict with the information contained in the Registration Statement, the
Prospectus or any preliminary prospectus. Except for the free writing prospectuses, if any, identified in <U>Schedule B</U> hereto, and electronic road shows, if any, furnished to you before first use, the Company has not prepared, used or referred
to, and will not, without your prior consent, prepare, use or refer to, any free writing prospectus. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;<I>Offering Materials Furnished to Underwriters</I>. If so requested by the Representatives, the Company has
delivered to the Representatives one manually signed copy of each of the Registration Statement (including exhibits thereto), each amendment thereto and each consent and certificate of experts filed as a part thereof. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;<I>Distribution of Offering Material By the Company</I>. The Company has not distributed and will not distribute,
prior to the completion of the Underwriters&#146; distribution of the Stock, any offering material in connection with the offering and sale of the Stock other than a preliminary prospectus, the Time of Sale Disclosure Package, the Prospectus, any
free writing prospectus reviewed and consented to by the Representatives, or the Registration Statement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;<I>The
Underwriting Agreement</I>. This Agreement has been duly authorized, executed and delivered by, and is a valid and binding agreement of, the Company, enforceable against the Company in accordance with its terms, except as rights to indemnification
hereunder may be limited by applicable law and except as the enforcement hereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws relating to or affecting the rights and remedies of creditors or by general
equitable principles. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(e)&nbsp;&nbsp;&nbsp;&nbsp;<I>Authorization of the Stock</I>. The Stock has been duly authorized for issuance and
sale pursuant to this Agreement and, when issued and delivered by the Company against payment therefor pursuant to this Agreement, will be validly issued, fully paid and nonassessable, and the issuance and sale of the Stock is not subject to any
preemptive rights, rights of first refusal or other similar rights to subscribe for or purchase the Stock. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(f)&nbsp;&nbsp;&nbsp;&nbsp;<I>No Applicable Registration or Other Similar Rights</I>. There are no persons with registration or other similar
rights to have any equity or debt securities registered for sale under the Registration Statement or included in the offering contemplated by this Agreement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(g)&nbsp;&nbsp;&nbsp;&nbsp;<I>No Material Adverse Change</I>. Except as otherwise disclosed in the Time of Sale Disclosure Package, subsequent
to the respective dates as of which information is given in the Time of Sale Disclosure Package: (i)&nbsp;there has been no material adverse change, or any development that could reasonably be expected to result in a material adverse change, in the
</P>
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condition, financial or otherwise, or in the earnings, business, operations or prospects, whether or not arising from transactions in the ordinary course of business, of the Company and its
subsidiaries, considered as one entity (any such change is called a &#147;<B>Material Adverse Change</B>&#148;); (ii) the Company and its subsidiaries, considered as one entity, have not incurred any material liability or obligation, indirect,
direct or contingent, not in the ordinary course of business nor entered into any material transaction or agreement not in the ordinary course of business; and (iii)&nbsp;there has been no dividend or distribution of any kind declared, paid or made
by the Company or, except for dividends paid to the Company or other subsidiaries, its subsidiaries on any class of capital stock or repurchase or redemption by the Company or its subsidiaries of any class of capital stock. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(h)&nbsp;&nbsp;&nbsp;&nbsp;<I>Independent Accountants</I>. Ernst&nbsp;&amp; Young LLP, who have expressed their opinion with respect to the
financial statements (which term as used in this Agreement includes the related notes thereto) filed with the Commission and incorporated by reference into the Registration Statement, the Preliminary Prospectus, the Prospectus and Time of Sale
Disclosure Package (each, an &#147;<B>Applicable Prospectus</B>&#148; and collectively, the &#147;<B>Applicable Prospectuses</B>&#148;), are (i)&nbsp;independent registered public accountants as required by the Securities Act and the Exchange Act,
(ii)&nbsp;in compliance with the applicable requirements relating to the qualification of accountants under Rule <FONT STYLE="white-space:nowrap">2-01</FONT> of Regulation <FONT STYLE="white-space:nowrap">S-X</FONT> under the Securities Act and
(iii)&nbsp;a registered public accounting firm as defined by the Public Company Accounting Oversight Board (&#147;<B>PCAOB</B>&#148;) whose registration has not been suspended or revoked and, to the Company&#146;s knowledge, who has not requested
such registration to be withdrawn. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;<I>Preparation of the Financial Statements and Data</I>. The financial
statements filed with the Commission and incorporated by reference into the Registration Statement, the Preliminary Prospectus, the Time of Sale Disclosure Package and the Prospectus present fairly the consolidated financial position of the Company
and its subsidiaries as of and at the dates indicated and the results of their operations, stockholders&#146; equity and cash flows for the periods specified. Such financial statements have been prepared in conformity with generally accepted
accounting principles in the United States applied on a consistent basis throughout the periods involved, except as may be expressly stated in the related notes thereto. No other financial statements or supporting schedules are required to be
included in the Registration Statement or any Applicable Prospectus. The financial data set forth in each Applicable Prospectus fairly present the information set forth therein on a basis consistent with that of the audited financial statements
incorporated by reference in the Registration Statement and each Applicable Prospectus. The financial data set forth in the Registration Statement and the Base Prospectus under the caption &#147;Ratio of Earnings to Fixed Charges and Ratio of
Combined Fixed Charges and Preferred Stock Dividends to Earnings&#148; and in Exhibit 12.1 to the Registration Statement under the caption &#147;Statement of Computation of Ratio of Earnings to Fixed Charges&#148; have been calculated in compliance
with Item 503(d) of Regulation <FONT STYLE="white-space:nowrap">S-K</FONT> under the Securities Act. To the Company&#146;s knowledge, no person who has been suspended or barred from being associated with a registered public accounting firm, or who
has failed to comply with any sanction pursuant to Rule 5300 promulgated by the PCAOB, has participated in or otherwise aided the preparation of, or audited, the financial statements, supporting schedules or other financial data filed with the
Commission as a part of the Registration Statement and included in any Applicable Prospectus. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(j)&nbsp;&nbsp;&nbsp;&nbsp;<I>Company</I><I>&#146;</I><I>s Accounting System</I>. The Company and its subsidiaries make and keep accurate books
and records and maintain a system of internal accounting controls sufficient to provide reasonable assurance that (i)&nbsp;transactions are executed in accordance with management&#146;s general or specific authorization; (ii)&nbsp;transactions are
recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles as applied in the United States and to maintain accountability for assets; (iii)&nbsp;access to assets is permitted only
</P>
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in accordance with management&#146;s general or specific authorization; and (iv)&nbsp;the recorded accountability for assets is compared with existing assets at reasonable intervals and
appropriate action is taken with respect to any differences. The Company is unaware of any material weakness in the Company&#146;s internal control over financial reporting (whether or not remediated) as of December&nbsp;31, 2016 or at any time
since such date; since December&nbsp;31, 2016, there has been no change in the Company&#146;s internal control over financial reporting that has materially affected, or is reasonably likely to materially affect, the Company&#146;s internal control
over financial reporting. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(k)&nbsp;&nbsp;&nbsp;&nbsp;<I>Incorporation and Good Standing of the Company and its Subsidiaries</I>. Each of
the Company and each of its subsidiaries has been duly incorporated or organized, as the case may be, and is validly existing as a corporation or other entity, as applicable, in good standing under the laws of the jurisdiction of its incorporation
or organization and has the power and authority (corporate or other) to own, lease and operate its properties and to conduct its business as described in each Applicable Prospectus and, in the case of the Company, to enter into and perform its
obligations under this Agreement, except where the failure to be in good standing would not reasonably be expected, individually or in the aggregate, to result in a Material Adverse Change. Each of the Company and each of its subsidiaries is duly
qualified as a foreign corporation or other entity, as applicable, to transact business and is in good standing in each jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of
business, except where the failure to be so qualified or in good standing would not reasonably be expected, individually or in the aggregate, to result in a Material Adverse Change. Except as otherwise disclosed in the Time of Sale Disclosure
Package or the Applicable Prospectus, all of the issued and outstanding capital stock or other equity or ownership interests of each of the Company&#146;s subsidiaries have been duly authorized and validly issued, are fully paid and nonassessable
and are owned by the Company (directly or through the Company&#146;s other subsidiaries) free and clear of any security interest, mortgage, pledge, lien, encumbrance or adverse claim. The Company does not own or control, directly or indirectly, any
corporation, association or other entity, and the Company does not have any &#147;subsidiary&#148; (as defined in Rule 405 under the Securities Act), other than Dynavax GmbH. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(l)&nbsp;&nbsp;&nbsp;&nbsp;<I>Capitalization and Other Capital Stock Matters</I>. The authorized, issued and outstanding capital stock of the
Company is as set forth in each Applicable Prospectus (other than for subsequent issuances, if any, pursuant to employee benefit plans described in the Time of Sale Disclosure Package or upon the exercise of outstanding options or warrants described
in each Applicable Prospectus). The Common Stock (including the Stock) conform in all material respects to the description thereof contained in the Time of Sale Disclosure Package. All of the issued and outstanding shares of Common Stock have been
duly authorized and validly issued, are fully paid and nonassessable and have been issued in compliance with federal and state securities laws. None of the outstanding shares of Common Stock was issued in violation of any preemptive rights, rights
of first refusal or other similar rights to subscribe for or purchase securities of the Company. There are no authorized or outstanding options, warrants, preemptive rights, rights of first refusal or other rights to purchase, or equity or debt
securities convertible into or exchangeable or exercisable for, any capital stock of the Company or its subsidiaries other than those accurately described in each Applicable Prospectus. The description of the Company&#146;s stock option, stock bonus
and other stock plans or arrangements, and the options or other rights granted thereunder, set forth in each Applicable Prospectus accurately and fairly presents the information required to be shown with respect to such plans, arrangements, options
and rights. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(m)&nbsp;&nbsp;&nbsp;&nbsp;<I>Stock Exchange Listing</I>. The Common Stock is registered pursuant to Section&nbsp;12(b) of the
Exchange Act and is listed on The NASDAQ Capital Market, and the Company has taken no action designed to, or likely to have the effect of, terminating the registration of the Common </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
Stock under the Exchange Act or delisting the Common Stock from The NASDAQ Capital Market, nor has the Company received any notification that the Commission or The NASDAQ Capital Market is
contemplating terminating such registration or listing. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(n)&nbsp;&nbsp;&nbsp;&nbsp;<I><FONT STYLE="white-space:nowrap">Non-Contravention</FONT> of Existing Instruments; No Further Authorizations or
Approvals Required</I>. Neither the Company nor any of its subsidiaries is in violation of its charter or <FONT STYLE="white-space:nowrap">by-laws,</FONT> or similar organizational documents, as applicable, or is in default (or, with the giving of
notice or lapse of time, would be in default) (&#147;<B>Default</B>&#148;) under any indenture, mortgage, loan or credit agreement, note, contract or other agreement, franchise, lease or other instrument to which the Company or any of its
subsidiaries is a party or by which either of them may be bound (including, without limitation, any credit agreement, indenture, pledge agreement, security agreement or other instrument or agreement evidencing, guaranteeing, securing or relating to
indebtedness of the Company or any of its subsidiaries), or to which any of the property or assets of the Company or any of its subsidiaries is subject (each, an &#147;<B>Existing Instrument</B>&#148;), except for such Defaults as would not
reasonably be expected, individually or in the aggregate, to result in a Material Adverse Change. The Company&#146;s execution, delivery and performance of this Agreement, consummation of the transactions contemplated hereby and by each Applicable
Prospectus and the issuance and sale of the Stock (i)&nbsp;have been duly authorized by all necessary corporate action and will not result in any violation of the provisions of the charter or <FONT STYLE="white-space:nowrap">by-laws,</FONT> or
similar organizational documents, as applicable, of the Company or any of its subsidiaries, (ii)&nbsp;will not conflict with or constitute a breach of, or Default or a Debt Repayment Triggering Event (as defined below) under, or result in the
creation or imposition of any lien, charge or encumbrance upon any property or assets of the Company or any of its subsidiaries pursuant to, or require the consent of any other party to, any Existing Instrument and (iii)&nbsp;will not result in any
violation of any law, administrative regulation or administrative or court decree applicable to the Company or any of its subsidiaries, except, in the case of clauses (ii)&nbsp;and (iii), for such breaches, Defaults, results or violations as would
not reasonably be expected, individually or in the aggregate, to result in a Material Adverse Change. No consent, approval, authorization or other order of, or registration or filing with, any court or other governmental or regulatory authority or
agency, is required for the Company&#146;s execution, delivery and performance of this Agreement and consummation of the transactions contemplated hereby and by each Applicable Prospectus, except such as have been obtained or made or will be made by
the Company under the Securities Act or that may be required under applicable state securities or blue sky laws and from the Financial Industry Regulatory Authority, Inc. (&#147;<B>FINRA</B>&#148;). As used herein, a &#147;<B>Debt Repayment
Triggering Event</B>&#148; means any event or condition which gives, or with the giving of notice or lapse of time would give, the holder of any note, debenture or other evidence of indebtedness (or any person acting on such holder&#146;s behalf)
the right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of its subsidiaries. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(o)&nbsp;&nbsp;&nbsp;&nbsp;<I>No Material Actions or Proceedings</I>. Except as otherwise disclosed in the Time of Sale Disclosure Package,
there are no legal or governmental actions, suits or proceedings pending or, to the Company&#146;s knowledge, threatened (i)&nbsp;against or affecting the Company or any of its subsidiaries, (ii)&nbsp;which have as the subject thereof any officer or
director of, or property owned or leased by, the Company or any of its subsidiaries or (iii)&nbsp;relating to environmental or discrimination matters, where in any such case (A)&nbsp;there is (in the case of pending actions, suits or proceedings, to
the Company&#146;s knowledge) a substantial likelihood that such action, suit or proceeding will be determined adversely to the Company, any of its subsidiaries or such officer or director, (B)&nbsp;any such action, suit or proceeding, if so
determined adversely, would reasonably be expected to result in a Material Adverse Change or adversely affect the consummation of the transactions contemplated by this Agreement or (C)&nbsp;any such action, suit or proceeding is or would be material
in the context of the sale of shares of Common Stock. No material labor dispute with the employees of the Company or any of its subsidiaries, or, to the Company&#146;s </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


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knowledge, with the employees of any principal supplier, manufacturer, customer or contractor of the Company, exists or (in the case of labor disputes with the employees of the Company or any of
its subsidiaries, to the Company&#146;s knowledge) is threatened or imminent. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(p)&nbsp;&nbsp;&nbsp;&nbsp;<I>Intellectual Property
Rights</I>. Except as otherwise disclosed in the each Applicable Prospectus, the Company and each of its subsidiaries own or possess (or can acquire on reasonable terms) sufficient trademarks, trade names, patent rights, copyrights, domain names,
licenses, approvals, trade secrets and other similar rights (collectively, &#147;<B>Intellectual Property Rights</B>&#148;) reasonably necessary to conduct their businesses as now conducted, except to the extent the failure to own, possess or
acquire on reasonable terms would not reasonably be expected, individually or in the aggregate, to result in a Material Adverse Change. Except as would not reasonably be expected, individually or in the aggregate, to result in a Material Adverse
Change, and except as disclosed in each Applicable Prospectus, (i)&nbsp;there are no third parties who have or, to the Company&#146;s knowledge, will be able to establish rights to any Intellectual Property Rights; (ii)&nbsp;to the Company&#146;s
knowledge, there is no infringement by third parties of any Intellectual Property Rights; (iii)&nbsp;there is no pending or, to the Company&#146;s knowledge, threatened action, suit, proceeding or claim by others challenging the Company&#146;s
rights in or to any Intellectual Property Rights, and the Company is unaware of any facts that would form a reasonable basis for any such action, suit, proceeding or claim; (iv)&nbsp;there is no pending or, to the Company&#146;s knowledge,
threatened action, suit, proceeding or claim by others challenging the validity, enforceability or scope of any Intellectual Property Rights, and the Company is unaware of any facts that would form a reasonable basis for any such action, suit,
proceeding or claim; and (v)&nbsp;there is no pending or, to the Company&#146;s knowledge, threatened action, suit, proceeding or claim by others that the Company or any of its subsidiaries infringes or otherwise violates, or would, upon the
commercialization of products or services described in the Registration Statement, the Time of Sale Disclosure Package and the Prospectus as under development and as currently configured, infringe or violate, any currently issued patent, trademark,
tradename, service name, copyright, trade secret or other proprietary rights of others, and the Company is unaware of any facts that would form a reasonable basis for any such action, suit, proceeding or claim. None of the technology employed by the
Company or any of its subsidiaries has been obtained or is being used by the Company or any of its subsidiaries in violation of any contractual obligation binding on the Company or any of its subsidiaries or, to the Company&#146;s knowledge, any of
its or its subsidiaries&#146; officers, directors or employees or otherwise in violation of the rights of any persons, except in each case for such violations as would not reasonably be expected, individually or in the aggregate, to result in a
Material Adverse Change. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(q)&nbsp;&nbsp;&nbsp;&nbsp;<I>Clinical Trials</I>. The clinical and
<FONT STYLE="white-space:nowrap">pre-clinical</FONT> trials conducted by or on behalf of or sponsored by the Company or its subsidiaries, or in which the Company or its subsidiaries have participated, that are described in the Time of Sale
Disclosure Package or the results of which are referred to in the Time of Sale Disclosure Package, as applicable, and are intended to be submitted to Regulatory Authorities as a basis for product approval, were and, if still pending, are being
conducted by the Company or, to the knowledge of the Company on behalf of the Company, in all material respects in accordance with the medical and scientific research procedures described in the applicable trial protocols and all applicable
statutes, rules and regulations of the United States Food and Drug Administration and comparable drug regulatory agencies outside of the United States to which they are subject (collectively, the &#147;<B>Regulatory Authorities</B>&#148;),
including, without limitation, 21 C.F.R. Parts 50, 54, 56, 58, and 312. The descriptions in the Time of Sale Disclosure Package of the results of such studies and tests are accurate and complete in all material respects and fairly present the data
derived from such trials. The Company has no knowledge of any other clinical trials the results of which reasonably call into question the results described or referred to in the Time of Sale Disclosure Package. The Company and its subsidiaries have
operated and are currently in compliance with all applicable statutes, rules and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


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regulations of the Regulatory Authorities, except as would not reasonably be expected to have a Material Adverse Effect. In the last two years, neither the Company nor any of its subsidiaries has
received any written notices, correspondence or other written communication from the Regulatory Authorities or any other governmental agency requiring or threatening the premature termination or suspension of any clinical or <FONT
STYLE="white-space:nowrap">pre-clinical</FONT> trials that are described in the Time of Sale Disclosure Package or the results of which are referred to in the Time of Sale Disclosure Package, and, to the Company&#146;s knowledge, there are no
reasonable grounds for same. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(r)&nbsp;&nbsp;&nbsp;&nbsp;<I>All Necessary Permits, Etc</I>. The Company and each of its subsidiaries
possess such valid and current certificates, authorizations or permits issued by the appropriate state, federal or foreign regulatory agencies or bodies necessary to conduct their respective businesses as currently conducted by them and described in
the Time of Sale Disclosure Package; and neither the Company nor any of its subsidiaries has received, or has any reason to believe that it will receive, any notice of proceedings relating to the revocation or modification of, or <FONT
STYLE="white-space:nowrap">non-compliance</FONT> with, any such certificate, authorization or permit which, individually or in the aggregate, if the subject of an unfavorable decision, ruling or finding, would reasonably be expected to result in a
Material Adverse Change. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(s)&nbsp;&nbsp;&nbsp;&nbsp;<I>Title to Properties</I>. Except as otherwise disclosed in the Time of Sale
Disclosure Package, the Company and each of its subsidiaries have good and marketable title to all of the real and personal property and other assets reflected as owned in the financial statements referred to in
<U>Section</U><U></U><U>&nbsp;2(h)</U> above (or elsewhere in any Applicable Prospectus), in each case that are material to the business of the Company and its subsidiaries taken as a whole and in each case free and clear of any security interests,
mortgages, liens, encumbrances, equities, adverse claims and other defects, except such as do not materially and adversely affect the value of such property and assets and do not materially interfere with the use made or proposed to be made of such
property and assets by the Company or any of its subsidiaries. To the Company&#146;s knowledge, the real property, improvements, equipment and personal property held under lease by the Company or any of its subsidiaries are held under valid and
enforceable leases, with such exceptions as are not material and do not materially interfere with the use made or proposed to be made of such real property, improvements, equipment or personal property by the Company or any of its subsidiaries. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(t)&nbsp;&nbsp;&nbsp;&nbsp;<I>Tax Law Compliance</I>. The Company and its consolidated subsidiaries have filed all necessary federal, state and
foreign income and franchise tax returns (or have properly requested extensions thereof) and have paid all taxes required to be paid by any of them and, if due and payable, any related or similar assessment, fine or penalty levied against any of
them except as may be being contested in good faith and by appropriate proceedings. The Company has made adequate charges, accruals and reserves in the applicable financial statements referred to in <U>Section</U><U></U><U>&nbsp;2(h)</U> above in
respect of all federal, state and foreign income and franchise taxes for all periods as to which the tax liability of the Company or its consolidated subsidiaries has not been finally determined. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(u)&nbsp;&nbsp;&nbsp;&nbsp;<I>Company Not an &#147;Investment Company&#148;</I>. The Company is not, and will not, either after receipt of
payment for the Stock or after the application of the proceeds therefrom as described under &#147;Use of Proceeds&#148; in each Applicable Prospectus, be, required to register as an &#147;investment company&#148; or an entity &#147;controlled&#148;
by an &#147;investment company&#148; under the Investment Company Act of 1940, as amended (the &#147;<B>Investment Company Act</B>&#148;), and will, during the Prospectus Delivery Period, conduct its business in a manner so that it will not become
subject to the Investment Company Act. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(v)&nbsp;&nbsp;&nbsp;&nbsp;<I>Insurance</I>. Except as otherwise disclosed in the Time of Sale
Disclosure Package, each of the Company and each of its subsidiaries is insured by recognized, financially sound and reputable institutions with policies in such amounts and with such deductibles and covering such risks as are reasonably adequate
and customary for their businesses as currently conducted and described in the Time of Sale Disclosure Package, including, but not limited to, policies covering real and personal property owned or leased by the Company and its subsidiaries against
theft, damage, destruction and acts of vandalism and policies covering the Company and its subsidiaries for product liability claims and clinical trial liability claims. The Company has no reason to believe that it or its subsidiaries will not be
able (i)&nbsp;to renew its existing insurance coverage as and when such policies expire or (ii)&nbsp;to obtain comparable coverage from similar institutions as may be necessary or appropriate to conduct its business as now conducted and at a cost
that would not result in a Material Adverse Change. During the past three years, neither of the Company nor any of its subsidiaries has been denied any insurance coverage material to the Company or such subsidiary, respectively, which it has sought
or for which it has applied. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(w)&nbsp;&nbsp;&nbsp;&nbsp;<I>No Price Stabilization or Manipulation; Compliance with Regulation M</I>. The
Company has not taken, directly or indirectly, any action designed to or that might be reasonably expected to cause or result in stabilization or manipulation of the price of the Common Stock or any other &#147;reference security&#148; (as defined
in Rule 100 of Regulation M under the Exchange Act (&#147;<B>Regulation M</B>&#148;)) whether to facilitate the sale or resale of the Stock or otherwise, and has taken no action which would directly or indirectly violate Regulation M. The Company
acknowledges that the Underwriters may engage in passive market making transactions in the Stock on The NASDAQ Capital Market in accordance with Regulation M. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(x)&nbsp;&nbsp;&nbsp;&nbsp;<I>Related Party Transactions</I>. There are no business relationships or related-party transactions involving the
Company or any of its subsidiaries or any other person required to be described in any Applicable Prospectus which have not been described as required. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(y)&nbsp;&nbsp;&nbsp;&nbsp;<I><FONT STYLE="white-space:nowrap">S-3</FONT> Eligibility</I>. At the time the Registration Statement was
originally declared effective, the Company met the then applicable requirements for use of Form <FONT STYLE="white-space:nowrap">S-3</FONT> under the Securities Act (without reliance on General Instruction I.B.6 of Form <FONT
STYLE="white-space:nowrap">S-3).</FONT> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(z)&nbsp;&nbsp;&nbsp;&nbsp;<I>Exchange Act Compliance</I>. The documents incorporated or deemed to
be incorporated by reference in the Prospectus, at the time they were or hereafter are filed with the Commission, complied and will comply in all material respects with the requirements of the Exchange Act, and, when read together with the other
information in the Prospectus, at the time the Registration Statement and any amendments thereto became effective and at the Closing Date, will not contain an untrue statement of a material fact or omit to state a material fact required to be stated
therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(aa)&nbsp;&nbsp;&nbsp;&nbsp;<I>FINRA Matters</I>. All of the information provided to the Underwriters or to counsel for the Underwriters by the
Company, its officers and directors and, to the Company&#146;s knowledge, the holders of any securities (debt or equity) or options to acquire any securities of the Company in connection with letters, filings or other supplemental information
provided to FINRA pursuant to FINRA Rule 5110 or Conduct Rule 2720 of the National Association of Securities Dealers, Inc. (the &#147;<B>NASD</B>&#148;), is true, complete and correct. In accordance with FINRA Conduct Rule 5110(b)(7)(C)(i), the
Stock has been registered with the Commission on Form <FONT STYLE="white-space:nowrap">S-3</FONT> under the Securities Act pursuant to the standards for such Form <FONT STYLE="white-space:nowrap">S-3</FONT> in effect prior to October&nbsp;21, 1992.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(bb)&nbsp;&nbsp;&nbsp;&nbsp;<I>Parties to <FONT STYLE="white-space:nowrap">Lock-Up</FONT> Agreements</I>. Each of the Company&#146;s
directors and executive officers has executed and delivered to the Representatives a <FONT STYLE="white-space:nowrap">lock-up</FONT> agreement in the form of <U>Exhibit I</U> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>


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hereto. <U>Schedule D</U> hereto contains a true, complete and correct list of all directors and executive officers of the Company. If any additional persons shall become directors or executive
officers of the Company prior to the end of the Company <FONT STYLE="white-space:nowrap">Lock-up</FONT> Period (as defined below), the Company shall cause each such person, prior to or contemporaneously with their appointment or election as a
director or executive officer of the Company, to execute and deliver to the Representatives an agreement in the form attached hereto as <U>Exhibit I</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(cc)&nbsp;&nbsp;&nbsp;&nbsp;<I>Statistical and Market-Related Data</I>. The statistical, demographic and market-related data included in the
Registration Statement and each Applicable Prospectus are based on or derived from sources that the Company believes to be reliable and accurate or represent the Company&#146;s good faith estimates that are made on the basis of data derived from
such sources. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(dd)&nbsp;&nbsp;&nbsp;&nbsp;<I>No Unlawful Contributions or Other Payments</I>. Neither the Company nor any of its
subsidiaries nor, to the Company&#146;s knowledge, any employee or agent of the Company or any of its subsidiaries, has made any contribution or other payment to any official of, or candidate for, any federal, state or foreign office in violation of
any law or of the character required to be disclosed in the Registration Statement and each Applicable Prospectus. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(ee)&nbsp;&nbsp;&nbsp;&nbsp;<I>Disclosure Controls and Procedures; Deficiencies in or Changes to Internal Control Over Financial Reporting</I>.
The Company has established and maintains disclosure controls and procedures (as defined in Rules <FONT STYLE="white-space:nowrap">13a-15(e)</FONT> and <FONT STYLE="white-space:nowrap">15d-15(e)</FONT> under the Exchange Act), which (i)&nbsp;are
designed to ensure that material information relating to the Company, including its consolidated subsidiaries, is made known to the Company&#146;s principal executive officer and its principal financial officer by others within those entities,
particularly during the periods in which the periodic reports required under the Exchange Act are being prepared; (ii)&nbsp;have been evaluated by management of the Company for effectiveness as of the end of the Company&#146;s most recent fiscal
quarter; and (iii)&nbsp;the Company&#146;s principal executive officer and principal financial officer have concluded to be effective at the reasonable assurance level. Based on the most recent evaluation of its disclosure controls and procedures
(in accordance with Rule <FONT STYLE="white-space:nowrap">13a-15(b)),</FONT> the Company is not aware of (x)&nbsp;any material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to
adversely affect the Company&#146;s ability to record, process, summarize and report financial information or (y)&nbsp;any fraud, whether or not material, that involves management or other employees who have a significant role in the Company&#146;s
internal control over financial reporting. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(ff)&nbsp;&nbsp;&nbsp;&nbsp;<I>Compliance with Environmental Laws</I>. Except as described in
each Applicable Prospectus and except as would not reasonably be expected, individually or in the aggregate, to result in a Material Adverse Change, (i)&nbsp;neither the Company nor any of its subsidiaries is in violation of any federal, state,
local or foreign statute, law, rule, regulation, ordinance, code, policy or rule of common law or any judicial or administrative interpretation thereof, including any judicial or administrative order, consent, decree or judgment, relating to
pollution or protection of human health, the environment (including, without limitation, ambient air, surface water, groundwater, land surface or subsurface strata) or wildlife, including, without limitation, laws and regulations relating to the
release or threatened release of chemicals, pollutants, contaminants, wastes, toxic substances, hazardous substances, petroleum or petroleum products (collectively, &#147;<B>Hazardous Materials</B>&#148;) or to the manufacture, processing,
distribution, use, treatment, storage, disposal, transport or handling of Hazardous Materials (collectively, &#147;<B>Environmental Laws</B>&#148;), (ii) the Company and its subsidiaries have all permits, authorizations and approvals required under
any applicable Environmental Laws and are each in compliance with their requirements, (iii)&nbsp;there are no pending or threatened administrative, regulatory or judicial actions, suits, demands, demand letters, claims, liens, notices of
noncompliance or violation, investigation or proceedings relating to any Environmental Law against the Company </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>


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or any of its subsidiaries and (iv)&nbsp;there are, to the Company&#146;s knowledge, no events or circumstances that might reasonably be expected to form the basis of an order for <FONT
STYLE="white-space:nowrap">clean-up</FONT> or remediation, or an action, suit or proceeding by any private party or governmental body or agency, against or affecting the Company or any of its subsidiaries relating to Hazardous Materials or any
Environmental Laws. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(gg)&nbsp;&nbsp;&nbsp;&nbsp;<I>ERISA Compliance</I>. The Company and its subsidiaries and any &#147;employee benefit
plan&#148; (as defined under the Employee Retirement Income Security Act of 1974, as amended, and the regulations and published interpretations thereunder (collectively, &#147;<B>ERISA</B>&#148;)) established or maintained by the Company, and of its
subsidiaries or their ERISA Affiliates (as defined below) are in compliance in all material respects with ERISA. &#147;<B>ERISA Affiliate</B>&#148; means, with respect to the Company or any of its subsidiaries, any member of any group of
organizations described in Sections 414(b),(c),(m) or (o)&nbsp;of the Internal Revenue Code of 1986, as amended, and the regulations and published interpretations thereunder (the &#147;<B>Code</B>&#148;) of which the Company or any of its
subsidiaries is a member. No &#147;reportable event&#148; (as defined under ERISA) has occurred or is reasonably expected to occur with respect to any &#147;employee benefit plan&#148; established or maintained by the Company, any of its
subsidiaries or any of their ERISA Affiliates. No &#147;employee benefit plan&#148; established or maintained by the Company, any of its subsidiaries or any of their ERISA Affiliates, if such &#147;employee benefit plan&#148; were terminated, would
have any &#147;amount of unfunded benefit liabilities&#148; (as defined under ERISA). Neither the Company nor any of its subsidiaries nor any of their ERISA Affiliates has incurred or reasonably expects to incur any liability under (i)&nbsp;Title IV
of ERISA with respect to termination of, or withdrawal from, any &#147;employee benefit plan&#148; or (ii)&nbsp;Sections 412, 4971, 4975 or 4980B of the Code. Each &#147;employee benefit plan&#148; established or maintained by the Company, any of
its subsidiaries or any of their ERISA Affiliates that is intended to be qualified under Section&nbsp;401(a) of the Code is so qualified and nothing has occurred, whether by action or failure to act, which would reasonably be expected to result in
the loss of such qualification. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(hh)&nbsp;&nbsp;&nbsp;&nbsp;<I>Brokers</I>. Except as contemplated by this Agreement, there is no broker,
finder or other party that is entitled to receive from the Company any brokerage or finder&#146;s fee or other fee or commission as a result of any transactions contemplated by this Agreement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(ii)&nbsp;&nbsp;&nbsp;&nbsp;<I>No Outstanding Loans or Other Extensions of Credit</I>.&nbsp;&nbsp;&nbsp;&nbsp;Since the adoption of
Section&nbsp;13(k) of the Exchange Act, neither the Company nor any of its subsidiaries has extended or maintained credit, arranged for the extension of credit, or renewed any extension of credit, in the form of a personal loan, to or for any
director or executive officer (or equivalent thereof) of the Company or any of its subsidiaries except for such extensions of credit as are expressly permitted by Section&nbsp;13(k) of the Exchange Act. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(jj)&nbsp;&nbsp;&nbsp;&nbsp;<I>Dividend Restrictions</I>. None of the subsidiaries of the Company is currently prohibited or restricted,
directly or indirectly, from paying dividends to the Company, or from making any other distribution with respect to such subsidiary&#146;s equity securities or from repaying to the Company or any other subsidiary any amounts that may from time to
time become due under any loans or advances to such subsidiary from the Company or from transferring any property or assets to the Company or any other subsidiary. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(kk)&nbsp;&nbsp;&nbsp;&nbsp;<I>Foreign Corrupt Practices Act</I>. Neither the Company nor any of its subsidiaries nor, to the knowledge of the
Company, any director, officer, employee, agent, affiliate or other person acting on behalf of the Company or any subsidiary, has (i)&nbsp;used any corporate funds for unlawful contributions, gifts, entertainment or other unlawful expenses relating
to political activity, (ii)&nbsp;made any direct or indirect unlawful payment to foreign or domestic government officials or employees, political parties or campaigns, political party officials, or candidates for political
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">12 </P>


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office from corporate funds, (iii)&nbsp;violated or is in violation of any provision of the U.S. Foreign Corrupt Practices Act of 1977, as amended, or any applicable anti-corruption laws, rules,
or regulation of any other jurisdiction in which the Company or any subsidiary conducts business, or (iv)&nbsp;made any other unlawful bribe, rebate, payoff, influence payment, kickback, or other unlawful payment to any person. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(ll)&nbsp;&nbsp;&nbsp;&nbsp;<I>Money Laundering Laws</I>. The operations of the Company and its subsidiaries are, and have been conducted at
all times, in compliance with applicable financial recordkeeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the money laundering statutes of all applicable jurisdictions, the rules and
regulations thereunder and any related or similar applicable rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, the &#147;<B>Money Laundering Laws</B>&#148;) and no action, suit or proceeding
by or before any court or governmental agency, authority or body or any arbitrator involving the Company or any of its subsidiaries with respect to the Money Laundering Laws is pending or, to the Company&#146;s knowledge, threatened. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(mm)&nbsp;&nbsp;&nbsp;&nbsp;<I>OFAC</I>. (A)&nbsp;Neither the Company nor any of its subsidiaries, nor any director, officer or employee
thereof, nor, to the knowledge of the Company, any agent, affiliate, representative or other person acting on behalf of the Company or any of its subsidiaries, is an individual or entity (&#147;<B>Person</B>&#148;) that is, or is owned or controlled
by a Person that is: (i)&nbsp;the subject of any sanctions administered or enforced by the U.S. Department of Treasury&#146;s Office of Foreign Assets Control (&#147;<B>OFAC</B>&#148;), the United Nations Security Council (&#147;<B>UNSC</B>&#148;),
the European Union (&#147;<B>EU</B>&#148;), Her Majesty&#146;s Treasury (&#147;<B>HMT</B>&#148;), or other relevant sanctions authority (collectively, &#147;<B>Sanctions</B>&#148;), nor (ii)&nbsp;located, organized or resident in a country or
territory that is the subject of a U.S. government embargo (including, without limitation, Cuba, Iran, North Korea, Sudan, Syria and the Crimea). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B)&nbsp;&nbsp;&nbsp;&nbsp;The Company will not, directly or indirectly, use the proceeds of the offering, or lend, contribute
or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person: (i)&nbsp;to fund or facilitate any activities or business of or with any Person that, at the time of such funding or facilitation, is the subject of
Sanctions, or in any country or territory that, at the time of such funding or facilitation, is the subject of a U.S. government embargo; or (ii)&nbsp;in any other manner that will result in a violation of Sanctions by any Person (including any
Person participating in the offering, whether as underwriter, advisor, investor or otherwise). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C)&nbsp;&nbsp;&nbsp;&nbsp;For the past five (5)&nbsp;years, the Company and its subsidiaries have not knowingly engaged in,
are not now knowingly engaged in, and will not engage in, any direct or indirect dealings or transactions with any Person that at the time of the dealing or transaction is or was the subject of Sanctions or any country or territory that, at the time
of the dealing or transaction is or was the subject of a U.S. government embargo. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">3.&nbsp;&nbsp;&nbsp;&nbsp;<I>P<SMALL>URCHASE</SMALL>,
S<SMALL>ALE</SMALL> <SMALL>AND</SMALL> D<SMALL>ELIVERY</SMALL> <SMALL>OF</SMALL> O<SMALL>FFERED</SMALL> S<SMALL>ECURITIES</SMALL></I><SMALL></SMALL>. On the basis of the representations, warranties and agreements herein contained, but subject to the
terms and conditions herein set forth, the Company agrees to sell to the Underwriters, and the Underwriters agree, severally and not jointly, to purchase from the Company the respective numbers of shares of Firm Stock set forth opposite the names of
the Underwriters in <U>Schedule A</U> hereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The purchase price per share to be paid by the Underwriters to the Company for the Stock
will be $14.10 per share (the &#147;<B>Purchase</B><B><I> </I></B><B>Price</B>&#148;). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">13 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company will deliver the Firm Stock to the Representatives for the respective accounts of the
several Underwriters, through the facilities of The Depository Trust Company, issued in such names and in such denominations as the Representatives may direct by notice in writing to the Company given at or prior to 12:00 Noon, New York time, on the
second (2<SUP STYLE="font-size:85%; vertical-align:top">nd</SUP>) full business day preceding the Closing Date against payment of the aggregate Purchase Price therefor by wire transfer in federal (same day) funds to an account at a bank specified by
the Company payable to the order of the Company for the Firm Stock sold by them all at the offices of Goodwin Procter LLP, 620 Eighth Avenue, New York, NY 10018. Time shall be of the essence, and delivery at the time and place specified pursuant to
this Agreement is a further condition of the obligations of each Underwriter hereunder. The time and date of the delivery and closing shall be at 9:00 A.M., New York time, on August&nbsp;15, 2017, in accordance with Rule <FONT
STYLE="white-space:nowrap">15c6-1</FONT> of the Exchange Act. The time and date of such payment and delivery are herein referred to as the &#147;<B>Closing Date</B>&#148;. The Closing Date and the location of delivery of, and the form of payment
for, the Firm Stock may be varied by agreement between the Company and the Representatives. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For the purpose of covering any <FONT
STYLE="white-space:nowrap">over-allotments</FONT> in connection with the distribution and sale of the Firm Stock as contemplated by the Prospectus, the Underwriters may purchase all or less than all of the Optional Stock. The price per share to be
paid for the Optional Stock shall be the Purchase Price. The Company agrees to sell to the Underwriters the number of shares of Optional Stock specified in the written notice delivered by the Representatives to the Company described below and the
Underwriters agree, severally and not jointly, to purchase such shares of Optional Stock. Such shares of Optional Stock shall be purchased from the Company for the account of each Underwriter in the same proportion as the number of shares of Firm
Stock set forth opposite such Underwriter&#146;s name on <U>Schedule A</U> bears to the total number of shares of Firm Stock (subject to adjustment by the Representatives to eliminate fractions). The option granted hereby may be exercised as to all
or any part of the Optional Stock at any time, and from time to time, not more than thirty (30)&nbsp;days subsequent to the date of this Agreement. No Optional Stock shall be sold and delivered unless the Firm Stock previously has been, or
simultaneously is, sold and delivered. The right to purchase the Optional Stock or any portion thereof may be surrendered and terminated at any time upon notice by Representatives to the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The option granted hereby may be exercised by written notice being given to the Company by the Representatives setting forth the number of
shares of the Optional Stock to be purchased by the Underwriters and the date and time for delivery of and payment for the Optional Stock. Each date and time for delivery of and payment for the Optional Stock (which may be the Closing Date, but not
earlier) is herein called the &#147;<B>Option Closing Date</B>&#148; and shall in no event be earlier than two (2)&nbsp;business days nor later than five (5)&nbsp;business days after written notice is given. The Option Closing Date and the Closing
Date are herein called the &#147;<B>Closing Dates</B>.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company will deliver the Optional Stock to the Representatives for the
respective accounts of the several Underwriters through the facilities of The Depository Trust Company, issued in such names and in such denominations as the Representatives may direct by notice in writing to the Company given at or prior to 12:00
Noon, New York time, on the second (2<SUP STYLE="font-size:85%; vertical-align:top">nd</SUP>) full business day preceding the Option Closing Date against payment of the aggregate Purchase Price therefor by wire transfer in federal (same day) funds
to an account at a bank specified by the Company payable to the order of the Company for the Optional Stock sold by them, all at the offices of Goodwin Procter LLP, 620 Eighth Avenue, New York, NY 10018. Time shall be of the essence, and delivery at
the time and place specified pursuant to this Agreement is a further condition of the obligations of each Underwriter hereunder. The Option Closing Date and the location of delivery of, and the form of payment for, the Optional Stock may be varied
by agreement between the Company and the Representatives. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The several Underwriters propose to offer the Stock for sale upon the terms and
conditions set forth in the Prospectus. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">14 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">4.&nbsp;&nbsp;&nbsp;&nbsp;F<SMALL>URTHER</SMALL> A<SMALL>GREEMENTS</SMALL> O<SMALL>F</SMALL> T<SMALL>HE</SMALL>
C<SMALL>OMPANY</SMALL>. The Company agrees with the several Underwriters: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;To prepare the Rule 462(b)
Registration Statement, if necessary, in a form approved by the Representatives and file such Rule 462(b) Registration Statement with the Commission by 10:00 P.M., New York time, on the date hereof, and the Company shall at the time of filing either
pay to the Commission the filing fee for the Rule 462(b) Registration Statement or give irrevocable instructions for the payment of such fee pursuant to Rule 111(b) under the Rules and Regulations; to prepare the Prospectus in a form approved by the
Representatives containing information previously omitted at the time of effectiveness of the Registration Statement in reliance on Rules 430B or 430C under the Securities Act and to file such Prospectus pursuant to Rule 424(b) under the Securities
Act not later than the second business (2<SUP STYLE="font-size:85%; vertical-align:top">nd</SUP>) day following the execution and delivery of this Agreement or, if applicable, such earlier time as may be required under the Securities Act; to notify
the Representatives immediately of the Company&#146;s intention to file or prepare any supplement or amendment to any Registration Statement or to the Prospectus and to make no amendment or supplement to the Registration Statement, the Time of Sale
Disclosure Package or to the Prospectus to which the Representatives shall reasonably object by notice to the Company after a reasonable period to review; to advise the Representatives, promptly after it receives notice thereof, of the time when any
amendment to any Registration Statement has been filed or becomes effective or any supplement to the Time of Sale Disclosure Package or the Prospectus or any amended Prospectus has been filed and to furnish the Underwriters with copies thereof; to
file promptly all material required to be filed by the Company with the Commission pursuant to Rules 433(d) or 163(b)(2) under the Securities Act, as the case may be; to file promptly all reports and any definitive proxy or information statements
required to be filed by the Company with the Commission pursuant to Section&nbsp;13(a), 13(c), 14 or 15(d) of the Exchange Act subsequent to the date of the Prospectus and for so long as the delivery of a prospectus (or in lieu thereof, the notice
referred to in Rule 173(a) under the Securities Act) is required in connection with the offering or sale of the Stock; to advise the Representatives, promptly after it receives notice thereof, of the issuance by the Commission of any stop order or
of any order preventing or suspending the use of any Preliminary Prospectus, any free writing prospectus, the Time of Sale Disclosure Package or the Prospectus, of the suspension of the qualification of the Stock for offering or sale in any
jurisdiction, of the initiation or threatening of any proceeding for any such purpose, or of any request by the Commission for the amending or supplementing of the Registration Statement, the Time of Sale Disclosure Package or the Prospectus or for
additional information; and, in the event of the issuance of any stop order or of any order preventing or suspending the use of any Preliminary Prospectus, any free writing prospectus, the Time of Sale Disclosure Package or the Prospectus or
suspending any such qualification, and promptly to use its best efforts to obtain the withdrawal of such order. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;The Company represents and agrees that, unless it obtains the prior consent of the Representatives, and each
Underwriter represents and agrees that, unless it obtains the prior consent of the Company and the Representatives, it has not made and will not make any offer relating to the Stock that would constitute a &#147;free writing prospectus&#148; as
defined in Rule 405 under the Securities Act unless the prior written consent of the Representatives has been received;<I> provided</I> that the prior written consent of the Representatives hereto shall be deemed to have been given in respect of the
free writing prospectuses included in <U>Schedule B</U> hereto. The Company represents that it has treated and agrees that it will comply with the requirements of Rules 164 and 433 under the Securities Act applicable to any free writing prospectus,
including the requirements relating to timely filing with the Commission, legending and record keeping and will not take any action that would result in an Underwriter or the Company being required to file with the Commission pursuant to Rule 433(d)
under the Securities Act a free writing prospectus prepared by or on behalf of such Underwriter that such Underwriter otherwise would not have been required to file thereunder. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">15 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;The Company will prepare a final term sheet (the &#147;<B>Final Term
Sheet</B>&#148;) reflecting the final terms of the Stock, in form and substance satisfactory to the Representatives, and shall file such Final Term Sheet as a free writing prospectus pursuant to Rule 433 under the Securities Act on the date hereof;
<I>provided</I> that the Company shall provide the Representatives with copies on any such Final Term Sheet a reasonable amount of time prior to such proposed filing and will not use or file any such document to which the Representatives or counsel
to the Underwriters shall reasonably object. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;If at any time prior to the date when a prospectus relating to the
Stock is required to be delivered (or in lieu thereof, the notice referred to in Rule 173(a) under the Securities Act) any event occurs or condition exists as a result of which the Prospectus as then amended or supplemented would include any untrue
statement of a material fact, or omit to state any material fact necessary to make the statements therein, in light of the circumstances under which they were made when the Prospectus is delivered (or in lieu thereof, the notice referred to in Rule
173(a) under the Securities Act), not misleading, or if it is necessary at any time to amend or supplement the Registration Statement or the Prospectus or to file under the Exchange Act any document incorporated by reference in the Prospectus to
comply with the Securities Act or the Exchange Act, that the Company will promptly notify the Representatives thereof and upon its request will prepare an appropriate amendment or supplement or upon its request make an appropriate filing pursuant to
Section&nbsp;13 or 14 of the Exchange Act in form and substance reasonably satisfactory to the Representatives which will correct such statement or omission or effect such compliance and will use its reasonable best efforts to have any amendment to
the Registration Statement declared effective as soon as possible. The Company will furnish without charge to each Underwriter and to any dealer in securities as many copies as the Representatives may from time to time reasonably request of such
amendment or supplement. In case any Underwriter is required to deliver a prospectus (or in lieu thereof, the notice referred to in Rule 173(a) under the Securities Act) relating to the Stock, the Company upon the request of the Representatives and
at the expense of such Underwriter will prepare promptly an amended or supplemented Prospectus as may be necessary to permit compliance with the requirements of Section&nbsp;10(a)(3) of the Securities Act and deliver to such Underwriter as many
copies as such Underwriter may reasonably request of such amended or supplemented Prospectus complying with Section&nbsp;10(a)(3) of the Securities Act. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(e)&nbsp;&nbsp;&nbsp;&nbsp;If the Time of Sale Disclosure Package is being used to solicit offers to buy the Stock at a time when the
Prospectus is not yet available to prospective purchasers and any event shall occur as a result of which, in the judgment of the Company or in the reasonable opinion of the Underwriters, it becomes necessary to amend or supplement the Time of Sale
Disclosure Package in order to make the statements therein, in the light of the circumstances then prevailing, not misleading, or to make the statements therein not conflict with the information contained or incorporated by reference in the
Registration Statement then on file and not superseded or modified, or if it is necessary at any time to amend or supplement the Time of Sale Disclosure Package to comply with any law, the Company promptly will either (i)&nbsp;prepare, file with the
Commission (if required) and furnish to the Underwriters and any dealers an appropriate amendment or supplement to the Time of Sale Disclosure Package or (ii)&nbsp;prepare and file with the Commission an appropriate filing under the Exchange Act
which shall be incorporated by reference in the Time of Sale Disclosure Package so that the Time of Sale Disclosure Package as so amended or supplemented will not, in the light of the circumstances then prevailing, be misleading or conflict with the
Registration Statement then on file, or so that the Time of Sale Disclosure Package will comply with law. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(f)&nbsp;&nbsp;&nbsp;&nbsp;If at
any time following issuance of a free writing prospectus there occurred or occurs an event or development as a result of which such free writing prospectus conflicted or will conflict </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">16 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
with the information contained in the Registration Statement, Time of Sale Disclosure Package or Prospectus, including any document incorporated by reference therein and any prospectus supplement
deemed to be a part thereof and not superseded or modified or included or would include an untrue statement of a material fact or omitted or would omit to state a material fact required to be stated therein or necessary in order to make the
statements therein, in the light of the circumstances prevailing at the subsequent time, not misleading, the Company has promptly notified or will promptly notify the Representatives so that any use of the free writing prospectus may cease until it
is amended or supplemented and has promptly amended or will promptly amend or supplement, at its own expense, such free writing prospectus to eliminate or correct such conflict, untrue statement or omission. The foregoing sentence does not apply to
statements in or omissions from any free writing prospectus in reliance upon, and in conformity with, written information furnished to the Company through the Representatives by or on behalf of any Underwriter specifically for inclusion therein,
which information the parties hereto agree is limited to the Underwriters&#146; Information (as defined in <U>Section</U><U></U><U>&nbsp;17</U>). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(g)&nbsp;&nbsp;&nbsp;&nbsp;Upon the request of the Representatives, to furnish promptly to the Representatives and to counsel for the
Underwriters a signed copy of the Registration Statement as originally filed with the Commission, and of each amendment thereto filed with the Commission, including all consents and exhibits filed therewith. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(h)&nbsp;&nbsp;&nbsp;&nbsp;Upon the request of the Representatives, to the extent not available on EDGAR, to deliver promptly to the
Representatives in New York City such number of the following documents as the Representatives shall reasonably request: (i)&nbsp;conformed copies of the Registration Statement as originally filed with the Commission (in each case excluding
exhibits), (ii) each Preliminary Prospectus, (iii)&nbsp;any free writing prospectus, (iv)&nbsp;the Prospectus (the delivery of the documents referred to in clauses (i), (ii), (iii) and (iv)&nbsp;of this paragraph (h)&nbsp;to be made not later than
10:00 A.M., New York time, on the business day following the execution and delivery of this Agreement), (v) conformed copies of any amendment to the Registration Statement (excluding exhibits), (vi) any amendment or supplement to the Time of Sale
Disclosure Package or the Prospectus (the delivery of the documents referred to in clauses (v)&nbsp;and (vi) of this paragraph (h)&nbsp;to be made not later than 10:00 A.M., New York City time, on the business day following the date of such
amendment or supplement) and (vii)&nbsp;any document incorporated by reference in the Time of Sale Disclosure Package or the Prospectus (excluding exhibits thereto) (the delivery of the documents referred to in clause (vii)&nbsp;of this paragraph
(h)&nbsp;to be made not later than 10:00 A.M., New York City time, on the business day following the date of such document). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;To make generally available to its stockholders as soon as practicable, but in any event not later than sixteen
(16)&nbsp;months after the effective date of the Registration Statement (as defined in Rule 158(c) under the Securities Act), an earnings statement of the Company and its subsidiaries (which need not be audited) complying with Section&nbsp;11(a) of
the Securities Act (including, at the option of the Company, Rule 158). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(j)&nbsp;&nbsp;&nbsp;&nbsp;To take promptly from time to time such
actions as the Representatives may reasonably request to qualify the Stock for offering and sale under the securities or Blue Sky laws of such jurisdictions (domestic or foreign) as the Representatives may designate and to continue such
qualifications in effect, and to comply with such laws, for so long as required to permit the offer and sale of Stock in such jurisdictions; <I>provided</I> that the Company and its subsidiaries shall not be obligated to qualify as foreign
corporations in any jurisdiction in which they are not so qualified or to file a general consent to service of process in any jurisdiction. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(k)&nbsp;&nbsp;&nbsp;&nbsp;Upon request, during the period of five (5)&nbsp;years from the date hereof, to the extent not available on EDGAR,
to deliver to each of the Underwriters, (i)&nbsp;as soon as they are available, </P>
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copies of all reports or other communications furnished to stockholders generally, and (ii)&nbsp;as soon as they are available, copies of any reports and financial statements furnished or filed
with the Commission or any national securities exchange on which the Stock is listed. However, so long as the Company is subject to the reporting requirements of either Section&nbsp;13 or Section&nbsp;15(d) of the Exchange Act and is timely filing
reports with the Commission on EDGAR, it is not required to furnish such reports or statements to the Underwriters. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(l)&nbsp;&nbsp;&nbsp;&nbsp;During the period commencing on and including the date hereof and ending on and including the 90th day following the
date of this Agreement (as the same may be extended as described below, the &#147;<B><FONT STYLE="white-space:nowrap">Lock-Up</FONT> Period</B>&#148;), the Company will not, without the prior written consent of Cowen and Company, LLC
(&#147;<B>Cowen</B>&#148;) (which consent may be withheld at the sole discretion of Cowen), directly or indirectly, sell (including, without limitation, any short sale), offer, contract or grant any option to sell, pledge, transfer or establish an
open &#147;put equivalent position&#148; within the meaning of Rule <FONT STYLE="white-space:nowrap">16a-1(h)</FONT> under the Exchange Act, or otherwise dispose of or transfer, or announce the offering of, or file any registration statement under
the Securities Act in respect of, any Common Stock, options, rights or warrants to acquire Common Stock or securities exchangeable or exercisable for or convertible into Common Stock (other than as contemplated by this Agreement with respect to the
Stock) or publicly announce the intention to do any of the foregoing; provided, however, that the Company may (i)&nbsp;issue Common Stock and options to purchase Common Stock, shares of Common Stock underlying options granted and other securities,
each pursuant to any director or employee stock option plan, stock ownership plan or dividend reinvestment plan of the Company in effect on the date hereof and described in the Time of Sale Disclosure Package; (ii)&nbsp;issue Common Stock pursuant
to the conversion of securities or the exercise of warrants, which securities or warrants are outstanding on the date hereof and described in the Time of Sale Disclosure Package; (iii)&nbsp;adopt a new equity incentive plan, and file a registration
statement on Form <FONT STYLE="white-space:nowrap">S-8</FONT> under the Securities Act to register the offer and sale of securities to be issued pursuant to such new equity incentive plan, and issue securities pursuant to such new equity incentive
plan (including, without limitation, the issuance of shares of Common Stock upon the exercise of options or other securities issued pursuant to such new equity incentive plan), provided that (1)&nbsp;such new equity incentive plan satisfies the
transaction requirements of General Instruction A.1 of Form <FONT STYLE="white-space:nowrap">S-8</FONT> under the Securities Act and (2)&nbsp;this clause (iii)&nbsp;shall not be available unless each recipient of shares of Common Stock, or
securities exchangeable or exercisable for or convertible into Common Stock, pursuant to such new equity incentive plan shall be contractually prohibited from selling, offering, disposing of or otherwise transferring any such shares or securities
during the remainder of the <FONT STYLE="white-space:nowrap">Lock-Up</FONT> Period; or (iv)&nbsp;issue Common Stock to one or more counterparties in connection with the consummation, by the Company, of one or more strategic partnerships, joint
ventures, collaborations or acquisitions or licenses of any business products or technology, provided that (1)&nbsp;the aggregate number of shares of Common Stock that may be issued pursuant to this clause (iv)&nbsp;shall not exceed five percent
(5%) of the number of shares of Common Stock outstanding immediately after the closing of the sale of the Stock to the Underwriters pursuant to this Agreement, and (2)&nbsp;this clause (iv)&nbsp;shall not be available unless each recipient of such
Common Stock shall have, prior to, or concurrently with, the entry of a definitive agreement in connection with the applicable partnership, joint venture, collaboration, acquisition or license, agreed in writing not to sell, offer, dispose of or
otherwise transfer any such Common Stock (or engage in any short sales of Common Stock prior to the issuance of such Common Stock) during the remainder, if any, of the <FONT STYLE="white-space:nowrap">Lock-Up</FONT> Period without the prior written
consent of Cowen (which consent may be withheld at the sole discretion of Cowen). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(m)&nbsp;&nbsp;&nbsp;&nbsp;To supply the Representatives
with copies of all correspondence to and from, and all documents issued to and by, the Commission in connection with the registration of the Stock under the Securities Act or any of the Registration Statement, any Preliminary Prospectus or the
Prospectus, or any amendment or supplement thereto or document incorporated by reference therein. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">18 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(n)&nbsp;&nbsp;&nbsp;&nbsp;Prior to the Closing Date, not to issue any press release or other
communication directly or indirectly or hold any press conference with respect to the Company, its condition, financial or otherwise, or earnings, business affairs or business prospects (except for routine oral marketing communications in the
ordinary course of business and consistent with the past practices of the Company and of which the Representatives are notified), without the prior written consent of the Representatives, unless in the judgment of the Company and its counsel, and
after notification to the Representatives, such press release or communication is required by law. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(o)&nbsp;&nbsp;&nbsp;&nbsp;Prior to the
Closing Date, other than Stock purchased in connection with the offering contemplated by this Agreement, the Company will not, and will use its reasonable best efforts to cause its affiliated purchasers (as defined in Regulation M under the Exchange
Act) not to, either alone or with one or more other persons, bid for or purchase, for any account in which it or any of its affiliated purchasers has a beneficial interest, any Stock, or attempt to induce any person to purchase any Stock; and not
to, and to use its reasonable best efforts to cause its affiliated purchasers not to, make bids or purchase for the purpose of creating actual, or apparent, active trading in or of raising the price of the Stock. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(p)&nbsp;&nbsp;&nbsp;&nbsp;To maintain, at its expense, a registrar and transfer agent for the Stock. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(q)&nbsp;&nbsp;&nbsp;&nbsp;To apply the net proceeds from the sale of the Stock as set forth in the Registration Statement, the Time of Sale
Disclosure Package and the Prospectus under the heading &#147;Use of Proceeds,&#148; and except as disclosed in the Time of Sale Disclosure Package, the Company does not intend to use any of the proceeds from the sale of the Stock hereunder to repay
any outstanding debt owed to any affiliate of any Underwriter. The Company shall manage its affairs and investments in such a manner as not to be or become an &#147;investment company&#148; within the meaning of the Investment Company Act and the
rules and regulations thereunder. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(r)&nbsp;&nbsp;&nbsp;&nbsp; To pay the required Commission filing fees relating to the Stock within the
time required by Rule 456(b)(1) of the Rules and Regulations without regard to the proviso therein and otherwise in accordance with Rules 456(b) and 457(r) of the Rules and Regulations. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(s)&nbsp;&nbsp;&nbsp;&nbsp;To use its reasonable best efforts to list, subject to notice of issuance, and to maintain the listing of the Stock
on The NASDAQ Capital Market or another national securities exchange. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(t)&nbsp;&nbsp;&nbsp;&nbsp;To use its reasonable efforts to do and
perform all things required to be done or performed under this Agreement by the Company prior to each Closing Date and to satisfy all conditions precedent to the delivery of the Firm Stock and the Optional Stock. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">5.&nbsp;&nbsp;&nbsp;&nbsp;<I>P<SMALL>AYMENT</SMALL> <SMALL>OF</SMALL> E<SMALL>XPENSES</SMALL></I><SMALL></SMALL>. The Company agrees to pay, or reimburse if
paid by any Underwriter, whether or not the transactions contemplated hereby are consummated or this Agreement is terminated: (a)&nbsp;the costs incident to the authorization, issuance, sale, preparation and delivery of the Stock and any taxes
payable in that connection; (b)&nbsp;the costs incident to the registration of the Stock under the Securities Act; (c)&nbsp;the costs incident to the preparation, printing and distribution of the Registration Statement, the Base Prospectus, any
Preliminary Prospectus, any free writing prospectus, the Time of Sale Disclosure Package, the Prospectus, any amendments, supplements and exhibits thereto or any document incorporated by reference therein and the costs of printing, reproducing and
distributing this Agreement and any closing documents by mail, telex or other means of communications; (d)&nbsp;the fees and expenses (including related fees and expenses of counsel for the Underwriters) incurred in connection with securing any
required review by FINRA of the terms of the sale of the Stock and any filings made with FINRA </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">19 </P>


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(not to exceed $5,000 in the aggregate); (e) any applicable listing or other fees; (f)&nbsp;the fees and expenses (including related fees and expenses of counsel to the Underwriters) of
qualifying the Stock under the securities laws of the several jurisdictions as provided in <U>Section</U><U></U><U>&nbsp;4(j)</U>) and of preparing, printing and distributing wrappers, and Blue Sky Memoranda (not to exceed $10,000 in the aggregate);
(g) the cost of preparing and printing stock certificates; (h)&nbsp;all fees and expenses of the registrar and transfer agent of the Stock; (i)&nbsp;the costs and expenses of the Company relating to investor presentations on any &#147;road
show&#148; undertaken in connection with the marketing of the offering of the Stock, including, without limitation, expenses associated with the preparation or dissemination of any electronic road show, expenses associated with the production of
road show slides and graphics, fees and expenses of any consultants engaged in connection with the road show presentations with the prior approval of the Company, travel and lodging expenses of the officers of the Company and such consultants,
including the cost of any aircraft chartered in connection with the road show, and (j)&nbsp;all other costs and expenses incident to the offering of the Stock or the performance of the obligations of the Company under this Agreement (including,
without limitation, the fees and expenses of the Company&#146;s counsel and the Company&#146;s independent accountants; <I>provided</I> that, except to the extent otherwise provided in this <U>Section</U><U></U><U>&nbsp;5</U>, and in <U>Sections
9</U> and <U>10</U> hereof, the Underwriters shall pay their own costs and expenses, including the fees and expenses of their counsel, any transfer taxes on the resale of any Stock by them and the expenses of advertising any offering of the Stock
made by the Underwriters. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">6.&nbsp;&nbsp;&nbsp;&nbsp;<I>C<SMALL>ONDITIONS</SMALL> <SMALL>OF</SMALL>
U<SMALL>NDERWRITERS</SMALL></I><SMALL><I></I></SMALL><I>&#146;</I><I> O<SMALL>BLIGATIONS</SMALL>.</I> The respective obligations of the several Underwriters hereunder are subject to the accuracy, when made and as of the Applicable Time and on such
Closing Date, of the representations and warranties of the Company contained herein, to the accuracy of the statements of the Company made in any certificates pursuant to the provisions hereof, to the performance by the Company of its obligations
hereunder, and to each of the following additional terms and conditions: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;The Registration Statement has become
effective under the Securities Act, and no stop order suspending the effectiveness of the Registration Statement or any part thereof, preventing or suspending the use of any Base Prospectus, any Preliminary Prospectus, any free writing prospectus,
the Time of Sale Disclosure Package, the Prospectus or any part thereof shall have been issued and no proceedings for that purpose or pursuant to Section&nbsp;8A under the Securities Act shall have been initiated or threatened by the Commission and
no notice of objection of the Commission to the use of the Registration Statement or any post-effective amendment thereto pursuant to Rule 401(g)(2) of the Rules and Regulations shall have been received, and all requests for additional information
on the part of the Commission (to be included or incorporated by reference in the Registration Statement or the Prospectus or otherwise) shall have been complied with to the reasonable satisfaction of the Representatives; the Rule 462(b)
Registration Statement, if any, any Preliminary Prospectus, each free writing prospectus and the Prospectus shall have been filed with, the Commission within the applicable time period prescribed for such filing by, and in compliance with, the
Securities Act and in accordance with <U>Section</U><U></U><U>&nbsp;4(a)</U>, and the Rule 462(b) Registration Statement, if any, shall have become effective immediately upon its filing with the Commission; and FINRA shall have raised no objection
to the fairness and reasonableness of the terms of this Agreement or the transactions contemplated hereby. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;None
of the Underwriters shall have discovered and disclosed to the Company on or prior to such Closing Date that the Registration Statement or any amendment or supplement thereto contains an untrue statement of a fact which, in the opinion of counsel
for the Underwriters, is material or omits to state any fact which, in the opinion of such counsel, is material and is required to be stated therein or is necessary to make the statements therein not misleading, or that the Time of Sale Disclosure
Package, any free writing prospectus or the Prospectus or any amendment or supplement thereto contains an untrue statement of fact which, in the opinion of such counsel, is material or omits to state any fact which, in the opinion of such counsel,
is material and is necessary in order to make the statements, in the light of the circumstances in which they were made, not misleading. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">20 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;All corporate proceedings and other legal matters incident to the
authorization, form and validity of each of this Agreement, the Stock, the Registration Statement, the Time of Sale Disclosure Package, each free writing prospectus and the Prospectus and all other legal matters relating to this Agreement and the
transactions contemplated hereby shall be reasonably satisfactory in all material respects to counsel for the Underwriters, and the Company shall have furnished to such counsel all documents and information that they may reasonably request to enable
them to pass upon such matters. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;On each Closing Date, the Representatives shall have received the opinion
letter and negative assurance letter of Cooley LLP, counsel for the Company, dated as of such date, in form and substance reasonably satisfactory to the Representatives. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(e)&nbsp;&nbsp;&nbsp;&nbsp;On each Closing Date, the Representatives shall have received the opinion of the General Counsel of the Company,
dated as of such date, in form and substance reasonably satisfactory to the Representatives. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(f)&nbsp;&nbsp;&nbsp;&nbsp;On each Closing
Date the Representatives shall have received the opinion and negative assurance letter of Goodwin Procter LLP, counsel for the Underwriters in connection with the offer and sale of the Stock, in form and substance satisfactory to the Underwriters,
dated as of such date. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(g)&nbsp;&nbsp;&nbsp;&nbsp;At the time of the execution of this Agreement, the Representatives shall have received
from Ernst&nbsp;&amp; Young LLP a letter, addressed to the Underwriters, executed and dated such date, in form and substance satisfactory to the Representatives (i)&nbsp;confirming that they are an independent registered accounting firm with respect
to the Company and its subsidiaries within the meaning of the Securities Act and the rules and regulations of the PCAOB and (ii)&nbsp;stating the conclusions and findings of such firm, of the type ordinarily included in accountants&#146;
&#147;comfort letters&#148; to underwriters, with respect to the financial statements and certain financial information contained or incorporated by reference in the Registration Statement, the Time of Sale Disclosure Package and the Prospectus.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(h)&nbsp;&nbsp;&nbsp;&nbsp;On the effective date of any post-effective amendment to the Registration Statement and on each Closing Date,
the Representatives shall have received a letter (the &#147;<B>bring-down letter</B>&#148;) from Ernst&nbsp;&amp; Young LLP addressed to the Underwriters and dated such Closing Date confirming, as of the date of the bring-down letter (or, with
respect to matters involving changes or developments since the respective dates as of which specified financial information is given in the Time of Sale Disclosure Package and the Prospectus, as the case may be, as of a date not more than three
(3)&nbsp;business days prior to the date of the bring-down letter), the conclusions and findings of such firm, of the type ordinarily included in accountants&#146; &#147;comfort letters&#148; to underwriters, with respect to the financial
information and other matters covered by its letter delivered to the Representatives concurrently with the execution of this Agreement pursuant to paragraph (f)&nbsp;of this <U>Section</U><U></U><U>&nbsp;6</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;The Company shall have furnished to the Representatives a certificate, dated such Closing Date, of its Chief
Executive Officer stating on behalf of the Company, that (i)&nbsp;no stop order suspending the effectiveness of the Registration Statement (including, for avoidance of doubt, any Rule 462(b) Registration Statement), or any post-effective amendment
thereto, shall be in effect and no proceedings for such purpose shall have been instituted or, to their knowledge, threatened by the Commission, (ii)&nbsp;for the period from and including the date of this Agreement
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">21 </P>


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through and including such date, there has not occurred any Material Adverse Change, (iii)&nbsp;the representations, warranties and covenants of the Company set forth in
<U>Section</U><U></U><U>&nbsp;2</U> of this Agreement are true and correct with the same force and effect as though expressly made on and as of such date, and (iv)&nbsp;the Company has complied with all the agreements hereunder and satisfied all the
conditions on its part to be performed or satisfied hereunder at or prior to such date. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(j)&nbsp;&nbsp;&nbsp;&nbsp;Since the date of the
latest audited financial statements included in the Time of Sale Disclosure Package or incorporated by reference in the Time of Sale Disclosure Package as of the date hereof, (i)&nbsp;neither the Company nor any of its subsidiaries shall have
sustained any loss or interference with its business from fire, explosion, flood or other calamity, whether or not covered by insurance, or from any labor dispute or court or governmental action, order or decree, otherwise than as set forth in the
Time of Sale Disclosure Package, and (ii)&nbsp;there shall not have been any change in the capital stock or long-term debt of the Company or any of its subsidiaries, or any change, or any development involving a prospective change, in or affecting
the business, general affairs, management, financial position, stockholders&#146; equity or results of operations of the Company and its subsidiaries, otherwise than as set forth in the Time of Sale Disclosure Package, the effect of which, in any
such case described in clause (i)&nbsp;or (ii) of this paragraph (j), is, in the judgment of the Representatives, so material and adverse as to make it impracticable or inadvisable to proceed with the sale or delivery of the Stock on the terms and
in the manner contemplated in the Time of Sale Disclosure Package. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(k)&nbsp;&nbsp;&nbsp;&nbsp;No action shall have been taken and no law,
statute, rule, regulation or order shall have been enacted, adopted or issued by any governmental agency or body which would prevent the issuance or sale of the Stock or materially and adversely affect or potentially materially and adversely affect
the business or operations of the Company; and no injunction, restraining order or order of any other nature by any federal or state court of competent jurisdiction shall have been issued which would prevent the issuance or sale of the Stock or
materially and adversely affect or potentially materially and adversely affect the business or operations of the Company. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(l)&nbsp;&nbsp;&nbsp;&nbsp;Subsequent to the execution and delivery of this Agreement (i)&nbsp;no downgrading shall have occurred in the
Company&#146;s corporate credit rating or the rating accorded the Company&#146;s debt securities by any &#147;nationally recognized statistical rating organization,&#148; as that term is defined by the Commission for purposes of Rule 436(g)(2) under
the Securities Act and (ii)&nbsp;no such organization shall have publicly announced that it has under surveillance or review (other than an announcement with positive implications of a possible upgrading), the Company&#146;s corporate credit rating
or the rating of any of the Company&#146;s debt securities. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(m)&nbsp;&nbsp;&nbsp;&nbsp;Subsequent to the execution and delivery of this
Agreement there shall not have occurred any of the following: (i)&nbsp;trading in any of the Company&#146;s securities shall have been suspended or materially limited by the Commission or by The NASDAQ Capital Market, or trading in securities
generally on the New York Stock Exchange, NASDAQ Global Select Market, NASDAQ Global Market, NASDAQ Capital Market or the NYSE American LLC or in the <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">over-the-counter</FONT></FONT>
market, or trading in any securities of the Company on any exchange or in the <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">over-the-counter</FONT></FONT> market, shall have been suspended or materially limited, or minimum or
maximum prices or maximum range for prices shall have been established on any such exchange or such market by the Commission, by such exchange or market or by any other regulatory body or governmental authority having jurisdiction, (ii)&nbsp;a
banking moratorium shall have been declared by Federal or state authorities or a material disruption has occurred in commercial banking or securities settlement or clearance services in the United States, (iii)&nbsp;the United States shall have
become engaged in hostilities, or the subject of an act of terrorism, or there shall have been an outbreak of or escalation in hostilities involving the United States, or there shall have been a </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">22 </P>


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declaration of a national emergency or war by the United States or (iv)&nbsp;there shall have occurred such a material adverse change in general economic, political or financial conditions (or
the effect of international conditions on the financial markets in the United States shall be such) as to make it, in the judgment of the Representatives, impracticable or inadvisable to proceed with the sale or delivery of the Stock on the terms
and in the manner contemplated in the Time of Sale Disclosure Package and the Prospectus. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(n)&nbsp;&nbsp;&nbsp;&nbsp;The Company shall
have filed a Notification: Listing of Additional Shares with the NASDAQ Capital Market and shall have received no objection thereto from the NASDAQ Capital Market. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(o)&nbsp;&nbsp;&nbsp;&nbsp;The Representatives shall have received on and as of such Closing Date satisfactory evidence of the good standing of
the Company in its jurisdiction of incorporation and its good standing as foreign entities in such other jurisdictions as the Representatives may reasonably request, in each case in writing or any standard form of telecommunication from the
appropriate authorities of such jurisdictions. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(p)&nbsp;&nbsp;&nbsp;&nbsp;The Representatives shall have received the written agreements,
substantially in the form of <U>Exhibit</U><U></U><U>&nbsp;I</U> hereto, of the executive officers and directors of the Company listed in <U>Schedule D</U> to this Agreement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(q)&nbsp;&nbsp;&nbsp;&nbsp;The Company shall have furnished to the Representatives a certificate, dated such Closing Date, of its Secretary.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(r)&nbsp;&nbsp;&nbsp;&nbsp;The Company shall have furnished to the Representatives a certificate, dated such Closing Date, of its Chief
Financial Officer, substantially in the form of <U>Exhibit II</U> hereto. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(s)&nbsp;&nbsp;&nbsp;&nbsp;On or prior to such Closing Date, the
Company shall have furnished to the Representatives such further certificates and documents as the Representatives may reasonably request and are customary for the type of offering contemplated by this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">All opinions, letters, evidence and certificates mentioned above or elsewhere in this Agreement shall be deemed to be in compliance with the
provisions hereof only if they are in form and substance reasonably satisfactory to counsel for the Underwriters. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">7.&nbsp;&nbsp;&nbsp;&nbsp;<I>I<SMALL>NDEMNIFICATION</SMALL> <SMALL>AND</SMALL> C<SMALL>ONTRIBUTION</SMALL>.</I><I> </I> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;The Company shall indemnify and hold harmless each Underwriter, its affiliates, directors, officers, managers,
members, employees, representatives and agents and each person, if any, who controls any Underwriter within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act (collectively the &#147;<B>Underwriter
Indemnified Parties</B>,&#148; and each an &#147;<B>Underwriter Indemnified Party</B>&#148;) against any loss, claim, damage, expense or liability whatsoever (or any action, investigation or proceeding in respect thereof), joint or several, to which
such Underwriter Indemnified Party may become subject, under the Securities Act or otherwise, insofar as such loss, claim, damage, expense, liability, action, investigation or proceeding arises out of or is based upon (A)&nbsp;any untrue statement
or alleged untrue statement of a material fact contained in any Preliminary Prospectus, any free writing prospectus, the Registration Statement, the Time of Sale Disclosure Package or the Prospectus, or in any amendment or supplement thereto or
document incorporated by reference therein, or (B)&nbsp;the omission or alleged omission to state in any Preliminary Prospectus, any free writing prospectus, the Registration Statement, the Time of Sale Disclosure Package or the Prospectus, or in
any amendment or supplement thereto or document incorporated by reference therein, a material fact </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">23 </P>


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required to be stated therein or necessary to make the statements therein not misleading, and shall reimburse each Underwriter Indemnified Party promptly upon demand for any legal fees or other
expenses reasonably incurred by that Underwriter Indemnified Party in connection with investigating, or preparing to defend, or defending against, or appearing as a third party witness in respect of, or otherwise incurred in connection with, any
such loss, claim, damage, expense, liability, action, investigation or proceeding, as such fees and expenses are incurred; <I>provided</I>, <I>however</I>, that the Company shall not be liable in any such case to the extent that any such loss,
claim, damage, expense or liability arises out of or is based upon an untrue statement or alleged untrue statement in, or omission or alleged omission from any Preliminary Prospectus, any free writing prospectus, the Registration Statement, the Time
of Sale Disclosure Package or the Prospectus, or in any amendment or supplement thereto or document incorporated by reference therein made in reliance upon and in conformity with written information furnished to the Company through the
Representatives by or on behalf of any Underwriter specifically for use therein, which information the parties hereto agree is limited to the Underwriter&#146;s Information (as defined in <U>Section</U><U></U><U>&nbsp;17</U>). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The indemnity agreement in this <U>Section</U><U></U><U>&nbsp;7(a)</U> is not exclusive and is in addition to each other liability which the
Company might have under this Agreement or otherwise, and shall not limit any rights or remedies which may otherwise be available under this Agreement, at law or in equity to any Underwriter Indemnified Party. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;Each Underwriter, severally and not jointly, shall indemnify and hold harmless the Company and its directors, its
officers who signed the Registration Statement and each person, if any, who controls the Company within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act (collectively the &#147;<B>Company Indemnified
Parties</B>&#148; and each a &#147;<B>Company Indemnified Party</B>&#148;) against any loss, claim, damage, expense or liability whatsoever (or any action, investigation or proceeding in respect thereof), joint or several, to which such Company
Indemnified Party may become subject, under the Securities Act or otherwise, insofar as such loss, claim, damage, expense, liability, action, investigation or proceeding arises out of or is based upon (i)&nbsp;any untrue statement or alleged untrue
statement of a material fact contained in any Preliminary Prospectus, any free writing prospectus, the Registration Statement, the Time of Sale Disclosure Package or the Prospectus, or in any amendment or supplement thereto or document incorporated
by reference therein, or (ii)&nbsp;the omission or alleged omission to state in any Preliminary Prospectus, any free writing prospectus, the Registration Statement, the Time of Sale Disclosure Package or the Prospectus, or in any amendment or
supplement thereto or document incorporated by reference therein, a material fact required to be stated therein or necessary to make the statements therein not misleading, but in each case only to the extent that the untrue statement or alleged
untrue statement or omission or alleged omission was made in reliance upon and in conformity with written information furnished to the Company through the Representatives by or on behalf of that Underwriter specifically for use therein, which
information the parties hereto agree is limited to the Underwriter&#146;s Information as defined in <U>Section</U><U></U><U>&nbsp;17</U>, and shall reimburse the Company Indemnified Parties for any legal or other expenses reasonably incurred by such
party in connection with investigating or preparing to defend or defending against or appearing as third party witness in connection with any such loss, claim, damage, liability, action, investigation or proceeding, as such fees and expenses are
incurred. This indemnity agreement is not exclusive and will be in addition to any liability which the Underwriters might otherwise have and shall not limit any rights or remedies which may otherwise be available under this Agreement, at law or in
equity to the Company Indemnified Parties. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;Promptly after receipt by an indemnified party under this
<U>Section</U><U></U><U>&nbsp;7</U> of notice of the commencement of any action, the indemnified party shall, if a claim in respect thereof is to be </P>
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made against an indemnifying party under this <U>Section7</U>, notify such indemnifying party in writing of the commencement of that action; <I>provided, however,</I> that the failure to notify
the indemnifying party shall not relieve it from any liability which it may have under this <U>Section</U><U></U><U>&nbsp;7</U> except to the extent it has been materially prejudiced by such failure; and, <I>provided, further,</I> that the failure
to notify an indemnifying party shall not relieve it from any liability which it may have to an indemnified party otherwise than under this <U>Section</U><U></U><U>&nbsp;7</U>. If any such action shall be brought against an indemnified party, and it
shall notify the indemnifying party thereof, the indemnifying party shall be entitled to participate therein and, to the extent that it wishes, jointly with any other similarly notified indemnifying party, to assume the defense of such action with
counsel reasonably satisfactory to the indemnified party (which counsel shall not, except with the written consent of the indemnified party, be counsel to the indemnifying party). After notice from the indemnifying party to the indemnified party of
its election to assume the defense of such action, except as provided herein, the indemnifying party shall not be liable to the indemnified party under <U>Section</U><U></U><U>&nbsp;7</U> for any legal or other expenses subsequently incurred by the
indemnified party in connection with the defense of such action other than reasonable costs of investigation; <I>provided, however,</I> that any indemnified party shall have the right to employ separate counsel in any such action and to participate
in the defense of such action but the fees and expenses of such counsel (other than reasonable costs of investigation) shall be at the expense of such indemnified party unless (i)&nbsp;the employment thereof has been specifically authorized in
writing by the Company in the case of a claim for indemnification under <U>Section</U><U></U><U>&nbsp;7(a)</U> or the Representatives in the case of a claim for indemnification under <U>Section7(b)</U>, (ii) such indemnified party shall have been
advised by its counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the indemnifying party, or (iii)&nbsp;the indemnifying party has failed to assume the defense of such
action and employ counsel reasonably satisfactory to the indemnified party within a reasonable period of time after notice of the commencement of the action or the indemnifying party does not diligently defend the action after assumption of the
defense, in which case, if such indemnified party notifies the indemnifying party in writing that it elects to employ separate counsel at the expense of the indemnifying party, the indemnifying party shall not have the right to assume the defense of
(or, in the case of a failure to diligently defend the action after assumption of the defense, to continue to defend) such action on behalf of such indemnified party and the indemnifying party shall be responsible for legal or other expenses
subsequently incurred by such indemnified party in connection with the defense of such action; <I>provided</I>, <I>however</I>, that the indemnifying party shall not, in connection with any one such action or separate but substantially similar or
related actions in the same jurisdiction arising out of the same general allegations or circumstances, be liable for the reasonable fees and expenses of more than one separate firm of attorneys at any time for all such indemnified parties (in
addition to any local counsel), which firm shall be designated in writing by the Representatives if the indemnified parties under this <U>Section</U><U></U><U>&nbsp;7</U> consist of any Underwriter Indemnified Party or by the Company if the
indemnified parties under this <U>Section</U><U></U><U>&nbsp;7</U> consist of any Company Indemnified Parties. Subject to this <U>Section7(c)</U>, the amount payable by an indemnifying party under <U>Section</U><U></U><U>&nbsp;7</U> shall include,
but not be limited to, (x)&nbsp;reasonable legal fees and expenses of counsel to the indemnified party and any other expenses in investigating, or preparing to defend or defending against, or appearing as a third party witness in respect of, or
otherwise incurred in connection with, any action, investigation, proceeding or claim, and (y)&nbsp;all amounts paid in settlement of any of the foregoing. No indemnifying party shall, without the prior written consent of the indemnified parties,
settle or compromise or consent to the entry of judgment with respect to any pending or threatened action or any claim whatsoever, in respect of which indemnification or contribution could be sought under this <U>Section</U><U></U><U>&nbsp;7</U>
(whether or not the indemnified parties are actual or potential parties thereto), unless such settlement, compromise or consent (i)&nbsp;includes an unconditional release of each indemnified party in form and substance reasonably satisfactory to
such indemnified party from all liability arising out of such action or claim and (ii)&nbsp;does not include a statement as to or an admission of fault, culpability or a failure to act by or on behalf of
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">25 </P>


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any indemnified party. Subject to the provisions of the following sentence, no indemnifying party shall be liable for settlement of any pending or threatened action or any claim whatsoever that
is effected without its written consent (which consent shall not be unreasonably withheld or delayed), but if settled with its written consent, if its consent has been unreasonably withheld or delayed or if there be a judgment for the plaintiff in
any such matter, the indemnifying party agrees to indemnify and hold harmless any indemnified party from and against any loss or liability by reason of such settlement or judgment. In addition, if at any time an indemnified party shall have
requested that an indemnifying party reimburse the indemnified party for fees and expenses of counsel, such indemnifying party agrees that it shall be liable for any settlement of the nature contemplated by <U>Section&nbsp;7(a)</U> effected without
its written consent if (i)&nbsp;such settlement is entered into more than forty-five (45)&nbsp;days after receipt by such indemnifying party of the request for reimbursement, (ii)&nbsp;such indemnifying party shall have received notice of the terms
of such settlement at least thirty (30)&nbsp;days prior to such settlement being entered into and (iii)&nbsp;such indemnifying party shall not have reimbursed such indemnified party in accordance with such request prior to the date of such
settlement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;If the indemnification provided for in this <U>Section</U><U></U><U>&nbsp;7</U> is unavailable or
insufficient to hold harmless an indemnified party under <U>Section</U><U></U><U>&nbsp;7(a)</U> or <U>7(b)</U>, then each indemnifying party shall, in lieu of indemnifying such indemnified party, contribute to the amount paid, payable or otherwise
incurred by such indemnified party as a result of such loss, claim, damage, expense or liability (or any action, investigation or proceeding in respect thereof), as incurred, (i)&nbsp;in such proportion as shall be appropriate to reflect the
relative benefits received by the Company on the one hand and the Underwriters on the other from the offering of the Stock, or (ii)&nbsp;if the allocation provided by clause (i)&nbsp;of this <U>Section</U><U></U><U>&nbsp;7(d)</U> is not permitted by
applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i)&nbsp;of this <U>Section</U><U></U><U>&nbsp;7(d)</U> but also the relative fault of the Company on the one hand and the
Underwriters on the other with respect to the statements, omissions, acts or failures to act which resulted in such loss, claim, damage, expense or liability (or any action, investigation or proceeding in respect thereof) as well as any other
relevant equitable considerations. The relative benefits received by the Company on the one hand and the Underwriters on the other with respect to such offering shall be deemed to be in the same proportion as the total net proceeds from the offering
of the Stock purchased under this Agreement (before deducting expenses) received by the Company bear to the total underwriting discounts and commissions received by the Underwriters with respect to the Stock purchased under this Agreement, in each
case as set forth in the table on the cover page of the Prospectus. The relative fault of the Company on the one hand and the Underwriters on the other shall be determined by reference to, among other things, whether the untrue or alleged untrue
statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company on the one hand or the Underwriters on the other, the intent of the parties and their relative knowledge, access
to information and opportunity to correct or prevent such untrue statement, omission, act or failure to act; <I>provided</I> that the parties hereto agree that the written information furnished to the Company through the Representatives by or on
behalf of the Underwriters for use in any Preliminary Prospectus, any free writing prospectus, the Registration Statement, the Time of Sale Disclosure Package or the Prospectus, or in any amendment or supplement thereto or document incorporated by
reference therein, consists solely of the Underwriter&#146;s Information as defined in <U>Section</U><U></U><U>&nbsp;17</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(e)&nbsp;&nbsp;&nbsp;&nbsp;The Company and the Underwriters agree that it would not be just and equitable if contributions pursuant to
<U>Section</U><U></U><U>&nbsp;7(d)</U> above were to be determined by pro rata allocation or by any other method of allocation which does not take into account the equitable considerations referred to <U>Section</U><U></U><U>&nbsp;7(d)</U> above.
The amount paid or payable by an indemnified party as a result of the loss, claim, damage, expense, liability, action, investigation or proceeding referred to in <U>Section</U><U></U><U>&nbsp;7(d)</U> above shall be deemed to include, subject to the
limitations set forth above, any legal </P>
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or other expenses reasonably incurred by such indemnified party in connection with investigating, preparing to defend or defending against or appearing as a third party witness in respect of, or
otherwise incurred in connection with, any such loss, claim, damage, expense, liability, action, investigation or proceeding. Notwithstanding the provisions of this <U>Section</U><U></U><U>&nbsp;7</U>, no Underwriters shall be required to contribute
any amount in excess of the total underwriting discounts and commissions received by such Underwriter with respect to the offering of the Stock exceeds the amount of any damages which the Underwriter has otherwise paid or become liable to pay by
reason of any untrue or alleged untrue statement, omission or alleged omission, act or alleged act or failure to act or alleged failure to act. No Person guilty of fraudulent misrepresentation (within the meaning of Section&nbsp;11(f) of the
Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. The Underwriters&#146; obligations to contribute as provided in this <U>Section</U><U></U><U>&nbsp;7</U> are several in
proportion to their respective underwriting obligations and not joint. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">8.&nbsp;&nbsp;&nbsp;&nbsp;<I>T<SMALL>ERMINATION</SMALL></I><SMALL></SMALL>. The
obligations of the Underwriters hereunder may be terminated by the Representatives, in their absolute discretion by notice given to the Company prior to delivery of and payment for the Firm Stock if, prior to that time, any of the events described
in <U>Sections 6(j)</U>, <U>6(l)</U> or <U>6(m)</U> have occurred or if the Underwriters shall decline to purchase the Stock for any reason permitted under this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9.&nbsp;&nbsp;&nbsp;&nbsp;<I>R<SMALL>EIMBURSEMENT</SMALL> <SMALL>OF</SMALL> U<SMALL>NDERWRITERS</SMALL>&#146; E<SMALL>XPENSES</SMALL></I><SMALL></SMALL>.
Notwithstanding anything to the contrary in this Agreement, if (a)&nbsp;this Agreement shall have been terminated pursuant to <U>Section</U><U></U><U>&nbsp;8</U> or <U>10</U>, (b) the Company shall fail to tender the Stock for delivery to the
Underwriters for any reason not permitted under this Agreement, (c)&nbsp;the Underwriters shall decline to purchase the Stock for any reason permitted under this Agreement or (d)&nbsp;the sale of the Stock is not consummated because any condition to
the obligations of the Underwriters set forth herein is not satisfied or because of the refusal, inability or failure on the part of the Company to perform any agreement herein or to satisfy any condition or to comply with the provisions hereof
prior to the Closing Date, then in addition to the payment of amounts in accordance with <U>Section</U><U></U><U>&nbsp;5</U>, the Company shall reimburse the Underwriters for the fees and expenses of Underwriters&#146; counsel and for such other <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">out-of-pocket</FONT></FONT> expenses as shall have been reasonably actually incurred by them in connection with this Agreement and the proposed purchase of the Stock, including, without
limitation, travel and lodging expenses of the Underwriters, and upon demand the Company shall pay the full amount thereof to the Representatives; <I>provided</I> that if this Agreement is terminated pursuant to <U>Section</U><U></U><U>&nbsp;10</U>
by reason of the default of one or more Underwriters, the Company shall not be obligated to reimburse any defaulting Underwriter on account of expenses to the extent incurred by such defaulting Underwriter, provided<I> </I>that the foregoing shall
not limit any reimbursement obligation of the Company to any <FONT STYLE="white-space:nowrap">non-defaulting</FONT> Underwriter under this <U>Section</U><U></U><U>&nbsp;9</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10.&nbsp;&nbsp;&nbsp;&nbsp;<I>S<SMALL>UBSTITUTION</SMALL> <SMALL>OF</SMALL> U<SMALL>NDERWRITERS</SMALL></I><SMALL></SMALL>. If any Underwriter or Underwriters
shall default in its or their obligations to purchase shares of Stock hereunder on any Closing Date and the aggregate number of shares which such defaulting Underwriter or Underwriters agreed but failed to purchase does not exceed ten percent (10%)
of the total number of shares to be purchased by all Underwriters on such Closing Date, the other Underwriters shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the shares which such defaulting
Underwriter or Underwriters agreed but failed to purchase on such Closing Date. If any Underwriter or Underwriters shall so default and the aggregate number of shares with respect to which such default or defaults occur is more than ten percent
(10%) of the total number of shares to be purchased by all Underwriters on such Closing Date and arrangements satisfactory to the Representatives and the Company for the purchase of such shares by other persons are not made within <FONT
STYLE="white-space:nowrap">forty-eight</FONT> (48)&nbsp;hours after such default, this Agreement shall terminate. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If the remaining
Underwriters or substituted Underwriters are required hereby or agree to take up all or part of the shares of Stock of a defaulting Underwriter or Underwriters on such Closing Date as </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">27 </P>


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provided in this <U>Section</U><U></U><U>&nbsp;10</U>, (i) the Company shall have the right to postpone such Closing Dates for a period of not more than five (5)&nbsp;full business days in order
that the Company may effect whatever changes may thereby be made necessary in the Registration Statements or the Prospectus, or in any other documents or arrangements, and the Company agrees promptly to file any amendments to the Registration
Statements or supplements to the Prospectus which may thereby be made necessary, and (ii)&nbsp;the respective numbers of shares to be purchased by the remaining Underwriters or substituted Underwriters shall be taken as the basis of their
underwriting obligation for all purposes of this Agreement. Nothing herein contained shall relieve any defaulting Underwriter of its liability to the Company or the other Underwriters for damages occasioned by its default hereunder. Any termination
of this Agreement pursuant to this <U>Section</U><U></U><U>&nbsp;10</U> shall be without liability on the part of any <FONT STYLE="white-space:nowrap">non-defaulting</FONT> Underwriter or the Company, except that the representations, warranties,
covenants, indemnities, agreements and other statements set forth in <U>Section</U><U></U><U>&nbsp;2</U>, the obligations with respect to expenses to be paid or reimbursed to <FONT STYLE="white-space:nowrap">non-defaulting</FONT> Underwriters
pursuant to <U>Sections 5</U> and <U>9</U> and the provisions of <U>Section</U><U></U><U>&nbsp;7</U> and <U>Sections 11</U> through <U>21</U>, inclusive, shall not terminate and shall remain in full force and effect, and provided that any such
termination shall not relieve a defaulting Underwriter from liability for its default. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">11<I>.</I>&nbsp;&nbsp;&nbsp;&nbsp;<I>A<SMALL>BSENCE</SMALL>
<SMALL>OF</SMALL> F<SMALL>IDUCIARY</SMALL> R<SMALL>ELATIONSHIP</SMALL>. </I>The Company acknowledges and agrees that: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(a)
&nbsp;&nbsp;&nbsp;&nbsp;each Underwriter &#146;s responsibility to the Company is solely contractual in nature, the Representatives have been retained solely to act as underwriters in connection with the sale of the Stock and no fiduciary, advisory
or agency relationship between the Company and the Representatives has been created in respect of any of the transactions contemplated by this Agreement, irrespective of whether the Representatives have advised or are advising the Company on other
matters; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(b) &nbsp;&nbsp;&nbsp;&nbsp;the price of the Stock set forth in this Agreement was established by the Company following
discussions and arms-length negotiations with the Representatives, and the Company is capable of evaluating and understanding, and understands and accepts, the terms, risks and conditions of the transactions contemplated by this Agreement; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(c) &nbsp;&nbsp;&nbsp;&nbsp;it has been advised that the Representatives and their affiliates are engaged in a broad range of transactions
which may involve interests that differ from those of the Company and that the Representatives have no obligation to disclose such interests and transactions to the Company by virtue of any fiduciary, advisory or agency relationship; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(d) &nbsp;&nbsp;&nbsp;&nbsp;it waives, to the fullest extent permitted by law, any claims it may have against the Representatives for breach of
fiduciary duty or alleged breach of fiduciary duty and agrees that the Representatives shall have no liability (whether direct or indirect) to the Company in respect of such a fiduciary duty claim or to any person asserting a fiduciary duty claim on
behalf of or in right of the Company, including stockholders, employees or creditors of the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">12.&nbsp;&nbsp;&nbsp;&nbsp;<I>S<SMALL>UCCESSORS</SMALL>; P<SMALL>ERSONS</SMALL> E<SMALL>NTITLED</SMALL> <SMALL>TO</SMALL> B<SMALL>ENEFIT</SMALL>
<SMALL>OF</SMALL> A<SMALL>GREEMENT</SMALL></I><SMALL></SMALL>. This Agreement shall inure to the benefit of and be binding upon the several Underwriters, the Company and their respective successors and assigns. Nothing expressed or mentioned in this
Agreement is intended or shall be construed to give any person, other than the persons mentioned in the preceding sentence, any legal or equitable right, remedy or claim under or in respect of this Agreement, or any provisions herein contained, this
Agreement and all conditions and provisions hereof being intended to be and being for the sole and exclusive benefit of such persons and for the benefit of no other person; except that the representations, warranties, covenants, agreements and
indemnities of the Company contained in this Agreement shall also be for the benefit of the Underwriter Indemnified Parties, and the indemnities of the several Underwriters shall be for the benefit of the Company Indemnified Parties. It is
understood that each Underwriter&#146;s responsibility to the Company is solely contractual in nature and the Underwriters do not owe the Company, or any other party, any fiduciary duty as a result of this Agreement. No purchaser of any of the Stock
from any Underwriter shall be deemed to be a successor or assign by reason merely of such purchase. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">28 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">13.&nbsp;&nbsp;&nbsp;&nbsp;<I>S<SMALL>URVIVAL</SMALL> <SMALL>OF</SMALL> I<SMALL>NDEMNITIES</SMALL>,
R<SMALL>EPRESENTATIONS</SMALL>, W<SMALL>ARRANTIES</SMALL>, <SMALL>ETC</SMALL></I><SMALL><I></I></SMALL><I>. </I>The respective indemnities, covenants, agreements, representations, warranties and other statements of the Company and the several
Underwriters, as set forth in this Agreement or made by them respectively, pursuant to this Agreement, shall remain in full force and effect, regardless of any investigation made by or on behalf of any Underwriter, the Company or any person
controlling any of them and shall survive delivery of and payment for the Stock. Notwithstanding any termination of this Agreement, including without limitation any termination pursuant to <U>Section</U><U></U><U>&nbsp;8</U> or
<U>Section</U><U></U><U>&nbsp;10</U>, the indemnities, covenants, agreements, representations, warranties and other statements forth in <U>Sections 2</U>, <U>5</U>, <U>7</U> and <U>9</U> and <U>Sections 11</U> through <U>21</U>, inclusive, of this
Agreement shall not terminate and shall remain in full force and effect at all times. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">14.&nbsp;&nbsp;&nbsp;&nbsp;<I>N<SMALL>OTICES</SMALL></I><SMALL></SMALL>. All statements, requests, notices and agreements hereunder shall be in writing, and:
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp; if to the Underwriters, shall be delivered or sent by mail, telex, facsimile transmission or email to the
Representatives: (i)&nbsp;c/o Cowen and Company, LLC, Attention: Head of Equity Capital Markets, Fax: (646) <FONT STYLE="white-space:nowrap">562-1124</FONT> with a copy to the General Counsel, Fax: (646)
<FONT STYLE="white-space:nowrap">562-1861;</FONT> (ii) RBC Capital Markets, LLC, Attention Head of Healthcare Equity Capital Markets, Fax: (212) <FONT STYLE="white-space:nowrap">428-7479</FONT> with a copy to the General Counsel, Fax: (212) <FONT
STYLE="white-space:nowrap">428-7479;</FONT> and (iii)&nbsp;William Blair&nbsp;&amp; Company, L.L.C., The William Blair Building, 150 North Riverside Plaza, Chicago, IL 60606, Attention: Head of Healthcare Equity Capital Markets, with a copy to the
General Counsel; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;if to the Company shall be delivered or sent by mail, telex, facsimile transmission or
email to Dynavax Technologies Corporation Attention: General Counsel, Fax: (510) <FONT STYLE="white-space:nowrap">848-1376;</FONT> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><I>provided, however,</I> that any notice to an Underwriter pursuant to <U>Section</U><U></U><U>&nbsp;7</U> shall be delivered or sent by mail,
or facsimile transmission to such Underwriter at its address set forth in its acceptance telex to the Representatives, which address will be supplied to any other party hereto by the Representatives upon request. Any such statements, requests,
notices or agreements shall take effect at the time of receipt thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">15.&nbsp;&nbsp;&nbsp;&nbsp;<I>D<SMALL>EFINITION</SMALL> <SMALL>OF</SMALL>
C<SMALL>ERTAIN</SMALL> T<SMALL>ERMS</SMALL></I><SMALL></SMALL>. For purposes of this Agreement, (a) &#147;<B>business day</B>&#148; means any day on which the NASDAQ Capital Market is open for trading and (b) &#147;<B>subsidiary</B>&#148; has the
meaning set forth in Rule&nbsp;405 under the Securities Act. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">16.&nbsp;&nbsp;&nbsp;&nbsp;<B><I>G<SMALL>OVERNING</SMALL> L<SMALL>AW</SMALL>
<SMALL>AND</SMALL> J<SMALL>URISDICTION</SMALL></I></B><SMALL><I></I></SMALL><I>.</I><B> This Agreement and any claim, controversy or dispute arising under or related to this Agreement shall be governed by and construed in accordance with the laws of
the State of New York, including without limitation Section</B><B></B><B><FONT STYLE="white-space:nowrap">&nbsp;5-1401</FONT> of the New York General Obligations. </B>The Company irrevocably (a)&nbsp;submits to the
<FONT STYLE="white-space:nowrap">non-exclusive</FONT> jurisdiction of the Federal and state courts in the Borough of Manhattan in The City of New York for the purpose of any suit, action or other proceeding arising out of this Agreement or the
transactions contemplated by this Agreement, the Registration Statement and any Preliminary Prospectus, the Time of Sale Disclosure Package or the Prospectus, (b)&nbsp;agrees that all claims in respect of any such suit, action or proceeding may be
heard and determined by any such court, (c)&nbsp;waives to the fullest extent permitted by applicable law, any immunity from the jurisdiction of any such court or from any legal process, (d)&nbsp;agrees not to commence any such suit, action or
proceeding other than in such courts, and (e)&nbsp;waives, to the fullest extent permitted by applicable law, any claim that any such suit, action or proceeding is brought in an inconvenient forum. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">17.&nbsp;&nbsp;&nbsp;&nbsp;<I>U<SMALL>NDERWRITERS</SMALL></I><SMALL><I></I></SMALL><I>&#146;</I><I>
I<SMALL>NFORMATION</SMALL></I><SMALL><I></I></SMALL><I>.</I> The parties hereto acknowledge and agree that, for all purposes of this Agreement, the Underwriters&#146; Information consists solely of the following information in the Prospectus: the
statements concerning the Underwriters contained in the fourth, seventh through eleventh and fourteenth through nineteenth paragraphs under the heading &#147;Underwriting.&#148; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">29 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">18.&nbsp;&nbsp;&nbsp;&nbsp;<I>A<SMALL>UTHORITY</SMALL> <SMALL>OF</SMALL> <SMALL>THE</SMALL>
R<SMALL>EPRESENTATIVES</SMALL>.</I> In connection with this Agreement, Cowen and Company, LLC, RBC Capital Markets, LLC and William Blair&nbsp;&amp; Company, L.L.C. will act for and on behalf of the several Underwriters, and any action taken under
this Agreement by the Representatives, will be binding on all the Underwriters. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">19.&nbsp;&nbsp;&nbsp;&nbsp;<I>P<SMALL>ARTIAL</SMALL>
U<SMALL>NENFORCEABILITY</SMALL></I><SMALL></SMALL>. The invalidity or unenforceability of any section, paragraph, clause or provision of this Agreement shall not affect the validity or enforceability of any other section, paragraph, clause or
provision hereof. If any section, paragraph, clause or provision of this Agreement is for any reason determined to be invalid or unenforceable, there shall be deemed to be made such minor changes (and only such minor changes) as are necessary to
make it valid and enforceable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">20.&nbsp;&nbsp;&nbsp;&nbsp;<I>G<SMALL>ENERAL</SMALL></I><SMALL></SMALL>. This Agreement constitutes the entire agreement
of the parties to this Agreement and supersedes all prior written or oral and all contemporaneous oral agreements, understandings and negotiations with respect to the subject matter hereof. In this Agreement, the masculine, feminine and neuter
genders and the singular and the plural include one another. The section headings in this Agreement are for the convenience of the parties only and will not affect the construction or interpretation of this Agreement. This Agreement may be amended
or modified, and the observance of any term of this Agreement may be waived, only by a writing signed by the Company and the Representatives. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">21.&nbsp;&nbsp;&nbsp;&nbsp;<I>C<SMALL>OUNTERPARTS</SMALL></I><SMALL></SMALL>. This Agreement may be signed in any number of counterparts, each of which shall
be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[signature page follows] </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">30 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If the foregoing is in accordance with your understanding of the agreement between the Company
and the several Underwriters, kindly indicate your acceptance in the space provided for that purpose below. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="80%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">Very truly yours,</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">D<SMALL>YNAVAX</SMALL> T<SMALL>ECHNOLOGIES</SMALL> C<SMALL>ORPORATION</SMALL></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Michael S. Ostrach</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Michael S. Ostrach</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Senior Vice President</TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="7%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="13%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="78%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Accepted as of</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">the date first above
written:</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">C<SMALL>OWEN</SMALL> <SMALL>AND</SMALL> C<SMALL>OMPANY</SMALL>, LLC</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">RBC C<SMALL>APITAL</SMALL> M<SMALL>ARKETS</SMALL>, LLC</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">W<SMALL>ILLIAM</SMALL> B<SMALL>LAIR</SMALL>&nbsp;&amp; C<SMALL>OMPANY</SMALL>, L.L.C.</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Each acting on their own behalf and as</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Representatives of the several Underwriters</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">referred to in the
foregoing Agreement.</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">C<SMALL>OWEN</SMALL> <SMALL>AND</SMALL> C<SMALL>OMPANY</SMALL>, LLC</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Grant Miller</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Grant Miller</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Head of Equity Capital Markets</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">RBC C<SMALL>APITAL</SMALL> M<SMALL>ARKETS</SMALL>, LLC</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jennifer Caruso</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Jennifer Caruso</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Managing Director</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">W<SMALL>ILLIAM</SMALL> B<SMALL>LAIR</SMALL>&nbsp;&amp; C<SMALL>OMPANY</SMALL>, L.L.C.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Steve Maletzky</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Steve Maletzky</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Partner, Managing Director</TD></TR>
</TABLE>

<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SCHEDULE A </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="64%"></TD>
<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:19.10pt; font-size:8pt; font-family:Times New Roman">Name</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Number&nbsp;of&nbsp;Shares&nbsp;of<BR>Firm&nbsp;Stock&nbsp;to&nbsp;be<br>Purchased</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Number&nbsp;of&nbsp;Shares&nbsp;of<BR>Optional&nbsp;Stock&nbsp;to&nbsp;be<br>Purchased</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cowen and Company, LLC</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,500,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">375,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">RBC Capital Markets, LLC</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,125,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">168,750</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">William Blair&nbsp;&amp; Company, L.L.C.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,125,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">168,750</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cantor Fitzgerald&nbsp;&amp; Co.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">250,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">37,500</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">750,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SCHEDULE B </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">None. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SCHEDULE C </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Public Offering Price: $15.00 per share </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Number of Shares of
Firm Stock: 5,000,000 shares </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Number of Shares of Optional Stock: 750,000 shares </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Underwriting Discount: 6.0% </P>

<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SCHEDULE D </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Laura Brege </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Eddie Gray </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Francis R. Cano </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dennis Carson </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Robert Coffman </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dave Johnson </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dan Kisner </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Arnold Oronsky </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Michael Ostrach </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Peggy Phillips </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Stanley Plotkin </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Robert Janssen </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Natale Ricciardi </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">David Novack </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Exhibit I </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Form of <FONT STYLE="white-space:nowrap">Lock-Up</FONT> Agreement </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">August &nbsp;&nbsp;&nbsp;&nbsp;, 2017 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">C<SMALL>OWEN</SMALL> <SMALL>AND</SMALL> C<SMALL>OMPANY</SMALL>, LLC </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;As Representative of the several Underwriters </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">c/o C<SMALL>OWEN</SMALL> <SMALL>AND</SMALL> C<SMALL>OMPANY</SMALL>, LLC </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">599 Lexington Avenue, 27th Floor </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">New York, NY 10022 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Re: <U>Dynavax Technologies Corporation</U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Sirs: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This Agreement is being delivered to you in connection with the proposed Underwriting Agreement (the &#147;Underwriting Agreement&#148;) between Dynavax
Technologies Corporation, a Delaware corporation (the &#147;Company&#148;), and Cowen and Company, LLC (&#147;Cowen&#148;), as representative of a group of underwriters (collectively, the &#147;Underwriters&#148;), to be named therein, relating to
the proposed public offering (the &#147;Offering&#148;) of shares of common stock, par value $0.001 per share (the &#147;Common Stock&#148;), of the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In order to induce you and the other Underwriters to enter into the Underwriting Agreement, and in light of the benefits that the Offering of the Common Stock
will confer upon the undersigned in its capacity as a securityholder and/or an officer, director or employee of the Company, and for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the undersigned
agrees with each Underwriter that, during the period beginning on the date hereof through and including the date that is the 90th day after the date of the Underwriting Agreement (the <FONT STYLE="white-space:nowrap">&#147;Lock-Up</FONT>
Period&#148;), the undersigned will not, without the prior written consent of Cowen, directly or indirectly, (i)&nbsp;offer, sell, assign, transfer, pledge, contract to sell, or otherwise dispose of, or announce the intention to otherwise dispose
of, any shares of Common Stock (including, without limitation, Common Stock which may be deemed to be beneficially owned by the undersigned in accordance with the rules and regulations promulgated under the Securities Act of 1933, as amended (the
&#147;Securities Act&#148;)(such shares, the &#147;Beneficially Owned Shares&#148;)) or securities convertible into or exercisable or exchangeable for Common Stock, (ii)&nbsp;enter into any swap, hedge or similar agreement or arrangement that
transfers in whole or in part, the economic risk of ownership of the Beneficially Owned Shares or securities convertible into or exercisable or exchangeable for Common Stock, whether now owned or hereafter acquired by the undersigned or with respect
to which the undersigned has or hereafter acquires the power of disposition, or (iii)&nbsp;engage in any short selling of the Common Stock or securities convertible into or exercisable or exchangeable for Common Stock.</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The restrictions set forth in the immediately preceding paragraph shall not apply to: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(1)&nbsp;&nbsp;&nbsp;&nbsp;any transfers made by the undersigned (a)&nbsp;as a bona fide gift to any member of the immediate family (as defined
below) of the undersigned or to a trust the beneficiaries of which are exclusively the undersigned or members of the undersigned&#146;s immediate family, (b)&nbsp;by will or intestate succession upon the death of the undersigned or (c)&nbsp;as a
bona fide gift to a charity or educational institution, </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(2)&nbsp;&nbsp;&nbsp;&nbsp;transactions relating to Common Stock or other securities convertible
into or exercisable or exchangeable for Common Stock acquired in open market transactions after completion of the Offering, provided that no such transaction is required to be, or is, publicly announced (whether on Form 4, Form 5 or otherwise)
during the <FONT STYLE="white-space:nowrap">Lock-Up</FONT> Period, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(3)&nbsp;&nbsp;&nbsp;&nbsp;the entry, by the undersigned, at any time
on or after the date of the Underwriting Agreement, of any trading plan providing for the sale of Common Stock by the undersigned, which trading plan meets the requirements of Rule <FONT STYLE="white-space:nowrap">10b5-1(c)</FONT> under the Exchange
Act and does not provide for, or permit, the sale of any Common Stock during the <FONT STYLE="white-space:nowrap">Lock-up</FONT> Period; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(4)&nbsp;&nbsp;&nbsp;&nbsp;any transfers made by the undersigned to the Company to satisfy tax withholding obligations pursuant to the
Company&#146;s equity incentive plans or arrangements disclosed in the Prospectus (as defined in the Underwriting Agreement); and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(5)
&nbsp;&nbsp;&nbsp;&nbsp;any transfers made by the undersigned to the Company in connection with the repurchase of shares of Common Stock or other securities convertible into or exercisable or exchangeable for Common Stock as required by the terms of
(i)&nbsp;any equity incentive plans disclosed in the Prospectus or (ii)&nbsp;any agreements pursuant to which such shares of Common Stock were issued; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">provided, however, that (i)&nbsp;in the case of any transfer described in clause&nbsp;(1) above, it shall be a condition to the transfer that the transferee
executes and delivers to Cowen, acting on behalf of the Underwriters, not later than one business day prior to such transfer, a written agreement, in substantially the form of this Agreement (it being understood that any references to
&#147;immediate family&#148; in the agreement executed by such transferee shall expressly refer only to the immediate family of the undersigned and not to the immediate family of the transferee) and otherwise satisfactory in form and substance to
Cowen, and (ii)&nbsp;in the case of any transfer described in clause (1), (4) or (5)&nbsp;above, if the undersigned is required to file a report under Section&nbsp;16(a) of the Exchange Act reporting a reduction in beneficial ownership of shares of
Common Stock or Beneficially Owned Shares or any securities convertible into or exercisable or exchangeable for Common Stock or Beneficially Owned Shares during the <FONT STYLE="white-space:nowrap">Lock-Up</FONT> Period (as the same may be extended
as described above), the undersigned shall include a statement in such report to the effect that, (A)&nbsp;in the case of any transfer pursuant to clause&nbsp;(1) above, such transfer is being made as a gift or by will or intestate succession, and
(B)&nbsp;in the case of any transfer pursuant to clause (4)&nbsp;above, such transfer is being made to satisfy tax withholding obligations and (C)&nbsp;in the case of any transfer pursuant to clause (5)&nbsp;above, such transfer is being made as
required by the applicable plan or agreement. For purposes of this paragraph, &#147;immediate family&#148; shall mean a spouse, domestic partner, child, grandchild or other lineal descendant (including by adoption), father, mother, brother or sister
of the undersigned. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For avoidance of doubt, nothing in this Agreement prohibits the undersigned from exercising any options or warrants to purchase
Common Stock (which exercises may be effected on a cashless basis to the extent the instruments representing such options or warrants permit exercises on a cashless basis), it being understood that any Common Stock issued upon such exercises will be
subject to the restrictions of this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In order to enable this covenant to be enforced, the undersigned hereby consents to the entry of stop
transfer instructions with the Company&#146;s transfer agent with respect to any Common Stock or securities convertible into or exercisable or exchangeable for Common Stock. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The undersigned further agrees that it will not, during the <FONT STYLE="white-space:nowrap">Lock-Up</FONT>
Period, make any demand or request for or exercise any right with respect to the registration under the Securities Act of any shares of Common Stock or other Beneficially Owned Shares or any securities convertible into or exercisable or exchangeable
for Common Stock or other Beneficially Owned Shares. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This Agreement and all authority herein conferred are irrevocable and shall survive the death or
incapacity of the undersigned and shall be binding upon the heirs, personal representatives, successors and assigns of the undersigned. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If (i)&nbsp;the
Company notifies Cowen in writing that it does not intend to proceed with the Offering, (ii)&nbsp;the Underwriting Agreement is not executed by August&nbsp;31, 2017, or (iii)&nbsp;the Underwriting Agreement (other than the provisions thereof which
survive termination) shall terminate or be terminated for any reason prior to payment for and delivery of any Common Stock to be sold thereunder, then this Agreement shall immediately be terminated and the undersigned shall automatically be released
from all of his or her obligations under this Agreement. The undersigned acknowledges and agrees that whether or not any Offering of Common Stock actually occurs depends on a number of factors, including market conditions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This Agreement shall be governed by and construed in accordance with the internal laws of the State of New York applicable to agreements made and to be
performed in such state. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">* * * * * </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


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<TD VALIGN="top" COLSPAN="3">Very truly yours,</TD></TR>
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<TD HEIGHT="16" COLSPAN="3"></TD></TR>
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<TD VALIGN="top" COLSPAN="3">Printed Name of Holder</TD></TR>
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<TD VALIGN="top" COLSPAN="3">(Signature)</TD></TR>
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<TD VALIGN="top">Address:</TD>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Exhibit II </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Certificate of Chief Financial Officer </U></B></P>
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<DESCRIPTION>EX-5.1
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>E<SMALL>XHIBIT</SMALL> 5.1 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g430663g0810075352949.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Glen Y. Sato </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">+1 650 843 5502
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">gsato@cooley.com </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">August&nbsp;9, 2017 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dynavax Technologies Corporation </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2929 Seventh Street, Suite 100
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Berkeley, California 94710-2753 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We have acted as counsel to Dynavax Technologies Corporation, a Delaware corporation (the &#147;<B><I>Company</I></B>&#148;), in connection with the offering
of up to 5,750,000 shares (the &#147;<B><I>Shares</I></B>&#148;) of the Company&#146;s common stock, par value $0.001 per share (the &#147;<B><I>Common Stock</I></B>&#148;), to be issued pursuant to that certain Underwriting Agreement (the
&#147;<B><I>Agreement</I></B>&#148;), dated August&nbsp;9, 2017, between the Company and Cowen and Company, LLC, RBC Capital Markets, LLC and William Blair&nbsp;&amp; Company, L.L.C., as representatives (the
&#147;<B><I>Representatives</I></B>&#148;) of the underwriters named in Schedule A thereto (and the preferred stock purchase rights (the &#147;<B><I>Rights</I></B>&#148;) associated with the Common Stock to be issued pursuant to that certain Rights
Agreement (the &#147;<B><I>Rights Agreement</I></B>&#148;), dated November&nbsp;5, 2008, between the Company and Mellon Investor Services LLC, as Rights Agent (the &#147;<B><I>Rights Agent</I></B>&#148;), pursuant to the Registration Statement <FONT
STYLE="white-space:nowrap">No.&nbsp;333-219781</FONT> (the &#147;<B><I>Registration Statement</I></B>&#148;), filed with the Securities and Exchange Commission (the &#147;<B><I>Commission</I></B>&#148;) under the Securities Act of 1933, as amended
(the &#147;<B><I>Act</I></B>&#148;), the prospectus included therein (the &#147;<B><I>Base Prospectus</I></B>&#148;), and the related final prospectus supplement dated August&nbsp;9, 2017, filed with the Commission pursuant to Rule 424(b) of the
Rules and Regulations of the Act (together with the Base Prospectus, the &#147;<B><I>Prospectus</I></B>&#148;). The Shares are to be sold by the Company as described in the Registration Statement and the Prospectus. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with this opinion, we have examined and relied upon the Registration Statement and the Prospectus, the Company&#146;s Sixth Amended Restated
Certificate of Incorporation (as amended) and Amended and Restated Bylaws, the Agreement, the Rights Agreement and the originals or copies certified to our satisfaction of such records, documents, certificates, memoranda and other instruments as in
our judgment are necessary or appropriate to enable us to render the opinion expressed below. We have assumed the genuineness and authenticity of all documents submitted to us as originals, and the conformity to originals of all documents submitted
to us as copies; the accuracy, completeness and authenticity of certificates of public officials, and the due execution and delivery of all documents where due execution and delivery are a prerequisite to the effectiveness thereof. As to certain
factual matters, we have relied upon a certificate of an officer of the Company and have not independently sought to verify such matters. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We have also
assumed that the Rights Agreement has been duly authorized, executed and delivered by the Rights Agent and that the members of the Board of Directors of the Company have acted in a manner consistent with their fiduciary duties as required under
applicable law in adopting the Rights Agreement. This opinion does not address whether the Board of Directors of the Company may be required to redeem or terminate, or take other action with respect to, the Rights in the future based on the facts
and circumstances then existing. Moreover, this </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">COOLEY
LLP&nbsp;&nbsp;&nbsp;&nbsp;3175 HANOVER STREET&nbsp;&nbsp;&nbsp;&nbsp;PALO ALTO, CA&nbsp;&nbsp;&nbsp;&nbsp;94304-1130 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">T: (650) <FONT
STYLE="white-space:nowrap">843-5000&nbsp;&nbsp;F:</FONT> (650) <FONT STYLE="white-space:nowrap">849-7400&nbsp;&nbsp;COOLEY.COM</FONT> </P>


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 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dynavax Technologies Corporation </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">August 9, 2017 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Page Two </P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
opinion addresses corporate procedures in connection with the issuance of the Rights associated with the Shares, and not any particular provision of the Rights or the Rights Agreement. It should
be understood that it is not settled whether the invalidity of any particular provision of a rights agreement or purchase rights issued thereunder would invalidate such rights in their entirety. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Our opinion is expressed only with respect to the General Corporation Law of the State of Delaware. We express no opinion as to whether the laws of any
particular jurisdiction are applicable to the subject matter hereof. We are not rendering any opinion as to compliance with any federal or state rule or regulation relating to securities, or to the sale or issuance thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On the basis of the foregoing, and in reliance thereon, we are of the opinion that the Shares and the associated Rights, when sold in accordance with the
Agreement, the Rights Agreement, the Registration Statement and the Prospectus, will be validly issued, and the Shares will be fully paid and nonassessable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We consent to the reference to our firm under the caption &#147;Legal Matters&#148; in the Prospectus included in the Registration Statement and to the filing
of this opinion as an exhibit to a current report of the Company on Form <FONT STYLE="white-space:nowrap">8-K</FONT> for incorporation by reference into the Registration Statement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Sincerely, </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" COLSPAN="3"><B>C<SMALL>OOLEY</SMALL> <SMALL>LLP</SMALL></B></TD></TR>
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<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Glen Y. Sato</P></TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Glen Y. Sato</TD></TR>
</TABLE> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
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#'__9

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
