<SEC-DOCUMENT>0001206774-13-001332.txt : 20130405
<SEC-HEADER>0001206774-13-001332.hdr.sgml : 20130405
<ACCEPTANCE-DATETIME>20130405161552
ACCESSION NUMBER:		0001206774-13-001332
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		8
CONFORMED PERIOD OF REPORT:	20130522
FILED AS OF DATE:		20130405
DATE AS OF CHANGE:		20130405
EFFECTIVENESS DATE:		20130405

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GERON CORP
		CENTRAL INDEX KEY:			0000886744
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				752287752
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-20859
		FILM NUMBER:		13746096

	BUSINESS ADDRESS:	
		STREET 1:		149 COMMONWEALTH DRIVE
		STREET 2:		SUITE 2070
		CITY:			MENLO PARK
		STATE:			CA
		ZIP:			94025
		BUSINESS PHONE:		6504737700

	MAIL ADDRESS:	
		STREET 1:		149 COMMONWEALTH DRIVE
		STREET 2:		SUITE 2070
		CITY:			MENLO PARK
		STATE:			CA
		ZIP:			94025

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GERON CORPORATION
		DATE OF NAME CHANGE:	19960521
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>geron_def14a.htm
<DESCRIPTION>DEFINITIVE PROXY STATEMENT
<TEXT>

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<P align=center><B><FONT face="Times New Roman" size=2>UNITED STATES<BR></FONT></B><B><FONT face="Times New Roman" size=2>SECURITIES AND EXCHANGE COMMISSION<BR>Washington, D.C.
20549</FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2>SCHEDULE 14A<BR></FONT></B><B><FONT face="Times New Roman" size=2>Proxy Statement Pursuant to Section 14(a) of the<BR>Securities
Exchange Act of 1934<BR>(Amendment No. __ )</FONT></B></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="100%" colSpan=3><FONT face="Times New Roman" size=2>Filed by the Registrant
      <FONT face=Wingdings>x</FONT></FONT></TD></TR>
  <TR>
    <TD width="100%" colSpan=3>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="100%" colSpan=3><FONT face="Times New Roman" size=2>Filed by a Party other
      than the Registrant <FONT face=Wingdings>o</FONT></FONT></TD></TR>
  <TR>
    <TD width="100%" colSpan=3>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="100%" colSpan=3><FONT face="Times New Roman" size=2>Check the appropriate
      box:</FONT></TD></TR>
  <TR>
    <TD noWrap align=left width="100%" colSpan=3>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"><FONT face=Wingdings size=2>o</FONT></TD>
    <TD noWrap align=left width="1%"><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD noWrap align=left width="98%"><FONT face="Times New Roman" size=2>Preliminary Proxy Statement</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"><FONT face=Wingdings size=2>o</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="98%"><B><FONT face="Times New Roman" size=2>Confidential, For Use of
      the Commission Only (as permitted by Rule 14a-6(e)(2))</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"><FONT face=Wingdings size=2>x</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="98%"><FONT face="Times New Roman" size=2>Definitive Proxy Statement</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"><FONT face=Wingdings size=2>o</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="98%"><FONT face="Times New Roman" size=2>Definitive Additional Materials</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"><FONT face=Wingdings size=2>o</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="98%"><FONT face="Times New Roman" size=2>Soliciting Materials Pursuant to
      &#167;240.14a-12</FONT></TD></TR></TABLE><BR>
<DIV align=center>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="40%" border=0>

  <TR>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" width="100%">
      <P align=center><B><FONT face="Times New Roman" size=2>GERON CORPORATION
      </FONT></B></P></TD></TR>
  <TR>
    <TD style="text-align: center" width="100%">
      <P align=center><FONT face="Times New Roman" size=2>(Name of Registrant as Specified
      in its Charter)</FONT></P></TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" width="100%">&nbsp;</TD></TR>
  <TR>
    <TD style="text-align: center" width="100%">
      <P align=center><FONT face="Times New Roman" size=2>(Name of Person(s) Filing Proxy
      Statement,</FONT></P></TD></TR>
  <TR>
    <TD style="text-align: center" width="100%">
      <P align=center><FONT face="Times New Roman" size=2>if Other Than the
      Registrant)</FONT></P></TD></TR></TABLE></DIV>
<P align=left><FONT face="Times New Roman" size=2>Payment of Filing Fee (Check the
appropriate box):</FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%"><FONT face=Wingdings size=2>x</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD vAlign=top noWrap align=left width="97%" colSpan=3><FONT face="Times New Roman" size=2>No
      fee required.</FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="97%" colSpan=3>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%"><FONT face=Wingdings size=2>o</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="97%" colSpan=3><FONT face="Times New Roman" size=2>Fee computed on table
      below per Exchange Act Rules 14a-6(i)(1) and 0-11.</FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="97%" colSpan=3>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"><FONT face="Times New Roman" size=2>1)</FONT></TD>
    <TD vAlign=top align=left width="1%"><FONT face="Times New Roman" size=2></FONT></TD>
    <TD vAlign=top align=left width="95%"><FONT face="Times New Roman" size=2>Title of each class of securities to
      which transaction applies:</FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=left width="95%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=top align=left width="1%"><FONT face="Times New Roman" size=2>2)</FONT></TD>
    <TD vAlign=top align=left width="1%">&nbsp;</TD>
    <TD vAlign=top align=left width="95%"><FONT face="Times New Roman" size=2>Aggregate number of securities to
      which transaction applies:</FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=left width="95%">&nbsp;</TD></TR>
  <TR style="LINE-HEIGHT: normal" vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=top align=left width="1%"><FONT face="Times New Roman" size=2>3)</FONT></TD>
    <TD vAlign=top align=left width="1%"><FONT face="Times New Roman" size=2></FONT></TD>
    <TD vAlign=top align=left width="95%"><FONT face="Times New Roman" size=2>Per unit price or other underlying
      value of transaction computed pursuant to Exchange Act Rule 0-11 (set
      forth the amount on which the filing fee is calculated and state how it
      was determined):</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=left width="95%"><FONT face="Times New Roman" size=2>&nbsp;</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"><FONT face="Times New Roman" size=2>4)</FONT></TD>
    <TD vAlign=top align=left width="1%"><FONT face="Times New Roman" size=2></FONT></TD>
    <TD vAlign=top align=left width="95%"><FONT face="Times New Roman" size=2>Proposed maximum aggregate value of
      transaction:</FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=left width="95%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"><FONT face="Times New Roman" size=2>5)</FONT></TD>
    <TD vAlign=top align=left width="1%"><FONT face="Times New Roman" size=2></FONT></TD>
    <TD vAlign=top align=left width="95%"><FONT face="Times New Roman" size=2>Total fee paid:</FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=left width="95%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="97%" colSpan=3>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%"><FONT face=Wingdings size=2>o</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="97%" colSpan=3><FONT face="Times New Roman" size=2>Fee paid previously with
      preliminary materials.</FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="97%" colSpan=3>&nbsp;</TD></TR>
  <TR style="LINE-HEIGHT: normal" vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%"><FONT face=Wingdings size=2>o</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="97%" colSpan=3><FONT face="Times New Roman" size=2>Check box if any part of
      the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify
      the filing for which the offsetting fee was paid previously. Identify the
      previous filing by registration statement number, or the Form or Schedule
      and the date of its filing.</FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="97%" colSpan=3>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%"><FONT face="Times New Roman" size=2></FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"><FONT size=2 face="Times New Roman">1</FONT><FONT size=2 face="Times New Roman">)</FONT></TD>
    <TD vAlign=top align=left width="1%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT></TD>
    <TD vAlign=top align=left width="95%"><FONT face="Times New Roman" size=2>Amount Previously Paid:</FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=left width="95%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%"><FONT face="Times New Roman" size=2></FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"><FONT size=2 face="Times New Roman">2</FONT><FONT size=2 face="Times New Roman">)</FONT></TD>
    <TD vAlign=top align=left width="1%"><FONT face="Times New Roman" size=2></FONT></TD>
    <TD vAlign=top align=left width="95%"><FONT face="Times New Roman" size=2>Form, Schedule or Registration
      Statement No.:</FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=left width="95%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%"><FONT face="Times New Roman" size=2></FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"><FONT size=2 face="Times New Roman">3</FONT><FONT size=2 face="Times New Roman">)</FONT></TD>
    <TD vAlign=top align=left width="1%"><FONT face="Times New Roman" size=2></FONT>&nbsp;</TD>
    <TD vAlign=top align=left width="95%"><FONT face="Times New Roman" size=2>Filing Party:</FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=left width="95%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%"><FONT face="Times New Roman" size=2></FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"><FONT size=2 face="Times New Roman">4)</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"><FONT face="Times New Roman" size=2></FONT></TD>
    <TD vAlign=top noWrap align=left width="95%"><FONT face="Times New Roman" size=2>Date Filed:</FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=left width="95%">&nbsp;</TD></TR></TABLE><BR>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>

<P align=left><FONT face="Times New Roman" size=2><A HREF="#toc">Table of Contents</A></font></P>
<DIV align=left>
<P align=center><IMG src="geron_def14a1x1x1.jpg" border=0>&nbsp;<BR><B><FONT face="Times New Roman" size=4>GERON CORPORATION<BR></FONT></B><B><FONT face="Times New Roman" size=2>149
Commonwealth Drive, Suite 2070<BR>Menlo Park, CA 94025 </FONT></B></P></DIV>
<P align=justify><FONT face="Times New Roman" size=2>April 5, 2013</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2>Dear Stockholder: </FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Times New Roman" size=2>You are
cordially invited to attend the 2013 Annual Meeting of Stockholders of Geron
Corporation, which will be held on May 22, 2013 at 2:00 p.m. Pacific Daylight
Time at the Hyatt Regency Burlingame, 1333 Bayshore Highway, Burlingame, CA
94010. In addition, we will be hosting the meeting via conference call which can
be accessed via telephone by dialing 877-415-3185 (U.S.); 857-244-7328
(international). The passcode is 11038077. A live audio-only webcast will also
be available at http://edge.media-server.com/m/p/44bzyzur/lan/en. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>As permitted by the rules of the
Securities and Exchange Commission, or the SEC, we are also pleased to furnish
our proxy materials to stockholders primarily over the Internet. We believe this
process will expedite stockholders&#146; receipt of materials, lower the costs of our
annual meeting and reduce the environmental impact of printing and mailing hard
copies. Stockholders who continue to receive hard copies of proxy materials may
help us reduce costs by opting to receive future proxy materials by e-mail.
</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>On or about April 10, 2013, we will
distribute to our stockholders a notice containing instructions on how to access
our 2013 Proxy Statement and our 2012 Annual Report on Form 10-K, and how to
vote online. This notice also will include instructions on how you can receive a
paper copy of the proxy materials, including the notice of the Annual Meeting,
2013 Proxy Statement, 2012 Annual Report on Form 10-K and proxy card. If you
received your proxy materials by mail, the notice of Annual Meeting, 2013 Proxy
Statement, 2012 Annual Report on Form 10-K and proxy card from our Board of
Directors were enclosed. If you received your proxy materials via e-mail, the
e-mail contained voting instructions and links to the 2013 Proxy Statement and
2012 Annual Report on Form 10-K.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>At this year&#146;s Annual Meeting, the
agenda includes the following items: </FONT></P>
<UL style="FONT-SIZE: 10pt; text-align: justify"><LI><FONT face="Times New Roman" size=2>Election of Directors;</FONT> <BR>&nbsp;
  </LI><LI><FONT face="Times New Roman" size=2>Advisory vote to approve named executive officer
  compensation; and</FONT> <BR>&nbsp;
  </LI><LI><FONT face="Times New Roman" size=2>Ratification of Ernst &amp; Young LLP as our
  independent registered public accounting firm.</FONT> </LI></UL>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><u>Your vote is important to us</u>.
Whether or not you plan to attend the meeting, please vote electronically via
the Internet or by telephone, or, if you requested paper copies of the proxy
materials, please complete, sign, date and return the accompanying proxy in the
enclosed postage-paid envelope. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Thank you for your ongoing support
of, and continued interest in, Geron Corporation. </FONT></P>
<DIV align=right>
<TABLE cellSpacing=0 cellPadding=0 width="50%" border=0 style="line-height: 14pt; border-collapse: collapse">

  <TR>
    <TD width="100%">
      <P align=justify><FONT face="Times New Roman" size=2>Sincerely,<BR><IMG src="geron_def14a1x1x2.jpg" border=0><BR><FONT face="Times New Roman" size=2>John A. Scarlett, M.D.
      <BR></FONT><FONT face="Times New Roman" size=2>President and Chief Executive
      Officer</FONT></FONT></P></TD></TR></TABLE></DIV><BR>

<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2><A HREF="#toc">Table of Contents</A></font></P>
<DIV align=left>
<P align=center><IMG src="geron_def14a1x2x1.jpg" border=0>&nbsp;<BR><B><FONT face="Times New Roman" size=4>GERON CORPORATION<BR></FONT></B><B><FONT face="Times New Roman" size=2>149
Commonwealth Drive, Suite 2070<BR>Menlo Park, CA
94025<BR>________________<BR>&nbsp;<BR></FONT></B><B><FONT face="Times New Roman">NOTICE OF
ANNUAL MEETING OF STOCKHOLDERS<BR></FONT></B><B><FONT face="Times New Roman" size=2>To Be
Held on May 22, 2013</FONT></B></P></DIV>
<P align=justify><FONT face="Times New Roman" size=2>To the Stockholders of Geron
Corporation:</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Times New Roman" size=2>NOTICE IS
HEREBY GIVEN that the Annual Meeting of Stockholders of GERON CORPORATION, a
Delaware corporation (the &#147;Company&#148;), will be held on May 22, 2013, at 2:00 p.m.
Pacific Daylight Time at the Hyatt Regency Burlingame, 1333 Bayshore Highway,
Burlingame, CA 94010. Stockholders may also access the meeting via telephone by
dialing 877-415-3185 (U.S.); 857-244-7328 (international). The passcode is
11038077. A live audio-only webcast will also be available at
http://edge.media-server.com/m/p/44bzyzur/lan/en. The meeting will be held for
the following purposes:</FONT></P>
<TABLE style="TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>1.</FONT></TD>
    <TD vAlign=top noWrap><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH="100%" STYLE="text-align: justify"><FONT face="Times New Roman" size=2>To elect the two nominees for
      director named in the accompanying proxy statement, or the Proxy
      Statement, to hold office as a Class II member of the Board of Directors
      until the 2016 annual meeting of stockholders;</FONT></TD></TR>
  <TR>
    <TD></TD>
    <TD colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>2.</FONT></TD>
    <TD vAlign=top noWrap><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD>
    <TD WIDTH="100%" STYLE="text-align: justify"><FONT face="Times New Roman" size=2>To approve, on an advisory basis,
      the compensation of the Company&#146;s named executive officers, as disclosed
      in this Proxy Statement;</FONT></TD></TR>
  <TR>
    <TD></TD>
    <TD colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>3.</FONT></TD>
    <TD vAlign=top noWrap><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD>
    <TD WIDTH="100%" STYLE="text-align: justify"><FONT face="Times New Roman" size=2>To ratify the selection by the
      Audit Committee of the Board of Directors of Ernst &amp; Young LLP as the
      Company&#146;s independent registered public accounting firm for the fiscal
      year ending December 31, 2013; and</FONT></TD></TR>
  <TR>
    <TD></TD>
    <TD colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>4.</FONT></TD>
    <TD vAlign=top noWrap><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>To transact such other business
      as may properly come before the Annual Meeting or any postponement or
      adjournment thereof.</FONT></TD></TR></TABLE>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The foregoing items of business are
more fully described in the Proxy Statement accompanying this Notice.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Board of Directors has fixed the
close of business on March 25, 2013, as the record date for the determination of
stockholders entitled to notice of and to vote at this Annual Meeting and at any
adjournment or postponement thereof. Each stockholder is entitled to one vote
for each share of common stock held at that time.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><STRONG><U>Your Vote Is Important To
Us.</U></STRONG></FONT><FONT face="Times New Roman" size=2> Whether or not you plan to
attend the meeting, please vote electronically via the Internet or by telephone,
or, if you requested paper copies of the proxy materials, please complete, sign,
date and return the accompanying proxy in the enclosed postage-paid envelope.
Please note, however, that if your shares are held of record by a broker, bank
or other nominee and you wish to vote at the meeting, you must obtain from the
record holder a proxy issued in your name.</FONT></P>
<DIV align=right>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="50%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="100%"><FONT face="Times New Roman" size=2>By Order of the Board of
      Directors,<BR><IMG src="geron_def14a1x2x2.jpg" border=0><BR><FONT face="Times New Roman" size=2>Stephen N. Rosenfield<BR></FONT><I><FONT face="Times New Roman" size=2>Executive Vice President, General Counsel<BR>and Corporate
      Secretary</FONT></I></FONT></TD></TR></TABLE></DIV>
<DIV align=justify><FONT face="Times New Roman" size=2>Menlo Park, California<BR>April 5,
2013</FONT></DIV>
<P align=center><B><FONT face="Times New Roman" size=2>Important Notice Regarding the
Availability of Proxy Materials for the Annual Meeting: <BR></FONT></B><FONT face="Times New Roman" size=2>Letter to Stockholders, Notice and 2013 Proxy Statement, and
2012 Annual Report on Form 10-K are available at www.proxyvote.com.</FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>YOUR VOTE IS VERY IMPORTANT,
REGARDLESS OF THE NUMBER OF SHARES YOU OWN. WHETHER OR NOT YOU EXPECT TO ATTEND
THE MEETING, WE URGE YOU TO SUBMIT </FONT></B><B><FONT face="Times New Roman" size=2>YOUR
PROXY PROMPTLY IN ORDER TO ASSURE THAT A QUORUM IS PRESENT. </FONT></B></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2><A HREF="#toc">Table of Contents</A></font></P>
<P align=center><B><FONT face="Times New Roman" size=2><A NAME="toc"></A>Table of Contents</FONT></B></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="2%"><B><FONT face="Times New Roman" size=1>Description</FONT></B></TD>
    <TD noWrap align=left width="95%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="2%" colSpan=2><B><FONT face="Times New Roman" size=1>Page</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="97%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2><A HREF="#qanda">Questions and Answers about These Proxy Materials and Voting</A></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2><A HREF="#qanda">1</A></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff>&nbsp;</TD></TR>
  <TR>
    <TD noWrap align=left width="97%" colSpan=2>&nbsp;</TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="97%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2><A HREF="#proposal1">Proposal 1: Election of Directors</A></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2><A HREF="#proposal1">8</A></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR>
    <TD noWrap align=left width="97%" colSpan=2>&nbsp;</TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="97%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2><A HREF="#corporategov">Corporate Governance Matters</A></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="#corporategov">13</A></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR>
    <TD noWrap align=left width="97%" colSpan=2>&nbsp;</TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="97%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2><A HREF="#compdirector">Compensation of Directors</A></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2><A HREF="#compdirector">17</A></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR>
    <TD noWrap align=left width="97%" colSpan=2>&nbsp;</TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="97%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2><A HREF="#proposal2">Proposal 2: Advisory Vote to Approve Named Executive Officer Compensation</A></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2><A HREF="#proposal2">21</A></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR>
    <TD noWrap align=left width="97%" colSpan=2>&nbsp;</TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="97%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2><A HREF="#compdiscussion">Compensation Discussion and Analysis</A></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2><A HREF="#compdiscussion">23</A></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR>
    <TD noWrap align=left width="97%" colSpan=2>&nbsp;</TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="97%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2><A HREF="#compcommittee">Compensation Committee Report</A></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2><A HREF="#compcommittee">43</A></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR>
    <TD noWrap align=left width="97%" colSpan=2>&nbsp;</TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="97%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2><A HREF="#executivecomp">Executive Compensation Tables</A></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2><A HREF="#executivecomp">44</A></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff>&nbsp;</TD></TR>
  <TR>
    <TD noWrap align=left width="97%" colSpan=2>&nbsp;</TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="97%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2><A HREF="#equitycomp">Equity Compensation Plans</A></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2><A HREF="#equitycomp">53</A></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR>
    <TD noWrap align=left width="97%" colSpan=2>&nbsp;</TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="97%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2><A HREF="#proposal3">Proposal 3: Ratification of Selection of Independent Registered Public Accounting Firm</A></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2><A HREF="#proposal3">53</A></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR>
    <TD noWrap align=left width="97%" colSpan=2>&nbsp;</TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="97%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2><A HREF="#principalacc">Principal Accountant Fees and Services</A></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2><A HREF="#principalacc">54</A></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR>
    <TD noWrap align=left width="97%" colSpan=2>&nbsp;</TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="97%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2><A HREF="#auditcommittee">Audit Committee Report</A></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2><A HREF="#auditcommittee">55</A></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR>
    <TD noWrap align=left width="97%" colSpan=2>&nbsp;</TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="97%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2><A HREF="#securityownership">Security Ownership of Certain Beneficial Owners and Management</A></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2><A HREF="#securityownership">56</A></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR>
    <TD noWrap align=left width="97%" colSpan=2>&nbsp;</TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="97%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2><A HREF="#certaintrans">Certain Transactions</A></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2><A HREF="#certaintrans">58</A></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR>
    <TD noWrap align=left width="97%" colSpan=2>&nbsp;</TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="97%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2><A HREF="#othermatters">Other Matters</A></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2><A HREF="#othermatters">58</A></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR></TABLE><BR>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2><A HREF="#toc">Table of Contents</A></font></P>
<P align=center><B><FONT face="Times New Roman" size=2>GERON CORPORATION <BR>149 Commonwealth
Drive, Suite 2070<BR>Menlo Park, CA
94025<BR>_________________<BR>&nbsp;<BR></FONT></B><B><FONT face="Times New Roman">PROXY
STATEMENT<BR></FONT></B><B><FONT face="Times New Roman">FOR THE ANNUAL MEETING OF
STOCKHOLDERS<BR>TO BE HELD ON MAY 22, 2013<BR><FONT size=2 face="Times New Roman">_________________<BR>&nbsp;<BR></FONT></FONT></B><B><FONT face="Times New Roman" size=2><A NAME="qanda"></A>QUESTIONS AND ANSWERS ABOUT THESE PROXY MATERIALS AND VOTING
</FONT></B></P>
<P align=justify><B><FONT face="Times New Roman" size=2>Why am I receiving these materials?
</FONT></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Times New Roman" size=2>We have
sent you a Notice of Availability of Proxy Materials (the &#147;Notice&#148;) or our proxy
materials, as applicable, because the Board of Directors (the &#147;Board&#148;) of Geron
Corporation, a Delaware corporation (&#147;Geron&#148;, the &#147;Company&#148;, &#147;we&#148; or &#147;us&#148;), is
soliciting your proxy to vote at our 2013 Annual Meeting of Stockholders (the &#147;Annual Meeting&#148;), to be
held on May 22, 2013, at 2:00 p.m. Pacific Daylight Time at the Hyatt Regency Burlingame,
1333 Bayshore Highway, Burlingame, CA 94010 or at any adjournment or postponement thereof. You may vote by proxy over the
Internet, by phone or by mail, if you requested printed copies of the proxy
materials. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>We intend to distribute the Notice and the
proxy materials on or about April 10, 2013 to all stockholders of record
entitled to vote at the Annual Meeting. </FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>What is the purpose of the Annual
Meeting? </FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>At our Annual Meeting, stockholders
will act upon the matters described in this Proxy Statement. In addition,
following the meeting, management will report on current events at Geron and
respond to questions from stockholders.</FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>How can I attend the Annual Meeting?
</FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>All stockholders are cordially
invited to attend the Annual Meeting in person at the Hyatt Regency Burlingame,
1333 Bayshore Highway, Burlingame, CA 94010. For directions to attend the Annual
Meeting, please contact our Investor Relations department at (650) 473-7765 or
by email at investor@geron.com. Stockholders may also access the meeting via
telephone by dialing 877-415-3185 (U.S.); 857-244-7328 (international). The
passcode is 11038077. A live audio-only webcast will also be available at
http://edge.media-server.com/m/p/44bzyzur/lan/en via the Internet. The Annual
Meeting will start at 2:00 p.m., Pacific Daylight Time, on May 22,
2013.</FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>How can I participate in the Annual
Meeting if I cannot attend in person? </FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>If you cannot attend the meeting in
person, stockholders may participate via telephone by dialing 877-415-3185
(U.S.); 857-244-7328 (international). The passcode is 11038077. We recommend
that stockholders dial in at least 10 minutes early to minimize any delay in
joining the meeting. Participants via telephone will also have an opportunity to
ask questions during the meeting.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Annual Meeting will also be
available via the Internet in a live audio-only webcast available at
http://edge.media-server.com/m/p/44bzyzur/lan/en. The audio webcast of the
Annual Meeting will be available for replay approximately one hour following the
live meeting through June 21, 2013. Since the webcast is audio-only,
participants will be unable to ask questions in this forum. </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>1</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2><A HREF="#toc">Table of Contents</A></font></P>
<P align=justify><B><FONT face="Times New Roman" size=2>Why did I receive a Notice in the
mail regarding the Internet availability of proxy materials instead of a full
set of proxy materials? </FONT></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Times New Roman" size=2>We are
pleased to continue to take advantage of the SEC rule that allows companies to
furnish their proxy materials over the Internet. If you received the Notice by
mail, you will not receive a printed copy of the proxy materials unless you
request one. Instead, the Notice will instruct you as to how you may access and
review the proxy materials and cast your vote via the Internet. If you received
a Notice by mail and would like to receive a printed copy of our proxy
materials, please follow the instructions included in the Notice. A
stockholder&#146;s election to receive proxy materials by mail or electronically by
email will remain in effect until the stockholder terminates such
election.</FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>Why did I receive a full set of
proxy materials instead of a Notice regarding the Internet availability of proxy
materials? </FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>We are providing paper copies of the
proxy materials to stockholders who previously requested to receive them. If you
would like to reduce the environmental impact and the costs incurred by us in
mailing proxy materials, you may elect to receive all future proxy materials
electronically via email or the Internet. To sign up for electronic delivery,
please follow the instructions provided with your proxy materials and on your
proxy card or voting instruction card, to vote using the Internet and, when
prompted, indicate that you agree to receive or access future stockholder
communications electronically. Alternatively, you can go to www.proxyvote.com
and enroll for online delivery of proxy materials. </FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>How can I access the proxy materials
over the Internet? </FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>You may view and also download our
proxy materials, including the 2012 Annual Report on Form 10-K , at
www.proxyvote.com. </FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>How do I order proxy materials if I
have not received them? </FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>This Proxy Statement and Geron&#146;s
2012 Annual Report on Form 10-K are available at www.proxyvote.com. Internet
distribution of proxy materials is designed to expedite receipt by stockholders,
lower the cost of the Annual Meeting and conserve natural resources. However, if
you have not received a copy of our proxy materials and would like to receive
one for the Annual Meeting or for future stockholder meetings, you may request
printed copies as follows: </FONT></P>
<UL style="FONT-SIZE: 10pt; text-align: justify"><LI><FONT face="Times New Roman" size=2>By telephone: call 1-800-579-1639 free of charge
  and follow the instructions;</FONT> <BR>&nbsp;
  </LI><LI><FONT face="Times New Roman" size=2>By Internet: go to www.proxyvote.com and follow
  the instructions; or</FONT>&nbsp;<BR>&nbsp;
  </LI><LI><FONT face="Times New Roman" size=2>By e-mail: send an e-mail message to
  sendmaterial@proxyvote.com. Please send a blank e-mail and</FONT> <FONT face="Times New Roman" size=2>put the 12-Digit Control Number located in your Notice in
  the subject line.</FONT> </LI></UL>
<P align=justify><B><FONT face="Times New Roman" size=2>Who can vote at the Annual Meeting?
</FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Only holders of record at the close
of business on March 25, 2013 (the &#147;Record Date&#148;) will be entitled to notice of
and to vote at the Annual Meeting or any adjournment or postponement thereof. At
the close of business on the Record Date, we had 130,573,260 shares of common
stock, par value $0.001 per share (&#147;Common Stock&#148;), outstanding. Each holder of
record of Common Stock on the Record Date will be entitled to one vote for each
share held on all matters to be voted upon at the Annual Meeting. The stock
transfer books will not be closed between the Record Date and the Annual Meeting
date. A list of stockholders entitled to vote at the Annual Meeting will be
available for examination at our principal executive offices at the address
listed above for a period of ten days prior to the Annual Meeting and during the
Annual Meeting. </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>2</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2><A HREF="#toc">Table of Contents</A></font></P>
<P align=justify><B><FONT face="Times New Roman" size=2>What am I voting on at the Annual
Meeting?</FONT></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Times New Roman" size=2>You are
being asked to vote on three proposals, as follows:</FONT></P>
<TABLE style="BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%"><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD>
    <TD vAlign=top noWrap align=left width="2%"><FONT face="Times New Roman" size=2>Proposal 1</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left; width: 96%">
      <P align=justify><FONT face="Times New Roman" size=2>To elect the two nominees for director named in this Proxy
      Statement to hold office as a Class II member of our Board of Directors
      until the 2016 annual meeting of stockholders;</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="1%">&nbsp;</TD>
    <TD vAlign=top width="99%" colSpan=3>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%"><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD vAlign=top noWrap align=left width="2%"><FONT face="Times New Roman" size=2>Proposal 2</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left; width: 96%">
      <P align=justify><FONT face="Times New Roman" size=2>To approve, on an advisory basis, the compensation of our
      named executive officers, as disclosed in this Proxy Statement;
      and</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="1%">&nbsp;</TD>
    <TD vAlign=top width="99%" colSpan=3></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%"><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD>
    <TD vAlign=top noWrap align=left width="2%"><FONT face="Times New Roman" size=2>Proposal 3</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left; width: 96%">
      <P align=justify><FONT face="Times New Roman" size=2>To ratify the selection by the Audit Committee of the Board
      of Directors of Ernst &amp; Young LLP as our independent registered public
      accounting firm for the fiscal year ending December 31,
  2013.</FONT></P></TD></TR></TABLE><BR>
<P align=justify><B><FONT face="Times New Roman" size=2>What are the choices in voting?
</FONT></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Times New Roman" size=2>For
Proposal 1, you may either vote &#147;For&#148; all nominees to the Board of Directors or
you may &#147;Withhold&#148; your vote for any nominee you specify. For Proposals 2 and 3,
you may vote &#147;For&#148; or &#147;Against&#148; or &#147;Abstain&#148; from voting.</FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>What is the recommendation of the
Board on each of the matters scheduled to be voted on at the Annual Meeting?
</FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Board of Directors recommends
that you vote:</FONT></P>
<UL style="FONT-SIZE: 10pt; text-align: justify"><LI><FONT face="Times New Roman" size=2>FOR both nominees to the Board of Directors
  (Proposal 1);</FONT> <BR>&nbsp;
  </LI><LI><FONT face="Times New Roman" size=2>FOR the approval, on an advisory basis, of the
  compensation of our named executive officers as</FONT> <FONT face="Times New Roman" size=2>disclosed in this Proxy Statement (Proposal 2); and</FONT> <BR>&nbsp;
  </LI><LI><FONT face="Times New Roman" size=2>FOR the ratification of the appointment of Ernst
  &amp; Young LLP as our independent registered public</FONT> <FONT face="Times New Roman" size=2>accounting firm for the fiscal year ending December 31, 2013 (Proposal
  3).</FONT> </LI></UL>
<P align=justify><B><FONT face="Times New Roman" size=2>Could other matters be decided at
the Annual Meeting? </FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Our Bylaws require that we receive
advance notice of any proposal to be brought before the Annual Meeting by our
stockholders, and we have not received notice of any such proposals as of the
Record Date. If any other matter were to be properly submitted for a vote at the
Annual Meeting, the proxy holders appointed by the Board will have the
discretion to vote on those matters for you as they see fit. This includes,
among other things, considering any motion to adjourn the Annual Meeting to
another time and/or place, including for the purpose of soliciting additional
proxies for or against a given proposal.</FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>What is the difference between
holding shares as a stockholder of record or as a beneficial owner?
</FONT></B></P>
<P align=justify><B><I><FONT face="Times New Roman" size=2>Stockholder of Record: Shares
Registered in Your Name</FONT></I></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>You are a stockholder of record if
at the close of business on March 25, 2013, your shares were registered directly
in your name with our transfer agent, Computershare Trust Company, N.A. As a
stockholder of record, you may vote during the Annual Meeting or vote by
proxy.</FONT></P>
<P align=justify><B><I><FONT face="Times New Roman" size=2>Beneficial Owner: Shares
Registered in the Name of a Broker or Bank </FONT></I></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>You are a beneficial owner, if at
the close of business on March 25, 2013, your shares were held in an account at
a brokerage firm, bank, dealer, or other similar organization and not in your
name. The organization holding your account is considered to be the stockholder
of record for purposes of voting at the Annual Meeting. Being a beneficial owner
means that, like most stockholders, your shares are held in &#147;street name&#148; and
these proxy materials are being forwarded to you by that organization. As a
beneficial owner, you have the right to direct your broker or other agent on how
to vote the shares in your account by following the voting instructions your
broker </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>3</FONT></P>
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<P align=left><FONT face="Times New Roman" size=2><A HREF="#toc">Table of Contents</A></font></P>
<P align=justify><FONT face="Times New Roman" size=2>or other nominee provides. If you do
not provide your broker or nominee with instructions on how to vote your shares,
your broker or nominee will be able to vote your shares with respect to some of
the proposals, but not all. Refer to the section below &#147;What are broker
non-votes?&#148; for more information.</FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>How do I vote my shares and what are
the voting deadlines? </FONT></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Times New Roman" size=2>Please
refer to the proxy card for instructions on, and access information for, voting
by telephone, over the Internet or by mail.</FONT></P>
<P align=justify><B><I><FONT face="Times New Roman" size=2>Stockholder of Record: Shares
Registered In Your Name</FONT></I></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>If you are a stockholder of record,
there are several ways for you to vote your shares.</FONT></P>
<UL style="FONT-SIZE: 10pt; text-align: justify"><LI><B><FONT face="Times New Roman" size=2><U>Via the Internet</U></FONT></B><FONT face="Times New Roman" size=2>. You may vote at www.proxyvote.com, 24 hours a day, seven
  days a week. You will</FONT> <FONT face="Times New Roman" size=2>need the 12-Digit Control
  Number included on your Notice or your proxy card (if you received a
  printed</FONT> <FONT face="Times New Roman" size=2>copy of the proxy materials). Votes
  submitted through the Internet must be received by 11:59 p.m.,</FONT> <FONT face="Times New Roman" size=2>Eastern Time, on May 21, 2013.</FONT> <BR>&nbsp;
  </LI><LI><B><FONT face="Times New Roman" size=2><U>By Telephone</U></FONT></B><FONT face="Times New Roman" size=2>. You may vote using a touch-tone telephone by calling 1-800-690-6903,
  24 hours a day,</FONT> <FONT face="Times New Roman" size=2>seven days a week. You will
  need the 12-Digit Control Number included on your Notice or your proxy</FONT>
  <FONT face="Times New Roman" size=2>card (if you received a printed copy of the proxy
  materials). Votes submitted by telephone must be</FONT> <FONT face="Times New Roman" size=2>received by 11:59 p.m., Eastern Time, on May 21, 2013.</FONT>
<BR>&nbsp;
  </LI><LI><B><FONT face="Times New Roman" size=2><U>By Mail</U></FONT></B><FONT face="Times New Roman" size=2>. If you received printed proxy materials, you may submit your vote by
  completing, signing,</FONT> <FONT face="Times New Roman" size=2>and dating each proxy card
  received and returning it in the prepaid envelope. Sign your name
  exactly</FONT> <FONT face="Times New Roman" size=2>as it appears on the proxy card. Proxy
  cards submitted by mail must be received no later than May 21,</FONT> <FONT face="Times New Roman" size=2>2013 to be voted at the Annual Meeting.</FONT> <BR>&nbsp;
  </LI><LI><B><FONT face="Times New Roman" size=2><U>During the Annual
  Meeting</U></FONT></B><FONT face="Times New Roman" size=2>. Stockholders may also submit
  their vote if they attend the meeting in</FONT> <FONT face="Times New Roman" size=2>person.</FONT> </LI></UL>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Times New Roman" size=2>The
Internet and telephone voting procedures described above, which comply with
Delaware law, are designed to authenticate stockholders&#146; identities, to allow
stockholders to vote their shares, and to confirm that their instructions have
been properly recorded. However, please be aware that you must bear any costs
associated with your Internet access, such as usage charges from Internet access
providers and telephone companies.</FONT></P>
<P align=justify><B><I><FONT face="Times New Roman" size=2>Beneficial Owner: Shares
Registered in the Name of a Broker or Bank</FONT></I></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>If you are a beneficial owner of
your shares, you should have received a Notice or voting instructions from the
broker or other nominee holding your shares. You should follow the instructions
in the Notice or voting instructions provided by your broker or nominee in order
to instruct your broker or other nominee on how to vote your shares. The
availability of telephone and Internet voting will depend on the voting process
of the broker or nominee. Please contact your bank, broker or other agent if you
have questions about their instructions on how to vote your shares. To vote
during the 2013 Annual Meeting, you must obtain a valid proxy from your broker,
bank, or other agent, and attend the meeting in person to submit your
vote.</FONT></P>
<P align=justify><B><I><FONT face="Times New Roman" size=2>Geron Plan Participants
</FONT></I></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>As trustee of the Geron 401(k) Plan,
Prudential Bank and Trust FSB will receive a proxy that incorporates all the
shares owned by the Geron 401(k) Plan and will vote such proxy as directed by
the Geron 401(k) sponsor.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Shares purchased through the 1996
Employee Stock Purchase Plan will follow standard brokerage industry practices.
Shares held in the name of the broker will be voted on behalf of the holder on
certain routine matters. To the extent the brokerage firm votes shares on the
behalf of the holder, the shares will be counted for the purpose of determining
a quorum.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>4</FONT></P>
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<P align=left><FONT face="Times New Roman" size=2><A HREF="#toc">Table of Contents</A></font></P>
<P align=justify><B><FONT face="Times New Roman" size=2>Can I vote my shares by filling out
and returning the Notice? </FONT></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Times New Roman" size=2>No. The
Notice will, however, provide instructions on how to vote by Internet, by
telephone, or by requesting and returning a paper proxy card or voting
instruction card.</FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>How many votes are needed to approve
a proposal? </FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>A quorum of stockholders is
necessary to hold a valid meeting. In order to constitute a quorum and to
transact business at the Annual Meeting, a majority of the outstanding shares of
Common Stock on the Record Date must be represented at the Annual Meeting.
Shares represented by proxies that reflect abstentions or &#147;broker non-votes&#148;
will be counted as shares that are present and entitled to vote for purposes of
determining the presence of a quorum.</FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=center width="2%"><B><FONT face="Times New Roman" size=1>Proposal</FONT></B></TD>
    <TD vAlign=top noWrap align=center width="1%"></TD>
    <TD vAlign=top noWrap align=left width="47%" colSpan=2></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="48%" colSpan=2></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=center width="2%"><B><FONT face="Times New Roman" size=1>Number</FONT></B></TD>
    <TD vAlign=top noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=left width="2%"><B><FONT face="Times New Roman" size=1>Proposal</FONT></B></TD>
    <TD vAlign=top noWrap align=left width="45%">&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=left width="3%"><B><FONT face="Times New Roman" size=1>Vote Required</FONT></B></TD>
    <TD vAlign=top noWrap align=left width="45%">&nbsp;</TD></TR>
  <TR style="LINE-HEIGHT: normal" vAlign=bottom>
    <TD vAlign=top noWrap align=center width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>1</FONT></TD>
    <TD vAlign=top noWrap align=center width="1%" bgColor=#cceeff></TD>
    <TD VALIGN="TOP" ALIGN="LEFT" WIDTH="47%" BGCOLOR="#cceeff" COLSPAN="2" STYLE="text-align: justify"><FONT face="Times New Roman" size=2>To elect the two nominees for director named in this
      Proxy Statement to hold office as a Class II member of our Board of
      Directors until the 2016 annual meeting of stockholders.</FONT></TD>
    <TD vAlign=top align=left width="1%" bgColor=#cceeff></TD>
    <TD VALIGN="TOP" ALIGN="LEFT" WIDTH="48%" BGCOLOR="#cceeff" COLSPAN="2" STYLE="text-align: justify"><FONT face="Times New Roman" size=2>The two nominees receiving the most &#147;FOR&#148; votes
      properly cast in person or by proxy will be elected. Only votes &#147;FOR&#148; or
      &#147;WITHHOLD&#148; will affect the outcome.</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="2%">&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="47%" colSpan=2></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="48%" colSpan=2></TD></TR>
  <TR style="LINE-HEIGHT: normal" vAlign=bottom>
    <TD vAlign=top noWrap align=center width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>2</FONT></TD>
    <TD vAlign=top noWrap align=center width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD VALIGN="TOP" ALIGN="LEFT" WIDTH="47%" BGCOLOR="#cceeff" COLSPAN="2" STYLE="text-align: justify"><FONT face="Times New Roman" size=2>To approve, on an advisory basis, the compensation
      of our named executive officers, as disclosed in this Proxy
      Statement.</FONT></TD>
    <TD vAlign=top align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD VALIGN="TOP" ALIGN="LEFT" WIDTH="48%" BGCOLOR="#cceeff" COLSPAN="2" STYLE="text-align: justify"><FONT face="Times New Roman" size=2>The affirmative vote of the holders of a majority of
      the shares present or represented, in person or by proxy at this meeting.
      Abstentions will have the same effect as a vote against this proposal, and
      broker non-votes will have no effect on the outcome of this proposal.
      However, this proposal is advisory and non-binding upon us.</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="2%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top align=left width="47%" colSpan=2></TD>
    <TD vAlign=top align=left width="1%">&nbsp;</TD>
    <TD vAlign=top align=left width="48%" colSpan=2></TD></TR>
  <TR style="LINE-HEIGHT: normal" vAlign=bottom>
    <TD vAlign=top noWrap align=center width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>3</FONT></TD>
    <TD vAlign=top noWrap align=center width="1%" bgColor=#cceeff></TD>
    <TD VALIGN="TOP" ALIGN="LEFT" WIDTH="47%" BGCOLOR="#cceeff" COLSPAN="2" STYLE="text-align: justify"><FONT face="Times New Roman" size=2>To ratify the selection by the Audit Committee of
      the Board of Directors of Ernst &amp; Young LLP as our independent
      registered public accounting firm for the fiscal year ending December 31,
      2013.</FONT></TD>
    <TD vAlign=top align=left width="1%" bgColor=#cceeff></TD>
    <TD VALIGN="TOP" ALIGN="LEFT" WIDTH="48%" BGCOLOR="#cceeff" COLSPAN="2" STYLE="text-align: justify"><FONT face="Times New Roman" size=2>The affirmative vote of the holders of a majority of
      the shares present or represented, in person or by proxy, at this meeting.
      Abstentions will have the same effect as a vote against this proposal, and
      broker non-votes will have no effect on the outcome of this
      proposal.</FONT></TD></TR></TABLE><BR>
<P align=justify><B><FONT face="Times New Roman" size=2>What are &#147;broker non-votes&#148;?
</FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Broker non-votes occur when a
beneficial owner of shares held in &#147;street name&#148; does not give instructions to
the broker or nominee holding the shares on how to vote on matters deemed
&#147;non-routine.&#148; Generally, if shares are held in street name, the beneficial
owner of the shares is entitled to give voting instructions to the broker or
nominee holding the shares. If the beneficial owner does not provide voting
instructions, the broker or nominee can still vote the shares with respect to
matters that are considered to be &#147;routine,&#148; but not with respect to
&#147;non-routine&#148; matters. In the event that a broker, bank, custodian, nominee or
other record holder of Geron Common Stock indicates on a proxy that it does not
have discretionary authority to vote certain shares on a particular proposal,
then those shares will be treated as broker non-votes with respect to that
proposal. Accordingly, if you own shares through a nominee, such as a broker or
bank, please be sure to instruct your nominee on how to vote to ensure that your
vote is counted on each of the proposals. </FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>Which ballot measures are considered
&#147;routine&#148; or &#147;non-routine?&#148; </FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The ratification of the appointment
of Ernst &amp; Young LLP as our independent registered public accounting firm
for the fiscal year ending December 31, 2013 (Proposal 3) is considered routine
under applicable rules. A broker or other nominee may generally vote on routine
matters, and therefore no broker non-votes are expected to exist in connection
with Proposal 3. The election of directors (Proposal 1) and the advisory vote on
the compensation of our named executive officers (Proposal 2) are considered
non-routine matters under applicable rules. A broker or other nominee cannot
vote without instructions on non-routine matters, and therefore we expect broker
non-votes on Proposals 1 and 2.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>5</FONT></P>
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<P align=left><FONT face="Times New Roman" size=2><A HREF="#toc">Table of Contents</A></font></P>
<P align=justify><B><FONT face="Times New Roman" size=2>What does it mean if I receive more
than one proxy card? </FONT></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Times New Roman" size=2>If you
receive more than one proxy card, your shares are registered in more than one
name or are registered in different accounts. Please complete, sign and return
each proxy card to ensure that all of your shares are voted. </FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>How will your proxy be voted?
</FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Votes will be counted by the
Inspector of Election appointed for the Annual Meeting, who will separately
count &#147;For&#148; and (with respect to proposals other than the election of directors)
&#147;Against&#148; votes, abstentions and broker non-votes. In addition, with respect to
the election of directors, the Inspector of Election will count the number of
&#147;Withhold&#148; votes received for the nominees. If your shares are held by your
broker as your nominee (that is, in &#147;street name&#148;), you will need to obtain a
proxy form from the institution that holds your shares and follow the
instructions included on that form regarding how to instruct your broker to vote
your shares. If you do not give instructions to your broker, your broker can
vote your shares with respect to &#147;routine&#148; items, but not with respect to
&#147;non-routine&#148; items. See &#147;What are &#147;broker non-votes?&#148; and &#147;Which ballot
measures are considered &#147;routine&#148; or &#147;non-routine&#148;?&#148; above for more information
regarding &#147;routine&#148; and &#147;non-routine&#148; matters.</FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>Can I revoke or change my vote after
I submit my proxy? </FONT></B></P>
<P align=justify><B><I><FONT face="Times New Roman" size=2>Stockholder of Record: Shares
Registered In Your Name </FONT></I></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>If you are a stockholder of record,
you may revoke or change your vote at any time before the final vote at the
Annual Meeting by: </FONT></P>
<UL style="FONT-SIZE: 10pt; text-align: justify"><LI><FONT face="Times New Roman" size=2>signing and returning a new proxy card with a
  later date;</FONT> <BR>&nbsp;
  </LI><LI><FONT face="Times New Roman" size=2>submitting a later-dated vote by telephone or via
  the Internet &#151; only your latest Internet or telephone</FONT> <FONT face="Times New Roman" size=2>proxy received by 11:59 p.m., Eastern Time, on May 21, 2013 will be
  counted;</FONT> <BR>&nbsp;
  </LI><LI><FONT face="Times New Roman" size=2>attending the Annual Meeting in person and voting
  again; or</FONT> <BR>&nbsp;
  </LI><LI><FONT face="Times New Roman" size=2>delivering a written revocation to our Corporate
  Secretary at Geron&#146;s offices, 149 Commonwealth</FONT> <FONT face="Times New Roman" size=2>Drive, Suite 2070, Menlo Park, California 94025, before the Annual
  Meeting.</FONT> </LI></UL>
<P align=justify><B><I><FONT face="Times New Roman" size=2>Beneficial Owner: Shares
Registered in the Name of a Broker or Bank </FONT></I></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>If you are a beneficial owner of
your shares, you must contact the broker or other nominee holding your shares
and follow their instructions for revoking or changing your vote.</FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>Is my vote confidential?
</FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Yes. Proxy cards, ballots and voting
tabulations that identify stockholders by name are kept confidential. There are
exceptions for contested proxy solicitations or when necessary to meet legal
requirements. In addition, all comments written on a proxy card or elsewhere
will be forwarded to management, but your identity will be kept confidential
unless you ask that your name be disclosed. </FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>How can I obtain a copy of Geron&#146;s
Annual Report on Form 10-K?</FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><STRONG>We will mail to you without
charge, upon written request, a copy of our Annual Report on Form 10-K filed
with the SEC for the fiscal year ended December 31, 2012, as well as a copy of
any exhibit specifically requested. Requests should be sent to: Corporate
Secretary, Geron Corporation, 149 Commonwealth Drive, Suite 2070, Menlo Park,
California 94025. A copy of our Annual Report on Form 10-K has also been filed
with the SEC and may be accessed from the SEC&#146;s homepage
(www.sec.gov).</STRONG></FONT><FONT face="Times New Roman" size=2> You may also view and
download our 2012 Annual Report on Form 10-K on our website at www.geron.com as
well as www.proxyvote.com.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>6</FONT></P>
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<P align=left><FONT face="Times New Roman" size=2><A HREF="#toc">Table of Contents</A></font></P>
<P align=justify><B><FONT face="Times New Roman" size=2>How can I find out the results of
the voting at the Annual Meeting? </FONT></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Times New Roman" size=2>Preliminary voting results will be announced at the Annual Meeting. Final
voting results will be published by Geron in a Current Report on Form 8-K, filed
with the SEC that we expect to file within four business days after the Annual
Meeting. If final voting results are not available to us in time to file a
Current Report on Form 8-K within four business days after the Annual Meeting,
we intend to file a Current Report on Form 8-K to publish preliminary results
and, within four business days after the final results are known to us, file an
additional Current Report on Form 8-K to publish the final results.</FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>Who is paying for this proxy
solicitation? </FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>We will pay the entire cost of
solicitation of proxies, including preparation, assembly, printing and mailing
of this Proxy Statement, the proxy and any additional information furnished to
stockholders. Copies of solicitation materials will be furnished to banks,
brokerage houses, fiduciaries and custodians holding in their names shares of
Common Stock beneficially owned by others to forward to such beneficial owners.
In addition, we may reimburse persons representing beneficial owners of Common
Stock for their costs of forwarding solicitation materials to such beneficial
owners. The original solicitation of proxies by mail may be supplemented by
solicitation by mail, telephone or other electronic means, or in person, by our
directors, officers, or other regular employees, or at our request, Alliance
Advisors, LLC. No additional compensation will be paid to directors, officers or
other regular employees for such services, but Alliance Advisors will be paid
its customary fee, estimated to be $6,000, to render solicitation services.
</FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>When are stockholder proposals due
for next year&#146;s Annual Meeting? </FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>To be considered for inclusion in
next year&#146;s proxy materials, your proposal must be submitted in writing by
December 11, 2013, to our Corporate Secretary at Geron Corporation, 149
Commonwealth Drive, Suite 2070, Menlo Park, California, 94025, and must comply
with all applicable requirements of Rule 14a-8 promulgated under the Securities
Exchange Act of 1934, as amended. However, if our 2014 Annual Meeting of
Stockholders is not held between April 22, 2014 and June 21, 2014, then the
deadline will be a reasonable time prior to the time we begin to print and mail
our proxy materials.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>If you wish to bring a proposal
before the stockholders or nominate a director at the 2014 Annual Meeting of
Stockholders, but you are not requesting that your proposal or nomination be
included in next year&#146;s proxy materials, you must notify our Corporate
Secretary, in writing, not earlier than the close of business on January 22,
2014 and not later than the close of business on February 21, 2014. However, if
our 2014 Annual Meeting of Stockholders is not held between April 22, 2014 and
July 21, 2014, then the deadline will be the 90<SUP>th</SUP> day prior to the
2014 Annual Meeting or, if later, the 10<SUP>th</SUP> day following the day on
which public disclosure of the date of the 2014 Annual Meeting of Stockholders
was made. We also advise you to review Geron&#146;s Bylaws, which contain additional
requirements about advance notice of stockholder proposals and director
nominations. The chairman of the 2014 Annual Meeting of Stockholders may
determine, if the facts warrant, that a matter has not been properly brought
before the meeting and, therefore, may not be considered at the meeting.
Stockholders interested in submitting a proposal are advised to contact
knowledgeable counsel with regard to the detailed requirements of the applicable
securities laws. The submission of a stockholder proposal does not guarantee
that it will be included in our Proxy Statement. For additional discussion,
refer to the section entitled &#147;Stockholder Nominations and Proposals for 2014
Annual Meeting&#148; on page 59.</FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>What is householding and how does it
affect me? </FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Some brokers and other nominee
record holders may be participating in the practice of &#147;householding&#148; proxy
statements. This means that only one copy of this Proxy Statement and 2012
Annual Report on Form 10-K or the Notice may have been sent to multiple
stockholders in a stockholder&#146;s household. Once you have received notice from
your broker that they will be &#147;householding&#148; communications to your address,
&#147;householding&#148; will continue until you are notified otherwise or until you
revoke your consent. If, at any time, you no longer wish to participate in
&#147;householding&#148; and would prefer to receive separate copies of the proxy
statement, annual report or the notice of internet availability, please notify
your broker or our Investor Relations department. We will promptly deliver
copies of the Proxy Statement and our 2012 Annual Report on Form 10-K or the
Notice to any stockholder who </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>7</FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>

<!-- PART B -->
<P align=left><FONT face="Times New Roman" size=2><A href="#toc">Table of
Contents</A></FONT></P>
<P align=justify><FONT face="Times New Roman" size=2>contacts our Investor Relations
department at (650) 473-7765 or by mail addressed to Investor Relations, Geron
Corporation, 149 Commonwealth Drive, Suite 2070, Menlo Park, California 94025,
requesting such copies. If a stockholder is receiving multiple copies of the
Proxy Statement and annual report at the stockholder&#146;s household and would like
to receive a single copy of the Proxy Statement and annual report for a
stockholder&#146;s household in the future, stockholders should contact their broker,
other nominee record holder, or our Investor Relations department to request
mailing of a single copy of the proxy statement and annual report. </FONT></P>
<P align=center><B><FONT face="Times New Roman" size=2>MATTERS TO BE CONSIDERED AT THE 2013
ANNUAL MEETING </FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2><A NAME="proposal1"></A>PROPOSAL 1 </FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2>ELECTION OF DIRECTORS </FONT></B></P>
<P align=justify><B><FONT face="Times New Roman" size=2>Board Structure </FONT></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>Our Board
currently consists of ten members, nine of which are &#147;independent,&#148; as that term
is defined by NASDAQ Rule 5605(a)(2). On February 13, 2013, Messrs. Edward V.
Fritzky and Thomas D. Kiley, Esq., notified us of each of their decision to
retire from our Board at the end of their term, effective as of May 22, 2013,
the date of the Annual Meeting. Upon the departure of Messrs. Fritzky and Kiley,
the size of our Board will be reduced to, and our Board will be comprised of,
eight directors, seven of which are &#147;independent&#148; as that term is defined by
NASDAQ Rule 5605(a)(2). Proxies may only be voted for the two Class II directors
nominated for election at the Annual Meeting. Our Bylaws provide for the
classification of the Board into three classes, as nearly equal in number as
possible, with staggered terms of office. Our Bylaws also provide that upon
expiration of the term of office for a class of directors, nominees for such
class will be elected for a term of three years or until their successors are
duly elected and qualified. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The term of office of the Class II directors will expire at the Annual
Meeting in May 2013. Each of the nominees, Hoyoung Huh, M.D., Ph.D., and Daniel
M. Bradbury, is currently serving as our director, but has not been previously
elected by our stockholders. Dr. Huh was recommended to the Board by Dr.
Alexander Barkas, who was a member of our Board until his death in November
2011, and Mr. Bradbury was recommended to our Board by Karin Eastham, who is a
current Board member. The Class III directors, Ms. Eastham, V. Bryan Lawlis,
Ph.D. and Susan M. Molineaux, Ph.D., have one year remaining on their terms of
office. The Class I directors, Thomas Hofstaetter, Ph.D., John A. Scarlett,
M.D., and Robert J. Spiegel, M.D., FACP, have two years remaining on their terms
of office.</FONT></P>
<P align=center><B><FONT face="Times New Roman" size=2>NOMINEES FOR ELECTION TO THE BOARD OF
DIRECTORS<BR>For a Three Year Term Expiring at the<BR>2016 Annual Meeting
</FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Board has selected two nominees for Class II directors, both of whom
are currently directors of Geron. Directors are elected by a plurality of the
votes of the holders of shares present in person or represented by proxy at the
meeting. The two nominees receiving the highest number of &#147;For&#148; votes will be
elected as Class II directors of Geron. Accordingly, abstentions will not affect
the outcome of this proposal. The election of directors is a non-routine matter
on which a broker or other nominee is not empowered to vote. Accordingly, if the
beneficial owner does not give a broker specific instructions, the beneficially
owned shares may not be voted on this proposal and will not be counted in
determining the number of shares necessary for election. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Shares represented by executed proxies will be voted, if authority to do
so is not withheld, for the election of the two nominees named below. In the event
that any nominee should be unavailable for election as a result of an unexpected
occurrence, such shares will be voted for the election of such substitute
nominee as our Nominating and Corporate Governance Committee and Board may
propose. Each person nominated for election has agreed to serve if elected, and
the Board has no reason to believe that any nominee will be unable to
serve.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>8</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2><A HREF="#toc">Table of Contents</A></font></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>Set forth
below is a brief biography of each nominee for Class II director, including
their ages, the periods during which they have served as a director of Geron,
and information furnished by them as to principal occupations and public company
directorships held by them. The biographies below also include a discussion of
the specific experience, qualifications, attributes or skills of each nominee
that led the Nominating and Corporate Governance Committee</FONT><B><FONT face="Times New Roman" size=2> </FONT></B><FONT face="Times New Roman" size=2>and the Board to conclude,
as of the date of this Proxy Statement, that each nominee for Class II director
should continue to serve as a director.</FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>Class II Directors (Term
Expiring at the 2016 Annual Meeting)</FONT></B></P>

<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"><B><FONT face="Times New Roman" size=1>Name</FONT></B></TD>
    <TD noWrap align=left width="59%">&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="2%"><B><FONT face="Times New Roman" size=1>Age</FONT></B></TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp; &nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="2%"><B><FONT face="Times New Roman" size=1>Principal
      Occupation</FONT></B></TD>
    <TD noWrap align=left width="34%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="60%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Hoyoung Huh, M.D., Ph.D.</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>43</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="36%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Independent Director</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="60%" colSpan=2><FONT face="Times New Roman" size=2>Daniel M. Bradbury</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"><FONT face="Times New Roman" size=2>51</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="36%" colSpan=2><FONT face="Times New Roman" size=2>Independent Director</FONT></TD></TR></TABLE><BR>

<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>
<EM>Hoyoung Huh,
M.D., Ph.D., </EM></FONT><FONT face="Times New Roman" size=2>has been the Chairman of the
Board since September 2011, served as Executive Chairman from February 2011 to
September 2011 and has served as a director of Geron since May 2010. He is
Chairman of the board of directors of Cytomx Therapeutics, Inc., an emerging
medical technology company, and also is a director of ADDEX Pharmaceuticals, a
pharmaceutical discovery and development company. From February 2008 to December
2011, Dr. Huh was Chairman of the board of directors of BiPar Sciences, Inc., a
wholly-owned subsidiary of Sanofi-Aventis, a global pharmaceutical company
developing treatments in cardiology, oncology, central nervous system disorders,
metabolic diseases, ophthalmology and vaccines since the April 2009 merger of
BiPar and Sanofi-Aventis, and served as BiPar&#146;s President and Chief Executive
Officer from February 2008 to December 2009. Additionally, Dr. Huh serves on the
boards of directors of several privately-held companies. Dr. Huh served on the
board of directors of Facet Biotech (a wholly-owned subsidiary of Abbott, a
global, broad-based health care company devoted to the discovery, development,
manufacture and marketing of pharmaceuticals and medical products, including
nutritionals, devices and diagnostics) from September 2009 to April 2010. From
February 2008 to May 2009, he was a member of the board of directors at Nektar
Therapeutics, a clinical-stage biopharmaceutical company developing small
molecule drugs, peptides and other biologic drug candidates as treatments for
oncology, pain, anti-infectives, anti-virals and immunology. From March 2005 to
February 2008, Dr. Huh held positions as Nektar&#146;s Chief Operating Officer and
Senior Vice President of Business Development and Marketing where he was
responsible for the company&#146;s worldwide business development, marketing and
manufacturing and led Nektar&#146;s PEGylation business. Prior to Nektar, Dr. Huh was
a partner at McKinsey &amp; Company, a global management consulting firm, where
he was in the biotechnology and biopharmaceutical sectors. Prior to McKinsey, he
held positions as a physician and researcher at Cornell University Medical
College and Sloan-Kettering Cancer Center. Dr. Huh holds an A.B. in biochemistry
from Dartmouth College and an M.D. and Ph.D. in genetics and cell biology from
Cornell University Medical College and Sloan-Kettering Institute.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Board believes Dr. Huh&#146;s management and operational experience as
President and Chief Executive Officer of BiPar Sciences and Chief Operating
Officer of Nektar Therapeutics, his significant expertise with implementing
strategic and line management initiatives from McKinsey and his knowledge of
biotechnology and pharmaceutical collaborations, qualifies Dr. Huh to be
nominated as a director and serve as Chairman of the Board. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><EM>Daniel M. Bradbury</EM></FONT><FONT face="Times New Roman" size=2> has served as
a director of Geron since September 2012. He also serves as a member of the
boards of directors of Illumina, Inc., a manufacturer of life-science tools and
integrated systems for the analysis of genetic variation and biological
function; Corcept Therapeutics, a company focused on the discovery and
development of drugs that regulate the effects of cortisol; and BioMed Realty, a
real estate investment trust focused on providing real estate to the life
science industry, as well as being a member of the board of trustees of the Keck
Graduate Institute. He also serves on the University of California San Diego,
Rady School of Management&#146;s Advisory Council, the University of Miami&#146;s
Innovation Corporate Advisory Council, Investor Growth Capital Advisory Board
and the BioMed Ventures Advisory Committee. Mr. Bradbury served as Chief
Executive Officer of Amylin Pharmaceuticals, Inc., a biopharmaceutical company
focused on diabetes and metabolic disorders, from March 2007 until its
acquisition by Bristol-Myers Squibb Company in August 2012. Mr. Bradbury served
as Amylin&#146;s President from June 2006 until March 2007, as Chief Operating
Officer from June 2003 until June 2006, as Executive Vice President from June
2000 until June 2003 and in other positions in corporate development </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>9</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2><A href="#toc">Table of
Contents</A></FONT></P>
<P align=justify><FONT face="Times New Roman" size=2>and marketing from 1994 until 2000. In
addition, Mr. Bradbury served as a member of the board of directors of Amylin
from June 2006 until August 2012. Prior to joining Amylin, he spent ten years at
SmithKline Beecham Pharmaceuticals, a pharmaceutical company, holding a number
of sales and marketing positions. He received a Bachelor of Pharmacy from
Nottingham University and a Diploma in Management Studies from Harrow and Ealing
Colleges of Higher Education in the United Kingdom.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>The Board
believes that Mr. Bradbury&#146;s extensive experience in the biopharmaceutical
industry, together with his experience in the research, development and
commercialization of pharmaceutical drug products, qualifies Mr. Bradbury to be
nominated as a director.</FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>Vote Required and Board
Recommendation</FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Directors are elected by a plurality of the votes of the holders of
shares present in person or represented by proxy at the meeting. The two
nominees receiving the highest number of &#147;For&#148; votes properly cast in person or
by proxy at the meeting will be elected. Shares represented by executed proxies
will be voted, if authority to do so is not withheld, for the election of the
two nominees named above. If any nominee becomes unavailable for election as a
result of an unexpected occurrence, your shares will be voted for the election
of a substitute nominee proposed by Geron. Abstentions and broker non-votes will
not have any effect on the outcome of this proposal. In tabulating the voting
results for the election of directors, only &#147;FOR&#148; and &#147;WITHHOLD&#148; votes are
counted.</FONT></P>
<P align=center><B><FONT face="Times New Roman" size=2>The Board of Directors Unanimously
Recommends That Stockholders<BR>Vote <U>FOR</U> the Election of Each Nominee to
the Board of Directors</FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2>MEMBERS OF THE BOARD OF DIRECTORS
CONTINUING IN OFFICE</FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Set forth below is a brief biography of each continuing director
composing the remainder of the Board with terms expiring as shown, including
their ages, the periods during which they have served as a director of Geron,
and information furnished by them as to principal occupations and public company
directorships held by them. The biographies below also include a discussion of
the specific experience, qualifications, attributes or skills of each continuing
director that led the Nominating and Corporate Governance
Committee</FONT><B><FONT face="Times New Roman" size=2> </FONT></B><FONT face="Times New Roman" size=2>and the Board to conclude, as of the date of this Proxy Statement, that
the applicable director should continue to serve as a
director.</FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>Class III Directors
(Term Expiring at the 2014 Annual Meeting) </FONT></B></P>

<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="2%"><B><FONT face="Times New Roman" size=1>Name</FONT></B></TD>
    <TD noWrap align=left width="76%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="1%"><B><FONT face="Times New Roman" size=1>Age</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="5%"><B><FONT face="Times New Roman" size=1>Principal
      Occupation</FONT></B></TD>
    <TD noWrap align=left width="15%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="78%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Karin Eastham</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>63</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="20%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Independent Director</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="78%" colSpan=2><FONT face="Times New Roman" size=2>V. Bryan Lawlis, Ph.D.</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"><FONT face="Times New Roman" size=2>61</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD noWrap align=left width="20%" colSpan=2><FONT face="Times New Roman" size=2>President and Chief Executive Officer, Itero Biopharmaceuticals
      LLC</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="78%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Susan M. Molineaux, Ph.D.</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>59</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="20%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>President and Chief Executive Officer,
      Calithera Biosciences, Inc.</FONT></TD></TR></TABLE><BR>


<P align=justify><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT face="Times New Roman" size=2><EM>Karin Eastham</EM> has served as a director of Geron since
March 2009. Ms. Eastham also serves as a director for MorphoSys AG, a Frankfurt
Stock Exchange-listed biotechnology company; Illumina, Inc., a manufacturer of
life science tools and reagents; Trius Therapeutics, Inc., a biopharmaceutical
company; and Veracyte, Inc., a privately held molecular diagnostics company. Ms.
Eastham also served in the past five years as a director of Amylin
Pharmaceuticals, Inc., a biopharmaceutical company, from 2005 until its sale in
2011; Genoptix, Inc., a provider of specialized laboratory services, from 2008
until its sale in 2011; Tercica, Inc., a biopharmaceutical company, from 2003
until its sale in 2008; and SGX Pharmaceuticals, Inc., a biopharmaceutical
company, from 2005 until its sale in 2008. From May 2004 to September 2008, she
served as Executive Vice President and Chief Operating Officer, and as a member
of the Board of Trustees, of Burnham Institute for Medical Research, a
non-profit corporation engaged in basic biomedical research. From 1999 to 2004,
Ms. Eastham served as Senior Vice President, Finance, Chief Financial Officer
and Secretary of Diversa Corporation, a biotechnology company. She previously
held similar positions with CombiChem, Inc., a computational chemistry company,
and Cytel Corporation, a biopharmaceutical company. Ms. Eastham also held
several positions, including Vice President, Finance, at Boehringer Mannheim
Corporation, a biopharmaceutical company, from 1976 to 1988. Ms. Eastham holds a
B.S. and an M.B.A. from Indiana University and is a Certified Public
Accountant.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>10</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2><A HREF="#toc">Table of Contents</A></font></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Board believes Ms. Eastham&#146;s understanding of biotechnology companies
combined with her business leadership and financial experience, her
contributions to the Board&#146;s understanding of governance and strategy for life
sciences companies through her experience as a director in the biopharmaceutical
industry and her extensive senior management experience in the biopharmaceutical
industry, particularly in key corporate finance and accounting positions,
qualifies Ms. Eastham to serve as a director. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><EM>V. Bryan Lawlis, Ph.D.,</EM></FONT><FONT face="Times New Roman" size=2> has
served as a director of Geron since March 2012. He currently serves as a
director for BioMarin Pharmaceuticals, Inc., a biopharmaceutical company
specializing in rare genetic diseases, and several privately-held biotechnology
companies. Dr. Lawlis is the President and Chief Executive Officer of Itero
Biopharmaceuticals LLC, a privately-held, early stage biopharmaceutical company
that he co-founded in 2006. Dr. Lawlis served as President and Chief Executive
Officer of Aradigm Corporation, a specialty drug company focused on drug
delivery technologies, from August 2004, and served on its board of directors
from February 2005, continuing in both capacities until August 2006. Dr. Lawlis
served as Aradigm Corporation&#146;s President and Chief Operating Officer from June
2003 to August 2004 and its Chief Operating Officer from November 2001 to June
2003. Previously, Dr. Lawlis co-founded Covance Biotechnology Services, a
contract biopharmaceutical manufacturing operation, served as its President and
Chief Executive Officer from 1996 to 1999, and served as Chairman from 1999 to
2001, when it was sold to Diosynth RTP, Inc., a division of Akzo Nobel, NV. From
1981 to 1996, Dr. Lawlis was employed at Genencor, Inc. and Genentech, Inc. His
last position at Genentech was Vice President of Process Sciences. Dr. Lawlis
holds a B.A. in microbiology from the University of Texas at Austin and a Ph.D.
in biochemistry from Washington State University.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Board believes Dr. Lawlis&#146; extensive experience in manufacturing
biotechnology and other pharmaceutical products, research and development of
drug products and managing and conducting clinical trials and drug regulatory
processes, qualifies Dr. Lawlis to serve as a director.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><EM>Susan M. Molineaux, Ph.D., </EM></FONT><FONT face="Times New Roman" size=2>has
served as a director of Geron since September 2012. She has been Chief Executive
Officer and President of Calithera Biosciences, Inc., a privately-held
biotechnology company developing oncology therapeutics, since co-founding the
company in June 2010. Prior to Calithera, Dr. Molineaux co-founded Proteolix,
Inc., a privately-held oncology-oriented biopharmaceutical company, where she
served as Chief Scientific Officer from December 2003 until December 2005 and
from February 2009 until November 2009, and as President and Chief Executive
Officer from January 2006 until February 2009. Dr. Molineaux was responsible for
leading the development of Proteolix&#146;s second-generation proteasome inhibitor,
carfilzomib (now marketed as Kryprolis), for the treatment of multiple myeloma,
from discovery through completion of clinical trials for accelerated approval,
until the company&#146;s acquisition by Onyx Pharmaceuticals, Inc., a global
oncology-oriented biopharmaceutical company, in November 2009. From 2000 to
2003, Dr. Molineaux served as Vice President of Biology at Rigel
Pharmaceuticals, Inc., a biopharmaceutical company focused on inflammatory and
autoimmune diseases. She served as Vice President of Biology at Praelux, Inc.
from 1999 to 2000, and from 1994 through 1999, as Vice President of Drug
Development at Praecis Pharmaceuticals, Inc., an oncology-focused
biopharmaceutical company. From 1989 until 1994, she was a scientist in the
Immunology group at Merck &amp; Co., a pharmaceutical company. Dr. Molineaux
holds a B.S. in biology from Smith College and a Ph.D. in molecular biology from
Johns Hopkins University, and completed a postdoctoral fellowship at Columbia
University. She currently serves as the Co-Vice Chair of Bay Bio, Northern
California&#146;s Life Science Association, and as a member of the board of directors
of We Teach Science, a San Francisco Bay Area mentoring program for students in
math and science. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Board believes Dr. Molineaux&#146;s extensive experience in pharmaceutical
and oncology drug development, and her expertise in managing and conducting
clinical trials, qualifies Dr. Molineaux to serve as a
director.</FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>Class I Directors (Term
Expiring at the 2015 Annual Meeting) </FONT></B></P>

<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"><B><FONT face="Times New Roman" size=1>Name</FONT></B></TD>
    <TD noWrap align=left width="59%">&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="2%"><B><FONT face="Times New Roman" size=1>Age</FONT></B></TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="3%"><B><FONT face="Times New Roman" size=1>Principal
      Occupation/Position with the Company</FONT></B></TD>
    <TD noWrap align=left width="33%" >&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="60%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Thomas Hofstaetter, Ph.D.</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>64</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="36%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Independent Director</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="60%" colSpan=2><FONT face="Times New Roman" size=2>John A. Scarlett, M.D.</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"><FONT face="Times New Roman" size=2>62</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="36%" colSpan=2><FONT face="Times New Roman" size=2>President and Chief Executive Officer</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="60%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Robert J. Spiegel, M.D., FACP</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>63</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="36%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Independent
Director</FONT></TD></TR></TABLE><BR>
<P align=justify><FONT face="Times New Roman" size=3>&nbsp;&nbsp;&nbsp;&nbsp; </FONT>
<FONT face="Times New Roman" size=2><I>Thomas Hofstaetter, Ph.D., </I></FONT><FONT face="Times New Roman" size=2>has served as a director of Geron since March 2010 and was
President, Chief Executive Officer and a director of VaxInnate Corporation, a
privately-held biotechnology vaccine company, from January 2010 to December
2011. From September 2004 to October 2009, Dr. Hofstaetter was Senior Vice
</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>11</FONT></P>
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<P align=justify><FONT face="Times New Roman" size=2>President, Corporate Development and
Head of Global Business Development and a member of the Wyeth Management
Committee at Wyeth, Inc., a global pharmaceutical company. At Wyeth, he closed
more than 70 transactions, including acquisitions of biotechnology companies,
in-licensing of products and broad technology collaborations. From December 1999
to August 2004, Dr. Hofstaetter was Senior Vice President of Corporate
Development of Aventis, a global pharmaceutical company. While at Aventis, he
was responsible for more than 100 transactions including research alliances,
product in- and out-licensing, divestments and spin-outs. In 1978, Dr.
Hofstaetter joined Behringwerke AG in Germany as a research scientist and rose
to become Head of Research in 1988 and head of the Immunology/Oncology business
unit in 1989. From 1991 to 1999, Dr. Hofstaetter served in various executive
managerial positions around the world, including the United States, Japan,
France and his native Germany, with Hoechst Pharma, a global pharmaceutical
company. Dr. Hofstaetter holds a Master of Science degree in biochemistry and a
Ph.D. in molecular biology, magna cum laude, from the University of Tuebingen in
Germany. From 2001 to 2004, he was a director of Merial Limited, a joint venture
between Aventis and Merck &amp; Co. focusing on pharmaceutical products and
vaccines for livestock, pets and wildlife. From 2000 to 2004, he was a member of
the board of trustees of the New Jersey Symphony Orchestra.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>The Board
believes Dr. Hofstaetter&#146;s expertise with numerous technology transactions
developed through his roles as a senior executive responsible for corporate
development and his significant operating and management knowledge of large,
global pharmaceutical companies, qualifies Dr. Hofstaetter to serve as a
director. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><EM>John A. Scarlett, M.D., </EM></FONT><FONT face="Times New Roman" size=2>has
served as our Chief Executive Officer and a director since September 2011 and
President since January 2012. Prior to joining Geron, Dr. Scarlett served as
President, Chief Executive Officer and a member of the board of directors of
Proteolix, Inc., a privately-held oncology-oriented biopharmaceutical company,
from February 2009 until its acquisition by Onyx Pharmaceuticals, Inc., a global
oncology-oriented biopharmaceutical company, in November 2009. From February
2002 until its acquisition by Ipsen, S.A. in October 2008, Dr. Scarlett served
as the Chief Executive Officer and a member of the board of directors of
Tercica, Inc., an endocrinology-oriented company, and also as its President from
February 2002 through February 2007. From March 1993 to May 2001, Dr. Scarlett
served as President and Chief Executive Officer of Sensus Drug Development
Corporation. In 1995, he co-founded Covance Biotechnology Services, Inc., a
contract biopharmaceutical manufacturing operation, and served as a member of
its board of directors from inception to 2000. From 1991 to 1993, Dr. Scarlett
headed the North American Clinical Development Center and served as Senior Vice
President of Medical and Scientific Affairs at Novo Nordisk Pharmaceuticals,
Inc., a wholly-owned subsidiary of Novo Nordisk A/S. Dr. Scarlett holds a B.A.
in chemistry from Earlham College and an M.D. from the University of Chicago,
Pritzker School of Medicine.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>As the only management representative on the Board, Dr. Scarlett brings
an insider&#146;s perspective in board discussions about Geron&#146;s business and
strategic direction. In addition, the Board believes Dr. Scarlett&#146;s medical
background and extensive drug development experience which provides substantial
understanding of our clinical product opportunities, qualifies Dr. Scarlett to
serve as a director. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><EM>Robert J. Spiegel, M.D., FACP,</EM></FONT><FONT face="Times New Roman" size=2>
has served as a director of Geron since May 2010. He is also a director of Talon
Therapeutics, Inc. (formerly Hana Biosciences, Inc.), a biopharmaceutical
oncology company, Clavis Pharma ASA, a pharmaceutical company based in Oslo,
Norway, and Avior Computing Corporation, a governance risk and compliance
process technology company. He served as a director for the Cancer Institute of
New Jersey from 1999 to 2009 and as a director of Cancer Care New Jersey from
1995 to 2011. After 26 years with the Schering-Plough Corporation (now Merck
&amp; Co.), a global healthcare company, Dr. Spiegel retired in 2009 as Chief
Medical Officer and Senior Vice President of the Schering-Plough Research
Institute, the pharmaceutical research arm of the Schering-Plough Corporation.
He initially joined Schering-Plough as Director of clinical research for
oncology and rose to hold various positions including Vice President of clinical
research and Senior Vice President of worldwide clinical research. As Senior
Vice President of worldwide clinical research, Dr. Spiegel managed Phase 1 to
Phase 3 clinical development in all therapy areas, including allergy,
respiratory, cardiovascular, immunology, dermatology, oncology and infectious
diseases. As Chief Medical Officer, Dr. Spiegel was involved with over 30 New
Drug Applications, participated in multiple due diligence reviews and
in-licensing decisions, re-engineered pharmacovigilence and risk management
areas and built a quality system for all research operations. Following a
residency in internal medicine, Dr. Spiegel completed a fellowship in medical
oncology at the National Cancer Institute, and from 1981 to 1999 he held
academic positions at the National Cancer Institute and New </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>12</FONT></P>
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<P align=justify><FONT face="Times New Roman" size=2>York University Cancer Center. He
currently is an Associate Fellow at the University of Pennsylvania Center for
Bioethics and an Associate Professor at the Weill Cornell Medical School. Dr.
Spiegel holds a B.A. from Yale University and an M.D. from the University of
Pennsylvania.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>The Board
believes Dr. Spiegel&#146;s extensive medical experience developing oncology
products, his deep understanding of pharmaceutical research and development and
broad expertise in gaining regulatory approval for drug candidates, enhances the
Board&#146;s ability to critically assess the progress and potential of our programs,
and qualifies Dr. Spiegel to serve as a director.</FONT></P>
<P align=center><B><FONT face="Times New Roman" size=2><A NAME="corporategov"></A>CORPORATE GOVERNANCE
MATTERS</FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>We have an ongoing commitment to excellence in corporate governance and
business practices. In furtherance of this commitment, we regularly monitor
developments in the area of corporate governance and review our processes,
policies and procedures in light of such developments. We comply with the rules
and regulations promulgated by the SEC and NASDAQ, and implement additional
corporate governance practices that we believe are in the best interest of Geron
and our stockholders.</FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>Corporate Governance Guidelines
</FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Our Board has adopted &#147;Corporate Governance Guidelines&#148; that set forth
key principles to guide the Board in their exercise of responsibilities and
serve the interests of Geron and our stockholders. These guidelines can be found
on the Corporate Governance page under the Investor Relations section of our
website at www.geron.com. In addition, these guidelines are available in print
to any stockholder who requests a copy. Please direct all requests to our
Corporate Secretary, Geron Corporation, 149 Commonwealth Drive, Suite 2070,
Menlo Park, California 94025. In accordance with these guidelines, a member of
our Board may serve as a director of another company only to the extent such
position does not conflict or interfere with such person&#146;s service as a director
of Geron.</FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>Board Independence </FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In accordance with NASDAQ listing standards and Geron&#146;s Corporate
Governance Guidelines, our Board has affirmatively determined that all nominees
for election at the Annual Meeting and all continuing directors, other than Dr.
Scarlett, are independent under NASDAQ listing standards. The Board consults
with our counsel to ensure that the Board&#146;s determinations are consistent with
relevant securities and other laws and regulations regarding the definition of
&#147;independent,&#148; including those set forth in pertinent listing standards of the
NASDAQ, as in effect from time-to-time.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>One class of the Board is elected annually, and each class of directors
stands for election every three years. From January 2012 to March 2012, the
Board was comprised of seven directors, one of whom was an executive officer,
and six of whom were affirmatively determined by the Board to be independent,
meeting the objective requirements set forth by the SEC and NASDAQ, and having
no relationship, direct or indirect, to Geron other than as stockholders or
through their service on the Board. From March 2012 to September 2012, the Board
was comprised of eight directors, one of whom was an executive officer, and
seven of whom were affirmatively determined by the Board to be independent,
meeting the objective requirements set forth by the SEC and NASDAQ, and having
no relationship, direct or indirect, to Geron other than as stockholders or
through their service on the Board. From September 2012 to December 2012, the
Board was comprised of ten directors, one of whom was an executive officer and
nine of whom were affirmatively determined by the Board to be independent,
meeting the objective requirements set forth by the SEC and NASDAQ, and having
no relationship, direct or indirect, to Geron other than as stockholders or
through their service on the Board. Upon the departure of Messrs. Fritzky and
Kiley from our Board effective on May 22, 2013, the date of the Annual Meeting,
our Board will be comprised of eight directors: one non-independent member, Dr.
Scarlett, our Chief Executive Officer, and seven members who have been
affirmatively determined by the Board to be independent, meeting the objective
requirements set forth by the SEC and NASDAQ, and having no relationship direct
or indirect, to Geron other than as stockholders or through their service on the
Board.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>13</FONT></P>
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<P align=justify><B><FONT face="Times New Roman" size=2>Board Leadership
Structure</FONT></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>The Board has
an independent Chair, Dr. Huh, who has authority, among other things, to call
and preside over Board meetings, including meetings of the independent
directors, to set meeting agendas and to determine materials to be distributed
to the Board. Accordingly, the Board Chair has substantial ability to shape the
work of the Board. Except from February 2011 to September 2011, the role of
Chairman of the Board historically has been separate from the role of Chief
Executive Officer at Geron. From February 2011 to September 2011, we maintained
a Lead Independent Director and an Executive Chairman. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>We believe that separation of the positions of Board Chair and Chief
Executive Officer reinforces the independence of the Board in its oversight of
the business and affairs of Geron. As a result, we believe that having an
independent Board Chair can enhance the effectiveness of the Board as a whole.
In addition, we believe that having an independent Board Chair creates an
environment that is more conducive to objective evaluation and oversight of
management&#146;s performance, increasing management accountability and improving the
ability of the Board to monitor whether management&#146;s actions are in the best
interests of Geron and our stockholders.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Board regularly meets in executive sessions without the presence of
the non-independent director or management.</FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>Board&#146;s Role in Risk Oversight
</FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Geron is subject to a variety of risks, which generally include any
undesired event, circumstance or outcome that could affect Geron&#146;s ability to
achieve its objectives or adversely impact Geron&#146;s business, operations or
financial condition. Some risks may be readily perceived and even quantified,
while others are unexpected or unforeseeable. Risks can be external, such as
those arising from the macroeconomic or industry environment, government
policies or regulations, competitors&#146; activities or natural disasters.
Alternatively, risks can arise as a result of our business or financial
activities. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Board and Geron&#146;s management team work together to manage Geron&#146;s
risks. It is management&#146;s responsibility to manage risk and bring to the Board&#146;s
attention the material risks to the Company. The Board has an active role in
overseeing management of the Company&#146;s risks. The Board regularly reviews
information regarding our credit, liquidity and operations, as well as the risks
associated with each. In addition, our Corporate Governance Guidelines specify
that each of our Board committees oversees the risks within its areas of
responsibilities. While each committee is responsible for evaluating certain
risks and overseeing the management of such risks within its respective
oversight area, the entire Board is regularly informed through committee reports
about such risks. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Compensation Committee of the Board is responsible for overseeing the
management of risks relating to Geron&#146;s employment policies and executive
compensation plans and arrangements. In connection with the structuring of the
compensation elements for executive officers, the Compensation Committee,
together with the Board, considers whether such programs, individually or in the
aggregate, encourage executive officers to take unnecessary risks. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Audit Committee of the Board oversees management of financial risks.
In addition to fulfilling its responsibilities for the oversight of our
financial reporting processes and annual audit of Geron&#146;s financial statements,
the Audit Committee also reviews with the independent auditors and management
the adequacy and effectiveness of our policies and procedures to assess, monitor
and manage business risk and Geron&#146;s ethical compliance program. The Audit
Committee takes the appropriate actions to set the best practices and highest
standards for quality financial reporting, sound business risk practices and
ethical behavior.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Nominating and Corporate Governance Committee of the Board manages
Geron&#146;s corporate governance practices, including certain risks that those
practices are intended to address. In addition, the Nominating and Corporate
Governance Committee reviews risks associated with the independence of the
Board, potential conflicts of interest and risks relating to management and
Board succession planning.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>14</FONT></P>
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<P align=justify><B><I><FONT face="Times New Roman" size=2>Compensation Risk Assessment
</FONT></I></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>The
Compensation Committee annually evaluates Geron&#146;s compensation elements of base
salary, annual incentive bonuses, equity awards, severance and change in control
benefits, other benefits and Geron&#146;s compensation philosophy generally as it
relates to all employees. The Compensation Committee reviews the following
elements of Geron&#146;s compensation practices that balance our compensation
programs to mitigate the risks associated with our compensation practices:
</FONT></P>
<UL style="FONT-SIZE: 10pt; TEXT-ALIGN: justify"><LI><FONT face="Times New Roman" size=2>Performance assessment based upon a mix of
  individual and corporate performance and achievement,</FONT><BR>&nbsp;
  </LI><LI><FONT face="Times New Roman" size=2>Annual incentive bonuses determined by performance
  with no minimum payments,</FONT><BR>&nbsp;
  </LI><LI><FONT face="Times New Roman" size=2>Utilization of a combination of cash and equity
  awards to encourage short-term and long-term</FONT> <FONT face="Times New Roman" size=2>incentives,</FONT><BR>&nbsp;
  </LI><LI><FONT face="Times New Roman" size=2>Absence of employment agreements or contracts that
  contain multi-year guarantees of salary increases,</FONT> <FONT face="Times New Roman" size=2>non-performance-based bonuses or equity compensation,
and</FONT><BR>&nbsp;
  </LI><LI><FONT face="Times New Roman" size=2>Emphasis on equity amongst our employees and in
  comparison with external benchmarks.</FONT> </LI></UL>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Compensation Committee has reviewed our compensation policies and
practices as they relate to all employees and has determined that such policies
and practices do not present any risks that are reasonably likely to have a
material adverse effect on Geron. </FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>Board Committees and Meetings
</FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>It is Geron&#146;s policy to encourage directors to attend annual meetings of
stockholders. All of the then-current directors attended our 2012 Annual
Meeting. During the fiscal year ended December 31, 2012, the Board held nine
meetings. The Board has an Audit Committee, a Compensation Committee, and a
Nominating and Corporate Governance Committee. During the fiscal year ended
December 31, 2012, each of the directors attended at least 88% of the aggregate
number of meetings of the Board and the committees on which the director served,
held during the portion of the last fiscal year for which he or she was a
director or committee member. </FONT></P>
<P align=justify><B><I><FONT face="Times New Roman" size=2>Audit Committee
</FONT></I></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Audit Committee, which is comprised of Ms. Eastham and Messrs.
Bradbury (who joined in September 2012), Fritzky and Kiley, met seven times in
2012. Messrs. Fritzky and Kiley will retire from the Board and the Audit
Committee, and the Board has appointed Dr. Lawlis to the Audit Committee,
effective as of the date of our Annual Meeting on May 22, 2013. All of the
members of the Audit Committee in 2012 were, and all of the members of the Audit
Committee in 2013 are, &#147;independent&#148; as required by NASDAQ Rule 5605(c)(2)(A).
The Board has determined that all of the members of the Audit Committee in 2012
and 2013 are financially literate and that two members of the Audit Committee,
Ms. Eastham and Mr. Bradbury, have accounting and financial management expertise
that qualifies each as an &#147;Audit Committee Financial Expert,&#148; as such term is
defined in Item 407(d)(5) of Regulation S-K promulgated by the SEC. The Audit
Committee&#146;s responsibilities include: (i) sole authority to select, oversee and
replace Geron&#146;s independent registered public accounting firm and pre-approve
any fees paid to such firm, (ii) consulting with the independent auditors with
regard to the plan and scope of the audit, (iii) reviewing, in consultation with
the independent auditors, their report of the audit or proposed report of the
audit, and the accompanying management letter, if any, and (iv) consulting with
the independent auditors and management with regard to the adequacy of Geron&#146;s
internal controls. The Audit Committee operates under a written charter that
satisfies the applicable standards of the SEC and NASDAQ. A copy of the Audit
Committee Charter is available on our website at www.geron.com. See more
information about the Audit Committee in the Audit Committee report on page 55.
</FONT></P>
<P align=justify><B><I><FONT face="Times New Roman" size=2>Compensation Committee
</FONT></I></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Compensation Committee, which is comprised of Drs. Hofstaetter,
Lawlis (who joined in March 2012) and Spiegel, met 12 times in 2012. Each of the
members of the Compensation Committee is &#147;independent,&#148; as required by NASDAQ
Rule 5605(a)(2). The Compensation Committee&#146;s responsibilities include making
recommendations </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>15</FONT></P>
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<P align=justify><FONT face="Times New Roman" size=2>concerning compensation of executive
officers, administering Geron&#146;s incentive compensation and benefit plans, and
performing such other functions regarding compensation as the Board may
delegate. In addition, the Compensation Committee has authority to administer
the 2011 Incentive Award Plan. The Compensation Committee operates under a
written charter that satisfies the applicable standards of the SEC and NASDAQ. A
copy of the Compensation Committee charter is available on our website at
www.geron.com. </FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>Under its
charter, the Compensation Committee has the sole authority, as it deems
appropriate, to retain and/or replace, at Geron&#146;s expense, as needed, any
independent counsel, compensation and benefits consultants and other outside
experts or advisors as the Compensation Committee believes to be necessary or
appropriate. In this regard, the Compensation Committee engaged Radford as a
compensation consultant in evaluating certain executive compensation in 2012.
For information regarding the Compensation Committee&#146;s processes and procedures
for the consideration and determination of executive compensation, including the
role of Radford and our Chief Executive Officer in the determination of
executive compensation, see the section entitled &#147;Compensation Discussion and
Analysis &#150; Role of the Compensation Committee&#148; on page 28. With respect to
director compensation matters, our Board determines and sets non-employee
director compensation. Our compensation arrangements for our non-employee
directors, including Radford&#146;s role with respect to such arrangements for 2012,
are described under the section entitled &#147;Compensation of Directors.&#148;</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><U>Compensation Committee Interlocks
and Insider Participation</U></FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Drs. Hofstaetter and Spiegel served on the Compensation Committee for the
entire fiscal year ended December 31, 2012. In March 2012, in connection with
his appointment to the Board, Dr. Lawlis was appointed to the Compensation
Committee. Not one of Drs. Hofstaetter, Lawlis or Spiegel is a former or current
officer or employee of Geron. None of our executive officers serves as a member
of a compensation committee of any entity that has one or more executive
officers serving as a member of our Board or Compensation Committee.</FONT></P>
<P align=justify><B><I><FONT face="Times New Roman" size=2>Nominating and Corporate
Governance Committee </FONT></I></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Nominating and Corporate Governance Committee&#146;s responsibilities
include developing, reviewing and recommending to the Board corporate governance
guidelines and principles applicable to Geron, making recommendations to the
Board for candidates to be nominated for election or re-election as a director
by the stockholders or by the Board and the corporate governance functions
described in the Nominating and Corporate Governance Committee&#146;s charter. In
2012, the members of the Nominating and Corporate Governance Committee were Mr.
Fritzky, Ms. Eastham and Dr. Molineaux (who joined in September 2012). Mr.
Fritzky will retire from the Board and the Nominating and Corporate Governance Committee, and the Board has appointed Dr. Huh to join the Nominating and Corporate Governance
Committee, effective as of the date of the Annual Meeting, May 22, 2013. The
2012 members of the Nominating and Corporate Governance Committee were, and the
2013 members of the Nominating and Corporate Governance Committee are,
&#147;independent&#148; as defined in NASDAQ Rule 5605(a)(2). The Nominating and Corporate
Governance Committee met on four occasions during 2012. The Nominating and
Corporate Governance Committee will consider nominees for director nominated by
stockholders upon submission in writing to our Corporate Secretary of the names
of such nominees in accordance with our Bylaws. The Nominating and Corporate
Governance Committee will investigate, evaluate and interview, as appropriate, a
director candidate with regard to his or her individual characteristics as well
as how those characteristics fit with the needs of the Board as a whole. The
Nominating and Corporate Governance Committee operates under a written charter
that satisfies the applicable standards of the SEC and NASDAQ. A copy of the
Nominating and Corporate Governance Committee charter is available on our
website at www.geron.com. Specific qualifications and the process for
identification and recommendation of director candidates are provided in more
detail under the section entitled &#147;Stockholder Nominations and Proposals for
2014 Annual Meeting&#148; on page 59. </FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>Code of Conduct </FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In 2003, we adopted a Code of Conduct, which is available in its entirety
on the Corporate Governance page in the Investor Relations section of our
website at www.geron.com and to any stockholder otherwise requesting a copy. All
our employees, officers, and directors, including the Chief Executive Officer
and Chief Financial Officer, are required to adhere to the Code of Conduct in
discharging their work-related responsibilities. Employees are </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>16</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2><A HREF="#toc">Table of Contents</A></font></P>

<P align=justify><FONT face="Times New Roman" size=2>required to report any conduct that
they believe in good faith to be an actual or apparent violation of the Code of
Conduct. Amendments to the Code of Conduct, and any waivers from the Code of
Conduct granted to directors or executive officers, will be made available
through our website as they are adopted.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>In keeping
with the Sarbanes-Oxley Act of 2002, the Audit Committee has established
procedures for the receipt and handling of complaints received by us regarding
accounting, internal accounting controls or auditing matters. Contact
information for the Chairperson of the Audit Committee has been distributed to
all employees to allow for the confidential, anonymous submission by our
employees of concerns regarding accounting or auditing matters.</FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>Communications with the Board
</FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Stockholders wishing to communicate with the Board, or with a specific
Board member, may do so by writing to the Board, or to the particular Board
member, and delivering the communication in person or mailing it to: Board of
Directors, c/o Stephen N. Rosenfield, Corporate Secretary, Geron Corporation,
149 Commonwealth Drive, Suite 2070, Menlo Park, CA 94025. All mail addressed in
this manner will be delivered to the Chair or Chairs of the Committees with
responsibilities touching most closely on the matters addressed in the
communication. From time-to-time, the Board may change the process by means of
which stockholders may communicate with the Board or its members. Please refer
to our website for any changes to this process.</FONT></P>
<P align=center><B><FONT face="Times New Roman" size=2><A NAME="compdirector"></A>COMPENSATION OF
DIRECTORS</FONT></B></P>
<P align=justify><B><FONT face="Times New Roman" size=2>Cash Compensation </FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In March 2012, the Board engaged compensation consultants from Radford to
conduct a comprehensive analysis of non-employee director compensation in
comparison to industry practices. As a result of this analysis, and Radford&#146;s
recommendation, the Board adjusted its annual cash compensation. The following
table describes the annual cash compensation applicable to each role performed
by non-employee directors for the specified time periods in 2012: </FONT></P>
<P align=justify>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="76%" colSpan=2></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="11%" colSpan=9><B><FONT face="Times New Roman" size=1>Effective</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="11%" colSpan=9><STRONG><FONT face="Times New Roman" size=1>Effective</FONT></STRONG></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%" colSpan=2></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="11%" colSpan=9><B><FONT face="Times New Roman" size=1>January 2012
      &#150; March 2012</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="11%" colSpan=9><B><FONT face="Times New Roman" size=1>April 2012 &#150;
      December 2012</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%" colSpan=2></TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="TEXT-ALIGN: center" noWrap width="5%" colSpan=4><B><FONT face="Times New Roman" size=1>Base</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="TEXT-ALIGN: center" noWrap width="5%" colSpan=4><B><FONT face="Times New Roman" size=1>Additional</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" noWrap width="5%" colSpan=4><B><FONT face="Times New Roman" size=1>Base</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" noWrap width="5%" colSpan=4><B><FONT face="Times New Roman" size=1>Additional</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"><B><FONT face="Times New Roman" size=1>Role</FONT></B></TD>
    <TD noWrap align=left width="75%">&nbsp;</TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="5%" colSpan=4><B><FONT face="Times New Roman" size=1>Retainer</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="5%" colSpan=4><B><FONT face="Times New Roman" size=1>Retainer</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="5%" colSpan=4><B><FONT face="Times New Roman" size=1>Retainer</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="5%" colSpan=4><B><FONT face="Times New Roman" size=1>Retainer</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Board member</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>20,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>42,500</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%" colSpan=2><FONT face="Times New Roman" size=2>Chairman of the Board</FONT></TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=left width="2%">&nbsp;</TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%"><FONT face="Times New Roman" size=2>40,000</FONT></TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=left width="2%">&nbsp;</TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%"><FONT face="Times New Roman" size=2>30,000</FONT></TD>
    <TD noWrap align=right width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Audit Committee
Chair<SUP>(1)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>15,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>25,000</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%" colSpan=2><FONT face="Times New Roman" size=2>Compensation Committee Chair<SUP>(1)</SUP></FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%"><FONT face="Times New Roman" size=2>7,500</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%"><FONT face="Times New Roman" size=2>15,000</FONT></TD>
    <TD noWrap align=right width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Nominating and Corporate
Governance</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      Committee Chair<SUP>(1)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>7,500</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>10,000</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%" colSpan=2><FONT face="Times New Roman" size=2>Audit Committee member</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%"><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%"><FONT face="Times New Roman" size=2>12,500</FONT></TD>
    <TD noWrap align=right width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Compensation Committee member</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>7,500</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%" colSpan=2><FONT face="Times New Roman" size=2>Nominating and Corporate Governance</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%" colSpan=2><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Committee member</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%"><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%"><FONT face="Times New Roman" size=2>5,000</FONT></TD>
    <TD noWrap align=right width="1%"></TD></TR></TABLE>____________________</P>
<TABLE style="TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(1)</FONT></TD>
    <TD vAlign=top noWrap><FONT size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Committee Chair does not also
      receive additional Committee member
compensation.</FONT></TD></TR></TABLE>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Prior to the change in April 2012, non-employee director compensation was
payable on the date of the annual meeting of stockholders with respect to the
preceding 12-month period (or a pro rata portion of such amount if such director
served for less than a full year), in cash or, at each director&#146;s election, in
fully vested shares of Common Stock granted under the 2006 Directors&#146; Stock
Option Plan (the &#147;2006 Directors&#146; Plan&#148;) based on the closing price of our
Common Stock on the NASDAQ Global Select Market on the annual meeting date.
</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>17</FONT></P>

<HR align=center width="100%" noShade SIZE=2>
<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>

<!-- PART C -->
<P align=left><FONT face="Times New Roman" size=2><A href="#toc">Table of
Contents</A></FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>Prior to the
change in April 2012, in addition to the above annual cash compensation,
non-employee directors also were eligible to receive the following: </FONT></P>
<TABLE style="TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(i)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%"><FONT face="Times New Roman" size=2>$1,500 for each
      regular or special Board meeting attended by such director in person, and
      $750 for each regular or special Board meeting attended by such director
      by telephone or videoconference; plus</FONT></TD></TR>
  <TR>
    <TD></TD>
    <TD vAlign=top colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(ii)</FONT></TD>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD vAlign=top width="100%"><FONT face="Times New Roman" size=2>For members of the
      Audit Committee, Compensation Committee and Nominating and Corporate Governance Committee of the Board, $750 for each meeting of such
      committee attended by such director in person, and $250 for each meeting
      of such committee attended by such director by telephone or
      videoconference.</FONT></TD></TR></TABLE>
<P align=justify><FONT face="Times New Roman" size=2>The per-meeting compensation under (i)
and (ii) above was payable in cash within ten business days after each meeting.
</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Since April 2012, the annual cash compensation is paid quarterly in
arrears and may be payable in cash, or, at each director&#146;s election, in fully
vested shares of our Common Stock issued under the 2006 Directors&#146; Plan based on
the closing price of our Common Stock on the NASDAQ Global Select Market on the date
retainers would have otherwise been paid. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Additionally, non-employee directors are eligible to receive equity grants, as more
fully described below under the subsection entitled &#147;Equity Compensation.&#148;
Non-employee directors also receive reimbursement for out-of-pocket expenses incurred in
connection with attendance at meetings of the Board.</FONT></P>
<P align=justify><B><I><FONT face="Times New Roman" size=2>Director Compensation Table
</FONT></I></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The following table provides compensation information for the fiscal year
ended December 31, 2012 for each non-employee member of the Board. Dr. Scarlett
does not receive any compensation for his Board service.</FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="83%" colSpan=2></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap style="text-align: center" width="5%" colSpan=3><B><FONT face="Times New Roman" size=1>Fees</FONT></B></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="83%" colSpan=2></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap style="text-align: center" width="5%" colSpan=3><B><FONT face="Times New Roman" size=1>Earned</FONT></B></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="83%" colSpan=2></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap style="text-align: center" width="5%" colSpan=3><B><FONT face="Times New Roman" size=1>or Paid
      in</FONT></B></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap style="text-align: center" width="4%" colSpan=2><B><FONT face="Times New Roman" size=1>Option</FONT></B></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="83%" colSpan=2></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap style="text-align: center" width="5%" colSpan=3><B><FONT face="Times New Roman" size=1>Cash</FONT></B></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap style="text-align: center" width="4%" colSpan=2><B><FONT face="Times New Roman" size=1>Awards</FONT></B></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap style="text-align: center" width="4%" colSpan=2><B><FONT face="Times New Roman" size=1>Total</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="3%"><B><FONT face="Times New Roman" size=1>Director</FONT></B></TD>
    <TD noWrap align=left width="80%">&nbsp;</TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="5%" colSpan=3><B><FONT face="Times New Roman" size=1>($)</FONT></B></TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="4%" colSpan=2><B><FONT face="Times New Roman" size=1>($)<SUP>(1)</SUP></FONT></B></TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="4%" colSpan=2><B><FONT face="Times New Roman" size=1>($)</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="83%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Bradbury, Daniel<SUP>(2)</SUP></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>14,503</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>76,244</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>90,747</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="83%" colSpan=2><FONT face="Times New Roman" size=2>Eastham,
    Karin</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>85,292</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>28,424</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>113,716</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="83%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Fritzky, Edward</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>69,292</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2><SUP>(3)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>28,424</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>97,716</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="83%" colSpan=2><FONT face="Times New Roman" size=2>Hofstaetter,
      Thomas</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>60,791</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2><SUP>(4)</SUP></FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>28,424</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>89,215</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="83%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Huh, Hoyoung</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>85,876</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2><SUP>(5)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>28,424</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>114,300</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="83%" colSpan=2><FONT face="Times New Roman" size=2>Kiley,
    Thomas</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>59,417</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>28,424</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>87,841</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="83%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Lawlis, V. Bryan<SUP>(6)</SUP></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>39,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>98,277</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>137,277</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="83%" colSpan=2><FONT face="Times New Roman" size=2>Molineaux,
      Susan<SUP>(7)</SUP></FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>12,526</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>76,244</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>88,770</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="83%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Spiegel, Robert</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>63,917</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2><SUP>(8)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>28,424</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>92,341</FONT></TD></TR></TABLE>____________________<BR>&nbsp;<BR>
<TABLE style="TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(1)</FONT></TD>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Amounts represent the aggregate
      grant date fair value of stock option awards granted during the fiscal
      year ended December 31, 2012 as calculated in accordance with FASB ASC
      Topic 718. For additional information, refer to Note 10 of the
      consolidated financial statements in our Annual Report on Form 10-K for
      the year ended December 31, 2012 regarding assumptions underlying the
      valuation of option awards and the calculation method.</FONT></TD></TR>
  <TR>
    <TD colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(2)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Mr. Bradbury was appointed to the
      Board in September 2012.</FONT></TD></TR>
  <TR>
    <TD colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(3)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Includes $51,042 in fees paid in
      stock in lieu of cash through the issuance of an aggregate 34,178 shares
      of Geron Common Stock under the 2006 Directors&#146; Plan.</FONT></TD></TR>
  <TR>
    <TD colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(4)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Includes $21,041 in fees paid in
      stock in lieu of cash through the issuance of 14,923 shares of Geron
      Common Stock under the 2006 Directors&#146; Plan.</FONT></TD></TR>
  <TR>
    <TD colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(5)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Includes $30,001 in fees paid in
      stock in lieu of cash through the issuance of 21,277 shares of Geron
      Common Stock under the 2006 Directors&#146; Plan.</FONT></TD></TR></TABLE>
<P align=center><FONT face="Times New Roman" size=2>18</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2><A href="#toc">Table of
Contents</A></FONT></P>
<TABLE style="TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(6)</FONT></TD>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD vAlign=top width="100%"><FONT face="Times New Roman" size=2>Dr. Lawlis was
      appointed to the Board in March 2012.</FONT></TD></TR>
  <TR>
    <TD vAlign=top colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(7)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%"><FONT face="Times New Roman" size=2>Dr. Molineaux was
      appointed to the Board in September 2012.</FONT></TD></TR>
  <TR>
    <TD vAlign=top colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(8)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%"><FONT face="Times New Roman" size=2>Includes $14,375 in
      fees paid in stock in lieu of cash through the issuance of an aggregate
      9,301 shares of Geron Common Stock under the 2006 Directors&#146;
    Plan.</FONT></TD></TR></TABLE>
<P align=justify><B><FONT face="Times New Roman" size=2>Equity Compensation </FONT></B></P>
<P align=justify><B><I><FONT face="Times New Roman" size=2>Terms of Awards
</FONT></I></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>From January
1, 2012 until March 12, 2012, the 2006 Directors&#146; Plan provided for the
automatic grant of the following types of equity awards: </FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <I><FONT face="Times New Roman" size=2>First
Option.</FONT></I><FONT face="Times New Roman" size=2> Each person who became a non-employee
director, whether by election by Geron&#146;s stockholders or by appointment by the
Board to fill a vacancy, was automatically granted an option to purchase 60,000
shares of Common Stock on the date such person first became a non-employee
director (the &#147;First Option&#148;). The First Option vested annually over three years
upon each anniversary date of appointment to the Board. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><EM>Subsequent Awards.</EM></FONT><FONT face="Times New Roman" size=2> Each
non-employee director (other than the Chairman of the Board and any director
receiving a First Option on the date of the annual meeting) was automatically
granted a subsequent option on the date of the Annual Meeting of Stockholders in
each year during such director&#146;s service on the Board (a &#147;Subsequent Option&#148;) to
purchase 10,000 shares of Common Stock and a restricted stock award (a
&#147;Subsequent Stock Award&#148;) of 5,000 shares of Common Stock. In the case of the
Chairman of the Board, the Subsequent Option was for 20,000 shares of Common
Stock and the Subsequent Stock Award was for 10,000 shares of Common Stock.
</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><EM>Committee Chair Service Awards.</EM></FONT><FONT face="Times New Roman" size=2>
On the date of each Annual Meeting of Stockholders, the Chairman of the Audit
Committee was automatically granted an option to purchase 8,000 shares of Common
Stock (a &#147;Committee Chair Service Option&#148;), and a restricted stock award (a
&#147;Committee Chair Service Stock Award&#148;) of 4,000 shares of Common Stock. The
Committee Chair Service Option for the Compensation Committee Chairman and the
Nominating and Corporate Governance Committee Chairman was 4,000 shares of
Common Stock and the Committee Chair Service Stock Award was 2,000 shares of
Common Stock. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><EM>Committee Service Awards.</EM></FONT><FONT face="Times New Roman" size=2> On the
date of each Annual Meeting of Stockholders, each non-employee director serving
on the Audit Committee, Compensation Committee, or Nominating and Corporate
Governance Committee, other than the respective Chairmen of those Committees,
was automatically granted an option to purchase 2,000 shares of Common Stock (a
&#147;Committee Service Option&#148;) and a restricted stock award of 1,000 shares of
Common Stock (a &#147;Committee Service Stock Award&#148;). There was no stock option
grant or restricted stock award contemplated for participation on other
committees. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Until March 13, 2012, the 2006 Directors&#146; Plan provided that each
Subsequent Option, Committee Chair Service Option and Committee Service Option
was fully vested on the date of grant. Each Subsequent Stock Award, Committee
Chair Service Stock Award and Committee Service Stock Award vested annually in
four equal installments over four years commencing on the date of grant and no
payment was required from the non-employee director in order to receive the
award. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><EM>Exercise Price and Term of Options.</EM></FONT><FONT face="Times New Roman" size=2> The exercise price of all stock options granted under the 2006
Directors&#146; Plan is equal to the fair market value of a share of our Common Stock
on the NASDAQ Global Select Market on the date of grant of the option.
</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><EM>Restricted Stock and Restricted Stock Units.</EM></FONT><FONT face="Times New Roman" size=2> In addition to the automatic grant of restricted stock awards
described above, the 2006 Directors&#146; Plan, as amended, also permits the
discretionary grant of restricted stock awards and restricted stock
units.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In connection with the review of non-employee director compensation
conducted in March 2012, and based on the recommendation of Radford, the
compensation consultant to the Compensation Committee, the Board amended the
2006 Directors&#146; Plan effective March 13, 2012 to replace the First Option, the
Subsequent Option, the Subsequent Stock Award, the Committee Chair Service
Option, the Committee Chair Service Stock Award, the Committee Service Option
and the Committee Service Stock Award with the following option grants to
non-employee directors. All other provisions of the 2006 Directors&#146; Plan remain
unchanged. </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>19</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2><A href="#toc">Table of
Contents</A></FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2><I>First Director Option.</I></FONT><FONT face="Times New Roman" size=2>
Each person who becomes a non-employee director, whether by election by Geron&#146;s
stockholders or by appointment by the Board to fill a vacancy, will
automatically be granted an option to purchase 70,000 shares of Common Stock on
the date such person first becomes a non-employee director (the &#147;First Director
Option&#148;). The First Director Option will vest annually over three years upon
each anniversary date of appointment to the Board. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT face="Times New Roman" size=3>&nbsp;&nbsp;&nbsp;&nbsp; </FONT><EM>Subsequent
Director Option.</EM></FONT><FONT face="Times New Roman" size=2> Each
non-employee director (other than any director receiving a First Option on the
date of the annual meeting) will automatically be granted a subsequent option on
the date of the Annual Meeting of Stockholders in each year during such
director&#146;s service on the Board (a &#147;Subsequent Director Option&#148;) to purchase
35,000 shares of Common Stock. The Subsequent Director Option will vest in full
upon the first anniversary of the date of grant. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT face="Times New Roman" size=3>&nbsp;&nbsp;&nbsp;&nbsp; </FONT>The 2006
Directors&#146; Plan no longer provides for the automatic grant of restricted stock
awards, but allows for grants of discretionary restricted stock awards. In prior
years, directors have also received grants of performance-based restricted stock
awards. No restricted stock awards have been granted under the 2006 Directors&#146;
Plan in 2012.</FONT></P>
<P align=justify><B><I><FONT face="Times New Roman" size=2>Effect of Certain
Corporate Events </FONT></I></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT face="Times New Roman" size=3>&nbsp;&nbsp;&nbsp;&nbsp; </FONT>In the event of
the dissolution or liquidation of the Company, a sale of all or substantially
all of the assets of the Company, the merger or consolidation of the Company
with or into another corporation in which the Company is not the surviving
corporation or any other capital reorganization in which more than 50% of the
shares of the Company entitled to vote are exchanged, each non-employee director
shall have a reasonable time within which to exercise the option, including any
part of the option that would not otherwise be exercisable, prior to the
effectiveness of such dissolution, liquidation, sale, merger or reorganization,
at the end of which time the option shall terminate, unless the outstanding
option is assumed or an equivalent option substituted by the successor
corporation (or a parent or subsidiary of the successor corporation). In
addition, except as otherwise provided in an award agreement, unvested shares
subject to awards of restricted stock and restricted stock units will become
fully vested immediately prior to the date of such dissolution, liquidation,
sale, merger, consolidation or reorganization. </FONT></P>
<P align=justify><B><I><FONT face="Times New Roman" size=2>2012 Option Grants
</FONT></I></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT face="Times New Roman" size=3>&nbsp;&nbsp;&nbsp;&nbsp; </FONT>The following
table sets forth the following information with respect to non-employee
directors (nine persons) for the fiscal year ended December 31, 2012: (i) stock
options granted under the 2006 Directors&#146; Plan; and (ii) the grant date fair
value of stock options granted. As discussed above, Geron&#146;s executive officers
and employees are not eligible for grants under the 2006 Directors&#146;
Plan.</FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="82%" colSpan=2></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="4%"><B><FONT face="Times New Roman" size=1>Option Awards</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="82%" colSpan=2></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="4%"><B><FONT face="Times New Roman" size=1>Granted</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="7%" colSpan=4><B><FONT face="Times New Roman" size=1>Grant Date Fair Value of</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="82%" colSpan=2></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="4%" colSpan=2><B><FONT face="Times New Roman" size=1>Grant</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="4%"><B><FONT face="Times New Roman" size=1>During 2012</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="7%" colSpan=4><B><FONT face="Times New Roman" size=1>Option Awards Granted</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="3%"><B><FONT face="Times New Roman" size=1>Director</FONT></B></TD>
    <TD noWrap align=left width="79%">&nbsp;</TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="4%" colSpan=2><B><FONT face="Times New Roman" size=1>Date</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="4%"><B><FONT face="Times New Roman" size=1>(#)</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="7%" colSpan=4><B><FONT face="Times New Roman" size=1>During 2012
      ($)</FONT></B><B><FONT face="Times New Roman" size=1><SUP>(1)</SUP></FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="82%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Bradbury, Daniel<SUP>(2)</SUP></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>9/26/12</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2><SUP>(3)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>70,000</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><STRONG><FONT face="Times New Roman" size=1>&nbsp;&nbsp;
      &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></STRONG></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>76,244</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%" bgColor=#cceeff><STRONG><FONT face="Times New Roman" size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      </FONT></STRONG></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="82%" colSpan=2><FONT face="Times New Roman" size=2>Eastham, Karin</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>5/17/12</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2><SUP>(4)</SUP></FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="4%"><FONT face="Times New Roman" size=2>35,000</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="2%">&nbsp;</TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%"><FONT face="Times New Roman" size=2>28,424</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="82%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Fritzky, Edward</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>5/17/12</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2><SUP>(4)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>35,000</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>28,424</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="82%" colSpan=2><FONT face="Times New Roman" size=2>Hofstaetter, Thomas</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>5/17/12</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2><SUP>(4)</SUP></FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="4%"><FONT face="Times New Roman" size=2>35,000</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%"><FONT face="Times New Roman" size=2>28,424</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="82%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Huh, Hoyoung</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>5/17/12</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2><SUP>(4)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>35,000</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>28,424</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="82%" colSpan=2><FONT face="Times New Roman" size=2>Kiley, Thomas</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>5/17/12</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2><SUP>(4)</SUP></FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="4%"><FONT face="Times New Roman" size=2>35,000</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%"><FONT face="Times New Roman" size=2>28,424</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="82%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Lawlis, V. Bryan<SUP>(5)</SUP></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>3/13/12</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2><SUP>(3)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>70,000</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>69,853</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="82%" bgColor=#cceeff colSpan=2></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>5/17/12</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2><SUP>(4)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>35,000</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>28,424</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="82%" colSpan=2><FONT face="Times New Roman" size=2>Molineaux, Susan<SUP>(6)</SUP></FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>9/26/12</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2><SUP>(3)</SUP></FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="4%"><FONT face="Times New Roman" size=2>70,000</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%"><FONT face="Times New Roman" size=2>76,244</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="82%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Spiegel, Robert</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>5/17/12</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2><SUP>(4)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>35,000</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>28,424</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%" bgColor=#cceeff></TD></TR></TABLE>____________________<BR>&nbsp;<BR>
<TABLE style="TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(1)</FONT></TD>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD vAlign=top width="100%"><FONT face="Times New Roman" size=2>Amounts
      represent the grant date fair value of each stock option granted in 2012
      calculated in accordance with FASB ASC Topic 718. For additional
      information, refer to Note 10 of the consolidated financial statements in
      our Annual Report on Form 10-K for the year ended December 31, 2012
      regarding assumptions underlying the valuation of equity awards and the
      calculation method.</FONT></TD></TR></TABLE>
<P style="TEXT-ALIGN: center"><FONT face="Times New Roman" size=2>20</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2><A href="#toc">Table of
Contents</A></FONT></P>
<TABLE style="TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(2)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%"><FONT face="Times New Roman" size=2>Mr. Bradbury was
      appointed to the Board in September 2012.</FONT></TD></TR>
  <TR>
    <TD vAlign=top colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(3)</FONT></TD>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD vAlign=top width="100%"><FONT face="Times New Roman" size=2>Stock option vests in
      a series of three equal consecutive annual installments commencing from
      the date of grant, provided the director continues to provide services to
      the Company.</FONT></TD></TR>
  <TR>
    <TD vAlign=top colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(4)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%"><FONT face="Times New Roman" size=2>Stock option vests one
      year from the date of grant, provided the director continues to provide
      services to the Company.</FONT></TD></TR>
  <TR>
    <TD vAlign=top colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(5)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%"><FONT face="Times New Roman" size=2>Dr. Lawlis was
      appointed to the Board in March 2012.</FONT></TD></TR>
  <TR>
    <TD vAlign=top colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(6)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%"><FONT face="Times New Roman" size=2>Dr. Molineaux was
      appointed to the Board in September 2012.</FONT></TD></TR></TABLE>
<P align=justify><B><I><FONT face="Times New Roman" size=2>Outstanding Equity Awards at
Fiscal Year-End</FONT></I></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>The following
table sets forth stock options and restricted stock awards, having time-based or
performance-based vesting, outstanding for each non-employee director as of
December 31, 2012. </FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" colSpan=2></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap style="text-align: center" width="9%" colSpan=7><B><FONT face="Times New Roman" size=1>Option Awards Outstanding</FONT></B></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap style="text-align: center" width="13%" colSpan=7><B><FONT face="Times New Roman" size=1>Unvested Restricted Stock
Awards</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" colSpan=2></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="9%" colSpan=7><B><FONT face="Times New Roman" size=1>as of December 31,
      2012</FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="13%" colSpan=7><B><FONT face="Times New Roman" size=1>Outstanding as of December
      31, 2012</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="3%"><B><FONT face="Times New Roman" size=1>Director</FONT></B></TD>
    <TD noWrap align=left width="71%">&nbsp;</TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="4%" colSpan=3><B><FONT face="Times New Roman" size=1>Exercisable
    (#)</FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="4%" colSpan=3><B><FONT face="Times New Roman" size=1>Unexercisable
      (#)</FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="4%" colSpan=3><B><FONT face="Times New Roman" size=1>Time-Based
    (#)</FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="8%" colSpan=3><B><FONT face="Times New Roman" size=1>Performance-Based
      (#)</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Bradbury, Daniel</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>70,000</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" colSpan=2><FONT face="Times New Roman" size=2>Eastham,
    Karin</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="2%"><FONT face="Times New Roman" size=2>110,500</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="2%"><FONT face="Times New Roman" size=2>35,000</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="2%"><FONT face="Times New Roman" size=2>12,375</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"></TD>
    <TD noWrap align=right width="2%"><FONT face="Times New Roman" size=2>47,500</FONT></TD>
    <TD noWrap align=right width="3%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Fritzky, Edward</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>187,750</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>35,000</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>14,936</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>47,500</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" colSpan=2><FONT face="Times New Roman" size=2>Hofstaetter,
      Thomas</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="2%"><FONT face="Times New Roman" size=2>56,375</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="2%"><FONT face="Times New Roman" size=2>55,000</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="2%"><FONT face="Times New Roman" size=2>4,968</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"></TD>
    <TD noWrap align=right width="2%"><FONT face="Times New Roman" size=2>47,500</FONT></TD>
    <TD noWrap align=right width="3%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Huh, Hoyoung</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>97,135</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>130,365</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>49,687</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>55,000</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" colSpan=2><FONT face="Times New Roman" size=2>Kiley,
    Thomas</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="2%"><FONT face="Times New Roman" size=2>139,500</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="2%"><FONT face="Times New Roman" size=2>35,000</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="2%"><FONT face="Times New Roman" size=2>13,718</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"></TD>
    <TD noWrap align=right width="2%"><FONT face="Times New Roman" size=2>47,500</FONT></TD>
    <TD noWrap align=right width="3%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Lawlis, V. Bryan</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>105,000</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" colSpan=2><FONT face="Times New Roman" size=2>Molineaux,
      Susan</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="2%"><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="2%"><FONT face="Times New Roman" size=2>70,000</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="2%"><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"></TD>
    <TD noWrap align=right width="2%"><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="3%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Spiegel, Robert</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>50,000</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>55,000</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>3,750</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>47,500</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff></TD></TR></TABLE><BR>
<P align=center><B><FONT face="Times New Roman" size=2><A NAME="proposal2"></A>PROPOSAL 2</FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2>ADVISORY VOTE TO APPROVE NAMED
EXECUTIVE OFFICER COMPENSATION </FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>As required by Section 951 of the Dodd-Frank Wall Street Reform and
Consumer Protection Act and Section 14A of the Exchange Act, the Board is
requesting stockholders to vote, on a non-binding advisory basis, to approve the
compensation paid to Geron&#146;s Named Executive Officers as disclosed in this Proxy
Statement in the sections entitled, &#147;Compensation Discussion and Analysis&#148; and
&#147;Executive Compensation Tables.&#148; This proposal, commonly known as a &#147;say-on-pay&#148;
proposal, gives stockholders the opportunity to express their views on the
compensation of Geron&#146;s Named Executive Officers. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>As discussed in detail in the section entitled &#147;Compensation Discussion
and Analysis&#148; of this Proxy Statement, Geron&#146;s executive compensation strategy
and structure is based on the following principles: (i) reward successful
execution of business strategy; (ii) attract and retain qualified talent; and
(iii) align management and stockholder interests. The executive compensation
program is designed to achieve the following primary objectives:</FONT></P>
<TABLE style="TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>1.</FONT></TD>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD vAlign=top width="100%"><FONT face="Times New Roman" size=2>Ensure compensation is
      competitive for the role or job to be performed, in order to attract and
      retain executive officers while providing reasonable and responsible pay
      arrangements in order to maintain a sustainable cost
  framework,</FONT></TD></TR>
  <TR>
    <TD></TD>
    <TD vAlign=top colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>2.</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%"><FONT face="Times New Roman" size=2>Maintain a high
      performing work culture by employing and retaining successful and
      experienced personnel and fostering teamwork among and high morale within
      the executive team,</FONT></TD></TR>
  <TR>
    <TD></TD>
    <TD vAlign=top colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>3.</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%"><FONT face="Times New Roman" size=2>Reward and encourage
      successful completion of long-term goals and enhancement of stockholder
      wealth by linking incentive awards to the achievement of individual and
      corporate goals, and</FONT></TD></TR>
  <TR>
    <TD></TD>
    <TD vAlign=top colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>4.</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%"><FONT face="Times New Roman" size=2>Align the interests of
      the executive officers with stockholders by motivating executive officers
      to achieve goals that will increase value for stockholders and reward
      excellence in performance.</FONT></TD></TR></TABLE>
<P align=center><FONT face="Times New Roman" size=2>21</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2><A href="#toc">Table of
Contents</A></FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>The
Compensation Committee actively reviews and assesses our executive compensation
program in light of the highly competitive employment environment in the San
Francisco Bay Area, the challenge of recruiting, motivating and retaining
executive officers in an industry with much longer business cycles than other
commercial industries, and evolving compensation governance and best practices.
In reconciling these areas, the Compensation Committee strives to act in the
long-term best interests of Geron and our stockholders and believes that Geron&#146;s
executive compensation programs are strongly aligned with the long-term
interests of our stockholders. In determining whether to approve this proposal,
the Compensation Committee believes that stockholders should consider the
following: </FONT></P>
<UL style="FONT-SIZE: 10pt; TEXT-ALIGN: justify"><LI><I><FONT face="Times New Roman" size=2>Emphasis on Pay for Performance.
  </FONT></I><FONT face="Times New Roman" size=2>A significant portion of our executive
  officers&#146; total compensation</FONT> <FONT face="Times New Roman" size=2>is variable and at
  risk and tied directly to our measurable performance. For example in 2012,
  the</FONT> <FONT face="Times New Roman" size=2>largest portion of our Chief Executive
  Officer&#146;s total compensation was performance-based (consisting</FONT> <FONT face="Times New Roman" size=2>of annual incentive bonus and annual equity awards). The
  Compensation Committee believes that</FONT> <FONT face="Times New Roman" size=2>this
  structure, which puts a considerable proportion of executive officers&#146; total
  compensation &#147;at</FONT> <FONT face="Times New Roman" size=2>risk,&#148; contingent on
  appreciation of Geron Common Stock, achievement of specific corporate
  goals,</FONT> <FONT face="Times New Roman" size=2>and continued employment, strongly
  aligns the interests of our executive officers with those of our</FONT> <FONT face="Times New Roman" size=2>stockholders, ties their compensation to the most concrete
  measure of performance against critical</FONT> <FONT face="Times New Roman" size=2>corporate goals and promotes retention. None of our Named Executive
  Officers are entitled to</FONT> <FONT face="Times New Roman" size=2>guaranteed or minimum
  bonuses under our annual incentive bonus program.<BR>&nbsp;</FONT>
  </LI><LI><I><FONT face="Times New Roman" size=2>Peer Group Positioning</FONT></I><FONT face="Times New Roman" size=2>. The Compensation Committee utilizes an independent
  compensation</FONT> <FONT face="Times New Roman" size=2>consultant to regularly assess our
  executive compensation program, including total compensation and</FONT> <FONT face="Times New Roman" size=2>individual compensation elements, against peer group market
  data. For 2012, in consultation with</FONT> <FONT face="Times New Roman" size=2>our
  independent compensation consultant, Radford, the Compensation Committee chose
  a peer group</FONT> <FONT face="Times New Roman" size=2>consisting of similarly-sized
  companies at a similar stage of development and of similar complexity,</FONT>
  <FONT face="Times New Roman" size=2>with whom we may compete for talent. The Compensation
  Committee generally targeted our Named</FONT> <FONT face="Times New Roman" size=2>Executive Officers&#146; 2012 total compensation (consisting of base salary,
  target annual incentive bonus</FONT> <FONT face="Times New Roman" size=2>and equity
  awards) to be between the 50<SUP>th </SUP>to 60<SUP>th </SUP>percentile of the
  total compensation to comparable</FONT> <FONT face="Times New Roman" size=2>executive
  officers of our peer group.<BR>&nbsp;</FONT>
  </LI><LI><I><FONT face="Times New Roman" size=2>Responsible Internal Pay Equity</FONT></I><FONT face="Times New Roman" size=2>. For 2012, our Chief Executive Officer&#146;s total actual
  compensation</FONT> <FONT face="Times New Roman" size=2>was less than one and a half times
  the average total actual compensation of our other Named Executive</FONT>
  <FONT face="Times New Roman" size=2>Officers, which reflects internal fairness and an
  important benchmark to avoid excessive compensation</FONT> <FONT face="Times New Roman" size=2>of the Chief Executive Officer.<BR>&nbsp;</FONT>
  </LI><LI><I><FONT face="Times New Roman" size=2>Equity is a Key Component of Compensation and
  Aligns our Compensation Programs with the</FONT></I> <I><FONT face="Times New Roman" size=2>Long-Term Interests of our Stockholders. </FONT></I><FONT face="Times New Roman" size=2>Our equity awards granted in 2012 only provide value if</FONT> <FONT face="Times New Roman" size=2>the market price of our stock increases and if the executive
  officer continues in our employment. </FONT><FONT face="Times New Roman" size=2>Therefore,
  these awards strongly align our executive officers&#146; interests with those of
  our stockholders</FONT> <FONT face="Times New Roman" size=2>by providing a continuing
  financial incentive to maximize long-term value, keeps the executive</FONT>
  <FONT face="Times New Roman" size=2>officers&#146; total compensation opportunity competitive
  and encourages our executive officers to remain</FONT> <FONT face="Times New Roman" size=2>in the long-term employ of our Company.<BR>&nbsp;</FONT>
  </LI><LI><I><FONT face="Times New Roman" size=2>Limited Personal Benefits. </FONT></I><FONT face="Times New Roman" size=2>Our executive officers are eligible for the same benefits as
  non-executive,</FONT> <FONT face="Times New Roman" size=2>salaried employees, and do not
  receive any personal benefits other than a housing allowance and travel</FONT>
  <FONT face="Times New Roman" size=2>reimbursement allowance for Dr. Scarlett, our
  President and Chief Executive Officer.<BR>&nbsp;</FONT>
  </LI><LI><I><FONT face="Times New Roman" size=2>No Tax Gross-Ups on Compensation.
  </FONT></I><FONT face="Times New Roman" size=2>None of our executive officers receive tax
  related gross-ups on</FONT> <FONT face="Times New Roman" size=2>any element of
  compensation.<BR>&nbsp;</FONT>
  </LI><LI><I><FONT face="Times New Roman" size=2>No Single-Trigger Change in Control Cash
  Benefits. </FONT></I><FONT face="Times New Roman" size=2>Executive officer employment
  agreements and our</FONT> <FONT face="Times New Roman" size=2>Amended Severance Plan
  require an actual or constructive termination of employment before any
  cash</FONT> <FONT face="Times New Roman" size=2>benefits are paid.<BR>&nbsp;</FONT>
  </LI><LI><I><FONT face="Times New Roman" size=2>No Retirement Benefits. </FONT></I><FONT face="Times New Roman" size=2>We do not offer any pension plans or health benefits during
  retirement.</FONT> </LI></UL>
<P align=center><FONT face="Times New Roman" size=2>22</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2><A href="#toc">Table of
Contents</A></FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>Advisory Vote and Board
Recommendation </FONT></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>We request
stockholder approval of the 2012 compensation of our Named Executive Officers as
disclosed in this Proxy Statement pursuant to the SEC&#146;s compensation disclosure
rules which disclosure includes the section entitled &#147;Compensation Discussion
and Analysis,&#148; the compensation tables and the narrative disclosures that
accompany the compensation tables within the section entitled &#147;Executive
Compensation Tables&#148; of this Proxy Statement. This vote is not intended to
address any specific element of compensation, but rather the overall
compensation of our Named Executive Officers and the compensation philosophy,
policies and practices described in this Proxy Statement. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Accordingly, the Board recommends that stockholders vote in favor of the
following resolution: </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><STRONG>&#147;RESOLVED, that the stockholders approve, on a non-binding
advisory basis, the compensation paid to Geron&#146;s Named Executive Officers, as
disclosed in the Compensation Discussion and Analysis section, the tabular
disclosure regarding such compensation and the accompanying narrative disclosure
set forth in the Proxy Statement relating to the Company&#146;s 2013 Annual Meeting
of Stockholders.&#148;</STRONG></FONT><FONT face="Times New Roman" size=2> </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Approval of the above resolution requires the affirmative vote of the
shares present in person or represented by proxy at this meeting. Abstentions
will have the same effect as a vote against this proposal, and broker non-votes
will have no effect on the outcome of this proposal. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Stockholders are not being asked to approve or disapprove the Board&#146;s
recommendation. As this is an advisory vote, the outcome of the vote is
non-binding on us with respect to future executive officer compensation
decisions, including those related to our Named Executive Officers, or
otherwise. However, the Board and the Compensation Committee will review the
results of the vote and take them into account when considering future executive
officer compensation policies and decisions. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Board has approved holding a &#147;say-on-pay&#148; advisory vote every year.
Unless the Board modifies its policy on the frequency of future &#147;say-on-pay&#148;
advisory votes, the next &#147;say-on-pay&#148; advisory vote will be held at the 2014
Annual Meeting of Stockholders. </FONT></P>
<P align=center><B><FONT face="Times New Roman" size=2>The Board of Directors Unanimously
Recommends That<BR> Stockholders Vote <U>FOR</U> Proposal 2 </FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2><A NAME="compdiscussion"></A>COMPENSATION DISCUSSION AND ANALYSIS
</FONT></B></P>
<P align=justify><B><FONT face="Times New Roman" size=2>Overview</FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>This Compensation Discussion and Analysis section presents and discusses
executive compensation policies and programs and the compensation decisions
relating to the &#147;Named Executive Officers&#148; (as defined below) for the 2012
fiscal year, and includes the following:</FONT></P>
<UL style="FONT-SIZE: 10pt; TEXT-ALIGN: justify"><LI><FONT face="Times New Roman" size=2>an executive summary of the compensation program
  for the Named Executive Officers;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>a review of executive management changes in
  2012;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>an overview of the executive compensation
  programs;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>the role of the Compensation
  Committee;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>results from the advisory vote in
  2012;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>a detailed discussion and analysis of the
  Compensation Committee&#146;s specific decisions about the 2012</FONT> <FONT face="Times New Roman" size=2>compensation of the Named Executive Officers;</FONT>
<BR>&nbsp;
  </LI><LI><FONT face="Times New Roman" size=2>a description of the employment agreements for the
  Named Executive Officers; and<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>a summary of the potential severance benefits for
  the Named Executive Officers in the event of a</FONT> <FONT face="Times New Roman" size=2>change in control.</FONT> </LI></UL>
<P align=center><FONT face="Times New Roman" size=2>23</FONT></P>
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Contents</A></FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>In addition to
the historical information contained herein, this Compensation Discussion and
Analysis also contains forward-looking statements that are based on current
plans, considerations, expectations and determinations regarding future
compensation programs. The actual compensation programs that we adopt in the
future may differ materially from currently planned programs summarized in this
discussion. </FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>Executive Summary</FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>We structured our 2012 executive compensation program to emphasize pay
for performance and to be reasonable and competitive with the peer companies
with whom we compete for executive talent. The highlights of our executive
compensation program for 2012 are summarized above in Proposal 2.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>We faced uncertainty in the second half of 2012 that created employee
retention challenges and influenced our compensation decisions. We discontinued
our Phase 2 clinical trial of imetelstat in metastatic breast cancer and
discontinued the GRN1005 program in its entirety. In addition, in December 2012,
we announced a restructuring that reduced the workforce from 107 positions to 64
full-time positions. Thus, the compensation decisions in late 2012 and early
2013 were highly influenced by the retention challenges arising from the
significant uncertainty relating to our future with the dependence on one
product candidate, imetelstat, the need to motivate executive officers and
employees to pursue the development opportunities for imetelstat despite the
clinical challenges in 2012, and the competitive market environment for
qualified biotechnology employees. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Although the results from our clinical trials of imetelstat in metastatic
breast cancer and GRN1005 in brain metastases did not yield the desired
outcomes, we conducted operations to maximize our efforts to obtain this
clinical data on a timely basis. As a result, we were able to quickly implement
critical strategic decisions regarding patient welfare, future development plans
for imetelstat and fiscal management. When the Compensation Committee and the
Board evaluated our actions during 2012, they determined that we had met a
significant portion of our corporate goals relating to timely enrollment,
analysis and planning of the clinical trials, in order to best position us for
the opportunity to receive positive results. For example, we completed patient
enrollment in the Phase 2 study of imetelstat in advanced non-small cell lung
cancer to enable an analysis of clinical results by the end of 2012; we
conducted an unplanned interim analysis on top-line results from the Phase 2
trial of imetelstat in metastatic breast cancer and advanced non-small cell lung
cancer; and we assessed top-line data from our Phase 2 trials of imetelstat in
essential thrombocythemia and multiple myeloma. In addition, we fully met our
financial goals and made significant corporate development progress related to
the divestiture of our stem cell assets. As such, the Compensation Committee and
the Board determined that we achieved 88% of our 2012 corporate goals. For
details regarding our achievement of corporate goals in 2012, see section
entitled &#147;Compensation Discussion and Analysis &#150; 2012 Corporate Goal Achievement
Factor&#148; on page 32. The Compensation Committee and the Board also determined
that our Named Executive Officers, including our Chief Executive Officer, made
crucial efforts towards achievement of our corporate goals, as well as leading
individual team, department and functional performance and achievements, despite
challenges during the year and such individuals should be rewarded for those
efforts.</FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>Executive Management Changes in 2012
</FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In January 2012, Graham K. Cooper was appointed Executive Vice President,
Finance and Business Development, and Chief Financial Officer. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In February 2012, Stephen N. Rosenfield was appointed Executive Vice
President, General Counsel and Corporate Secretary. Prior to his appointment,
Mr. Rosenfield served as a legal consultant to Geron commencing in October
2011.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In September 2012, Andrew J. Grethlein, Ph.D., was appointed Executive
Vice President, Technical Operations.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In December 2012, Craig C. Parker was appointed Senior Vice President,
Corporate Development. Prior to his appointment, Mr. Parker served as a business
development consultant to Geron commencing in September 2012.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>24</FONT></P>
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Contents</A></FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>Contemporaneously with Mr. Cooper&#146;s departure from Geron in December 2012
in conjunction with the 2012 restructuring, Olivia K. Bloom was appointed Senior
Vice President, Finance, Chief Financial Officer and Treasurer.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The following executive officers are collectively referred to herein as
the Named Executive Officers: </FONT></P>
<UL style="FONT-SIZE: 10pt; TEXT-ALIGN: justify"><LI><FONT face="Times New Roman" size=2>Dr. John A. Scarlett, President and Chief
  Executive Officer (appointed as Chief Executive Officer in</FONT> <FONT face="Times New Roman" size=2>September 2011 and additionally, as President in January
  2012);<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>Ms. Olivia K. Bloom, Senior Vice President,
  Finance, Chief Financial Officer and Treasurer;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>Mr. Graham K. Cooper, former Executive Vice
  President, Finance, and Chief Financial Officer;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>Dr. Andrew J. Grethlein, Executive Vice President,
  Technical Operations and Acting Head of Research;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>Dr. Stephen M. Kelsey, Executive Vice President, Research &amp; Development, and Chief Medical</FONT> <FONT face="Times New Roman" size=2>Officer; and<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>Mr. Stephen N. Rosenfield, Executive Vice
  President, General Counsel and Corporate Secretary.</FONT> </LI></UL>
<P align=justify><B><FONT face="Times New Roman" size=2>Overview of the Executive
Compensation Program </FONT></B></P>
<P align=justify><B><I><FONT face="Times New Roman" size=2>Philosophy &amp; Objectives
</FONT></I></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The overall objective of the compensation program is to support business
objectives by attracting, retaining and engaging the highest caliber of
employees, including executive officers, while maintaining a fiscally
responsible position in a highly competitive employment environment. Consistent
with this overall objective, the goals of the executive compensation program are
to: </FONT></P>
<UL style="FONT-SIZE: 10pt; TEXT-ALIGN: justify"><LI><FONT face="Times New Roman" size=2>pay appropriate cash and equity compensation to
  executive officers for retention purposes during</FONT> <FONT face="Times New Roman" size=2>periods of significant uncertainty (e.g., in 2013, due to the
  discontinuation of key clinical trials in the</FONT> <FONT face="Times New Roman" size=2>second half of 2012);<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>attract and retain executive officers that can
  capably lead by incentivizing them with competitive cash and</FONT> <FONT face="Times New Roman" size=2>non-cash compensation opportunities;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>enable a high performing culture by employing and
  retaining successful experienced executive officers;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>encourage and inspire the executive officers to
  achieve key corporate strategic and financial objectives</FONT> <FONT face="Times New Roman" size=2>by linking incentive award opportunities to the achievement
  of individual and corporate goals; and<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>align the interests of the executive officers with
  stockholders by motivating executive officers to focus</FONT> <FONT face="Times New Roman" size=2>on achievements that will result in an increase in value for our
  stockholders and reward executive</FONT> <FONT face="Times New Roman" size=2>officers for
  excellence in performance.</FONT> </LI></UL>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Compensation Committee reviews and approves all of the compensation
policies relating to executive officers, including salaries, target annual
incentive bonuses and equity awards (except for the Chief Executive Officer,
whose compensation is approved by the Board). As discussed in further detail
below, the 2012 compensation program for the Named Executive Officers consisted
of, and was intended to strike an appropriate balance among, base salary, target
annual incentive bonuses and equity awards. &#147;Total compensation&#148; referred to in
this Compensation Discussion and Analysis consists of annual base salary, target
annual incentive bonus and equity awards. The Compensation Committee strives to
act in the best interests of Geron and our stockholders, as well as to ensure
that the elements of compensation do not, individually or in the aggregate,
encourage excessive risk taking. </FONT></P>
<P align=justify><B><I><FONT face="Times New Roman" size=2>Components </FONT></I></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The components of the executive compensation program consist primarily of
base salary, annual incentive bonuses, equity awards and broad-based benefits.
To provide competitive total compensation to executive officers, we utilize a
mix of cash (base salaries and annual incentive bonuses) and long-term
incentives (equity awards) </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>25</FONT></P>
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<P align=justify><FONT face="Times New Roman" size=2>that are competitive with the market.
The Compensation Committee has structured our executive compensation program as
follows to ensure that executive officers are compensated in a manner consistent
with stockholder interests, competitive pay practices and applicable
requirements of regulatory bodies. </FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>The
Compensation Committee does not have any formal policies for allocating
compensation among the various components of compensation. Instead, the
Compensation Committee uses its judgment to establish for each Named Executive
Officer a mix of current, short-term and long-term incentive compensation, and
equity, cash and non-cash compensation, that it believes appropriate to achieve
the compensation and corporate objectives described above. However, because we
believe it is important to our success to aggressively pursue long-term goals,
to avoid excessive risk taking, and to preserve our cash resources, and to
further our pay-for-performance philosophy, a significant portion of our Named
Executive Officers&#146; total compensation is comprised of performance-based bonus
opportunities and long-term equity awards, which align the executive officers&#146;
incentives with the interests of our stockholders.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><U>Base Salary</U></FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Base salaries serve to provide a fixed amount of compensation to our
executive officers for performing daily responsibilities and provide stability
and security. Base salaries for executive officers are reviewed and determined
by the Compensation Committee on an annual basis, in consultation with our
compensation consultant, based on each executive officer&#146;s responsibilities,
individual performance, achievement of corporate and strategic goals and a
review of competitive salary and total cash compensation data. Any increases in
base salary are based on an evaluation of the individual&#146;s performance as well
as the individual&#146;s criticality to our future plans. Merit increases typically
take effect on January 1<SUP>st</SUP> of each calendar year. The Board approves
any change in base salary for the Chief Executive Officer based upon
recommendation from the Compensation Committee.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>We generally aim to ensure that the base salaries and total compensation
(comprised of base salary, target annual incentive bonus and equity awards) for
our executive officers, including the Named Executive Officers, are maintained
at competitive levels, which levels are generally targeted, on average, at the
50<SUP>th</SUP> to the 60<SUP>th</SUP> percentile of peer group market data for
executive officers in comparable positions with similar responsibilities. The
Compensation Committee believes this is appropriate because competition for
executive talent is intense in our industry and in our geographic area and
continued leadership from our executive officers is deemed critical to our
success.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><U>Annual Incentive
Bonuses</U></FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Under our annual incentive bonus program, every employee, including
executive officers, has an established annual incentive bonus target, which is
equal to a percentage of the employee&#146;s base salary. This percentage increases
with increasing level of responsibility and title. Each employee&#146;s actual earned
annual incentive bonus, if any, is calculated based on: (1) corporate goal
achievement (corporate goal achievement factor), (2) individual performance
achievements (individual performance factor) and (3) support of corporate values
(the corporate values performance factor). For more senior employees and
executive officers, the weighting of corporate goal achievement has greater
influence on the annual incentive bonus, as performance from these individuals
has a larger impact on performance toward corporate goal achievement. This
program is designed to create a direct link between executive compensation and
operational and financial goals to provide motivation for executive officers to
implement strategic initiatives intended to meet or exceed pre-established
corporate goals.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>At the beginning of each year, the Chief Executive Officer presents the
annual corporate goals, which generally relate to our operational and financial
performance, and recommends weightings for each goal to the Compensation
Committee and the Board. The weighting for each corporate goal depends on its
importance and business value for Geron and our stockholders. The Board approves
the corporate goals and weightings. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>As part of the annual year-end performance review process, the
Compensation Committee, taking into consideration recommendations from the Chief
Executive Officer, evaluates our overall achievement of the corporate goals
during the preceding year and other significant company accomplishments, while
taking into consideration the degree of difficulty in achieving the corporate
goals and any particular events or circumstances that impacted performance. The
corporate goal achievement factor ranges from 0 to 1.0 and is approved by the
Board upon recommendation from the Compensation Committee based upon the Board&#146;s
assessment of Company achievement of annual corporate goals. </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>26</FONT></P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>The Chief
Executive Officer presents to the Compensation Committee written assessments of
the performance and achievements, including support of the corporate values, of
each of the executive officers (other than himself) for the prior year and
recommends the individual performance factor and corporate values performance
factor for each executive officer (other than himself). The Compensation
Committee reviews and approves the individual performance factor and the
corporate values performance factor for each of the executive officers. The
Compensation Committee and Board review and approve the individual performance
factor and corporate values performance factor used in the calculation of an
annual incentive bonus, if any, for the Chief Executive Officer. The corporate
values performance factor ranges from 0 to 1.0. The individual performance
factor ranges from 0 to 1.30, and this is the only factor that may increase an
annual incentive bonus above the annual target incentive bonus percentage for
any employee, including the Named Executive Officers. The Compensation Committee
has the discretion to approve an individual performance factor above 1.30 upon
evaluation of appropriate criteria. There are no minimum or guaranteed bonus
payments for employees, including the Named Executive Officers.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><U>Equity Awards</U></FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Equity awards are designed to encourage high performance by and long-term
tenure for executive officers, thereby strongly aligning executive officers&#146;
interests with the interests of our stockholders. We have granted equity awards
in the form of stock options and restricted stock awards. Additionally, to
further the compensation philosophy of linking compensation with performance,
the Compensation Committee granted performance-based restricted stock awards
(PSAs) in 2010 and 2011 to certain employees, including executive officers, and
members of our Board. The vesting for these PSAs is based on the achievement of
certain specific corporate objectives or market price thresholds of our Common
Stock. These PSAs either will not vest at all or will vest 100% upon achievement
of the specified performance criteria or market price threshold, as applicable,
upon certification of achievement by the Compensation Committee. As of December
31, 2012, the PSAs remain subject to vesting if the corporate objectives or
market price thresholds are attained prior to July 9, 2013 or June 30, 2014, as
applicable. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Stock option grants and restricted stock awards (including PSAs) from the
2002 Equity Incentive Plan and 2011 Incentive Award Plan encourage employee
ownership in Geron, link pay with performance and align the interests of
stockholders and employees. Primarily through sustained growth by and positive
price per share performance in our stock, will employees, including the Named
Executive Officers, be able to realize gains from equity-based awards. The
Compensation Committee determines the size of any stock option grant and
restricted stock award according to each executive officer&#146;s position, and sets
a level it considers appropriate to create an opportunity for reward predicated
on increasing stockholder value. The Compensation Committee also takes into
account each Named Executive Officer&#146;s recent performance history, his or her
potential for future responsibility, and criticality of his or her work. Other
factors may include equity awards previously granted, the amount of actual
versus theoretical equity value per year that has been derived to date by the
individual, the current actual value of the unvested equity grants for each
individual, the percentage of stock option grants with exercise prices greater
than Geron&#146;s stock price and the number of stock option grants that have expired
unexercised as a result of market conditions. The Compensation Committee has the
discretion to give relative weight to each of these factors. There is no set
formula for the granting of stock options or other equity awards to employees,
including the Named Executive Officers. For non-executive employees, the Chief
Executive Officer and other executive officers determine the size of any stock
option grant or restricted stock award according to each position and/or the
individual&#146;s past performance and criticality of the individual&#146;s work.
</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Compensation Committee grants equity awards to newly hired and
existing executive officers, except the Chief Executive Officer, with respect to
whom the Board determines equity awards based on the recommendation of the
Compensation Committee. The Compensation Committee has discretion regarding the
subsequent date upon which awards are effective. Our general policy is to grant
stock options and other equity awards on fixed dates determined in advance,
although there may be occasions when grants are made on other dates. All
required approvals are obtained in advance of or on the actual grant date. We
grant our stock options and other equity awards independent and irrespective of
the existence of any favorable or unfavorable news or developments known or
disclosed by us prior or after such granting.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>27</FONT></P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>The exercise
price of all stock option grants is equal to the closing price of Geron common
stock as reported by the NASDAQ Global Select Market on the date of grant, so
employees and executives who receive stock option grants do not realize any
compensation from such options unless the stock price increases above the
exercise price. In this manner, the interests of our stockholders, and employees
and executive officers during their employment, are aligned for the long-term
success of Geron. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Geron&#146;s standard vesting schedule for the first stock option grant
awarded to newly hired employees, including executive officers, provides that
12.5% of the shares granted will vest six months after the date of the grant,
and the remaining shares will vest in equal monthly installments over the
following 42 months so that vesting is complete four years from the date of
grant, provided the employee continues to provide services to the Company during
that time. Additional option grants made after an employee, including an
executive officer, has provided services to the Company for more than 6 months
generally vest monthly from the date of grant over four years.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><U>Broad-Based Benefits</U></FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Benefit programs include a variety of health insurance plans, 401(k) plan
with Company matching, Employee Stock Purchase Plan and flexible spending 125
cafeteria plan covering health and dependent care services. These benefits are
offered to all employees, including executive officers. We do not offer pension
or other retirement benefits to employees. Currently, Dr. Scarlett receives
housing and travel reimbursement for the commute from his principal residence in
Texas.</FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>Role of the Compensation Committee
</FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Compensation Committee acts on behalf of the Board with respect to
overseeing our compensation policies and programs and in determining
compensation for executive officers, including the Named Executive Officers.
Compensation Committee members are independent of management and meet the NASDAQ
listing standards for independence. Typically, the Compensation Committee meets
at least once quarterly and with greater frequency if necessary. The agenda for
each meeting is usually developed by the Chair of the Compensation Committee, in
consultation with</FONT><B><FONT face="Times New Roman" size=2> </FONT></B><FONT face="Times New Roman" size=2>Chief Executive Officer, Senior Director of Human Resources, General
Counsel and Radford. The Compensation Committee also meets in executive session.
The Compensation Committee exercises independent judgment in allocating between
cash and non-cash, and equity, compensation. In setting the annual level of cash
and equity compensation for executive officers, the Compensation Committee
typically considers various factors, which include: corporate performance, our
achievement toward meeting annual corporate goals, each executive officer&#146;s
individual performance, the criticality of each executive officer&#146;s skill set,
and market data for our industry and defined peer group. Each of these factors
is balanced against Geron&#146;s ability to award cash and equity incentives. The
Compensation Committee has the authority to retain special counsel and other
experts, including compensation consultants to support their responsibilities in
determining executive officer compensation and related programs. Since December
2011, the Compensation Committee has retained Radford as its independent
compensation consultant for their extensive analytical and consulting work in
the biotech/pharmaceutical industry. In this capacity, Radford provided
documentary support, including industry data from third-party salary survey
sources, and recommendations related to cash and equity compensation for
executive officers and members of the Board. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Compensation Committee received information from Radford about
potential conflicts of interest and has analyzed whether the work of Radford as
a compensation consultant has raised any conflict of interest, taking into
consideration the following factors: (i) the provision of other services to
Geron by Radford or any other AON Hewitt Company; (ii) the amount of fees Geron
paid to Radford or any other AON Hewitt Company as a percentage of the firm&#146;s
total revenue; (iii) Radford&#146;s policies and procedures that are designed to
prevent conflicts of interest; (iv) any business or personal relationship of
Radford, any other AON Hewitt Company or the individual compensation advisors
employed by Radford with an executive officer of the Company; (v) any business
or personal relationship of the individual compensation advisors with any member
of the Compensation Committee; and (vi) any Geron common stock owned by the
individual compensation advisors employed by Radford. Based on these factors,
the Compensation Committee determined that there were no conflicts of interest
with respect to Radford providing services to the Compensation
Committee.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>28</FONT></P>

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<!-- PART D -->
<P align=left><FONT face="Times New Roman" size=2><A HREF="#toc">Table of Contents</A></font></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>The
Compensation Committee reviews, and thereafter recommends to the Board, both the
establishment and achievement of annual corporate goals for the annual incentive
bonus program. The Board considers the recommendations of the Compensation
Committee and may modify such recommendations before approval, or approve them
as made. To aid the Compensation Committee in its responsibilities, the Chief
Executive Officer, with the assistance from the General Counsel and Senior
Director of Human Resources, provides the Compensation Committee with
recommendations relating to achievement of our annual corporate goals,
individual performance of executive officers and cash and equity compensation
recommendations for each executive officer. The Chief Executive Officer does not
participate in the Compensation Committee&#146;s or Board&#146;s deliberations or
decisions with regard to his own compensation, which must be approved by the
Board. The Chief Executive Officer reviews the performance of the other
executive officers with the Compensation Committee. The Compensation Committee
does not consult with any other executive officer with regard to its decisions
concerning compensation for executive officers. In making such decisions, the
Compensation Committee gives considerable weight to the Chief Executive
Officer&#146;s performance evaluations of the other executive officers, since he has
direct knowledge of the criticality of their work and performance and
contributions. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In December 2011, the Compensation Committee determined that a definitive
group of peer companies was desirable to provide benchmarks in connection with
2012 executive officer, employee and director compensation matters. Accordingly,
the Compensation Committee engaged Radford, who recommended a comparable peer
group for 2012. Based on Radford&#146;s recommendations, the Compensation Committee
approved a specific peer group in January 2012 to benchmark executive officer
compensation. This peer group consisted of 19 publicly traded, U.S-based
biotechnology/pharmaceutical companies. The majority of these companies were not
commercial, had market capitalizations between $110 million and $430 million,
headcount ranges from 90 to 350 employees and research and development
expenditures ranging from $30 million to $125 million. These parameters
represented one-half of, to two times, those of Geron at the time the peer group
was constructed in January 2012. The companies comprising the 2012 peer group
were: </FONT></P>
<DIV align=center>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="90%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="33%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Affymax</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap align=left width="32%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Exelixis</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap align=left width="33%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Neurocrine Biosciences</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="33%"><FONT face="Times New Roman" size=2>Alnylam Pharmaceuticals</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="32%"><FONT face="Times New Roman" size=2>Infinity Pharmaceuticals</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="33%"><FONT face="Times New Roman" size=2>NPS
      Pharmaceuticals</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="33%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Ardea Biosciences</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="32%" bgColor=#cceeff><FONT face="Times New Roman" size=2>InterMune</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="33%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Optimer Pharmaceuticals</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="33%"><FONT face="Times New Roman" size=2>Arena Pharmaceuticals</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="32%"><FONT face="Times New Roman" size=2>MannKind</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="33%"><FONT face="Times New Roman" size=2>Pharmacyclics</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="33%" bgColor=#cceeff><FONT face="Times New Roman" size=2>DURECT</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="32%" bgColor=#cceeff><FONT face="Times New Roman" size=2>MAP Pharmaceuticals</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="33%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Rigel Pharmaceuticals</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="33%"><FONT face="Times New Roman" size=2>Dynavax Technologies</FONT></TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=left width="32%"><FONT face="Times New Roman" size=2>Micromet</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="33%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="33%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Enzon Pharmaceuticals</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="32%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Nektar Therapeutics</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="33%" bgColor=#cceeff></TD></TR></TABLE></DIV><BR>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In 2012, the Compensation Committee&#146;s general market positioning
strategy, in consultation with Radford, was to target total compensation
(consisting of base salary, target annual incentive bonus and equity awards) for
our Named Executive Officers to be at the 50<SUP>th</SUP> to 60<SUP>th</SUP>
percentile of the Radford peer group market data for each Named Executive
Officer&#146;s position. However, the Compensation Committee retained the ability to
set the individual components or total compensation for an individual Named
Executive Officer to be above or below the positioning target based on factors
such as experience, performance achieved, specific skills or competencies, the
desired pay mix (e.g., cash versus equity) and our budget. The peer group market
data the Compensation Committee examined was provided by Radford and consisted
of publicly filed compensation information from our peer companies as well as
internal Radford survey data regarding our peer companies. The Compensation
Committee believes this market positioning strategy was necessary and
appropriate in order to attract and retain top executive talent in the
competitive environment in which we operate. </FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>2012 Advisory Vote on Executive
Compensation</FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In 2012, we sought an advisory vote from our stockholders regarding our
executive compensation program. Approximately 62% of votes cast supported the
program. The Compensation Committee considers the results of the advisory vote
as it completes its annual review of each pay element and the compensation
packages provided to our Named Executive Officers and other executive officers.
The Compensation Committee considered the 2012 say-on-pay vote and did not make
any significant changes for 2012 as a result of the vote. </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>29</FONT></P>
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<DIV STYLE="PAGE-BREAK-BEFORE: ALWAYS"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2><A HREF="#toc">Table of Contents</A></font></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>The
Compensation Committee believes that our compensation program appropriately
provides competitive compensation for performance, which effectively
incentivizes our Named Executive Officers to maximize shareholder value and
encourages long-term retention. The Compensation Committee will continue to
consider the outcome of our say-on-pay votes and our stockholder views when
making future compensation decisions for the Named Executive Officers.
</FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>2012 Compensation Decisions
</FONT></B></P>
<P align=justify><B><I><FONT face="Times New Roman" size=2>Base Salaries </FONT></I></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The following 2012 base salaries for the Named Executive Officers were
effective as of January 1, 2012 or the Named Executive Officer&#146;s subsequent date
of commencement of employment with us, as applicable. Adjustments to the 2011
base salaries were made in recognition of an executive officer&#146;s individual
achievements and when necessary, in order to align his or her compensation with
the peer group market data provided by Radford. With the exception of Ms. Bloom
and Dr. Kelsey, the Named Executive Officers&#146; 2012 base salaries represent those
salaries set forth in their employment agreements and were determined based on
peer group market data for executive officers in similar positions and
negotiations in connection with their commencement of employment, as applicable.
</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Dr. Scarlett&#146;s base salary was not increased in 2012 and was consistent
with his September 2011 employment agreement with us. Ms. Bloom&#146;s base salary
was increased 6.25% in 2012 as a result of a merit increase and because her 2011
base salary was at approximately the 25<SUP>th</SUP> percentile of the market
data. After such increase, Ms. Bloom&#146;s 2012 base salary approximated the
50<SUP>th</SUP> percentile of the market data. Dr. Kelsey&#146;s base salary was
increased 3.75% in 2012 as a result of a merit increase. After such increase,
Dr. Kelsey&#146;s 2012 base salary was at approximately the 60<SUP>th</SUP>
percentile of the market data. Dr. Scarlett, Mr. Cooper, Dr. Grethlein and Mr.
Rosenfield&#146;s 2012 base salaries represented approximately the 50<SUP>th</SUP> to
60<SUP>th</SUP> percentile of the market data.</FONT></P>
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    <TD noWrap align=left width="84%" colSpan=2></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap style="text-align: center" width="4%" colSpan=2><B><FONT face="Times New Roman" size=1>2011</FONT></B></TD>
    <TD noWrap style="text-align: center" width="3%"></TD>
    <TD noWrap style="text-align: center" width="3%"><B><FONT face="Times New Roman" size=1>Salary</FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="4%" colSpan=3><B><FONT face="Times New Roman" size=1>2012</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="10%"><B><FONT face="Times New Roman" size=1>Named Executive Officer</FONT></B></TD>
    <TD noWrap align=left width="74%">&nbsp;</TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="4%" colSpan=2><B><FONT face="Times New Roman" size=1>Base Salary</FONT></B></TD>
    <TD noWrap style="text-align: center" width="3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="3%"><B><FONT face="Times New Roman" size=1>Increase (%)</FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="4%" colSpan=3><B><FONT face="Times New Roman" size=1>Base
  Salary</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="84%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>John A. Scarlett, M.D.</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>550,000</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff></TD>
    <TD noWrap style="text-align: center" width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>0%</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>550,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="84%" colSpan=2><FONT face="Times New Roman" size=2>Olivia K. Bloom</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=left width="3%"><FONT face="Times New Roman" size=2>240,000</FONT></TD>
    <TD noWrap align=right width="3%"></TD>
    <TD noWrap style="text-align: center" width="3%"><FONT face="Times New Roman" size=2>6.25%</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%"><FONT face="Times New Roman" size=2>255,000</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2><SUP>(1)</SUP></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="84%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Graham K. Cooper</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap style="text-align: center" width="4%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>N/A</FONT></TD>
    <TD noWrap style="text-align: center" width="3%" bgColor=#cceeff></TD>
    <TD noWrap style="text-align: center" width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>N/A</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>375,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="84%" colSpan=2><FONT face="Times New Roman" size=2>Andrew J. Grethlein,
      Ph.D.</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap style="text-align: center" width="4%" colSpan=2><FONT face="Times New Roman" size=2>N/A</FONT></TD>
    <TD noWrap style="text-align: center" width="3%"></TD>
    <TD noWrap style="text-align: center" width="3%"><FONT face="Times New Roman" size=2>N/A</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%"><FONT face="Times New Roman" size=2>355,000</FONT></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="84%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Stephen M. Kelsey, M.D., F.R.C.P., F.R.C.Path.</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>400,000</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff></TD>
    <TD noWrap style="text-align: center" width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>3.75%</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>415,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="84%" colSpan=2><FONT face="Times New Roman" size=2>Stephen N. Rosenfield,
      J.D.</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap style="text-align: center" width="4%" colSpan=2><FONT face="Times New Roman" size=2>N/A</FONT></TD>
    <TD noWrap style="text-align: center" width="3%"></TD>
    <TD noWrap style="text-align: center" width="3%"><FONT face="Times New Roman" size=2>N/A</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%"><FONT face="Times New Roman" size=2>292,000</FONT></TD>
    <TD noWrap align=left width="1%"></TD></TR></TABLE>____________________<BR>&nbsp;<BR>
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  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(1)</FONT></TD>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </TD>
    <TD VALIGN="TOP" WIDTH="100%" STYLE="text-align: justify"><FONT face="Times New Roman" size=2>Ms. Bloom&#146;s 2012 base
      salary was further increased to $330,000 in December 2012 in connection
      with her appointment to Chief Financial
Officer.</FONT></TD></TR></TABLE>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In the first quarter of 2013, based on the recommendations and the peer
group market data provided by Radford, the Compensation Committee and, with
respect to Dr. Scarlett, the Board, approved 3.5% salary increases, which
reflected merit and market adjustments to the base salaries of each of our Named
Executive Officers except for Mr. Cooper, who separated from service with Geron
in December 2012, and Ms. Bloom, who received an adjustment to her base salary
in December 2012.</FONT></P>
<P align=justify><B><I><FONT face="Times New Roman" size=2>2012 Annual Incentive Bonuses
</FONT></I></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Named Executive Officers&#146; 2012 annual incentive bonus targets
remained at the same levels set in 2010 and 2011, which ranged from 40% to 60%
of base salary depending on the executive officer&#146;s position. The annual
incentive bonus targets for senior vice presidents, executive vice presidents
and the Chief Executive Officer are currently 40%, 45% and 60%, respectively. In
connection with Dr. Scarlett&#146;s employment agreement with us, Dr. Scarlett is
eligible to receive an annual incentive bonus target of up to 60% of his annual
base salary, payable at the discretion of the Board. For 2012, other than Dr.
Scarlett, each Named Executive Officer&#146;s annual incentive bonus was 50%
dependent upon achievement of our corporate goals, 30% dependent on their
individual performance and achievement and 20% dependent upon individual
performance of our corporate values. Dr. Scarlett&#146;s 2012 bonus was dependent
upon achievement of our corporate goals and at the discretion </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>30</FONT></P>
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<DIV STYLE="PAGE-BREAK-BEFORE: ALWAYS"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2><A HREF="#toc">Table of Contents</A></font></P>
<P align=justify><FONT face="Times New Roman" size=2>of the Board. The table below
summarizes the annual incentive bonus targets as a percentage of annual salary
for each of our Named Executive Officers for 2012, which were effective at the
beginning of 2012 or the Named Executive Officer&#146;s subsequent date of
commencement of employment with us, as applicable. The annual incentive bonus
targets are set forth in each Named Executive Officer&#146;s employment agreement and
designed to, when combined with base salary and equity awards, i.e., total
compensation, approximate the 50<SUP>th</SUP> to 60<SUP>th</SUP> percentile of
the peer group market data as provided by Radford.</FONT></P>
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  <TR vAlign=bottom>
    <TD noWrap align=left width="94%" colSpan=2></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="5%"><B><FONT face="Times New Roman" size=1>Annual Incentive
      Bonus</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="10%"><B><FONT face="Times New Roman" size=1>Named Executive Officer</FONT></B></TD>
    <TD noWrap align=left width="84%">&nbsp;</TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="5%"><B><FONT face="Times New Roman" size=1>Target as a % of Salary</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="94%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>John A. Scarlett, M.D.</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#cceeff></TD>
    <TD noWrap style="text-align: center" width="5%" bgColor=#cceeff><FONT face="Times New Roman" size=2>60%</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="94%" colSpan=2><FONT face="Times New Roman" size=2>Olivia K. Bloom</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="5%"><FONT face="Times New Roman" size=2>40%</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="94%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Graham K. Cooper<SUP>(1)</SUP></FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#cceeff></TD>
    <TD noWrap style="text-align: center" width="5%" bgColor=#cceeff><FONT face="Times New Roman" size=2>45%</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="94%" colSpan=2><FONT face="Times New Roman" size=2>Andrew J. Grethlein,
      Ph.D.<SUP>(2)</SUP></FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="5%"><FONT face="Times New Roman" size=2>45%</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="94%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Stephen M. Kelsey, M.D., F.R.C.P., F.R.C.Path.</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#cceeff></TD>
    <TD noWrap style="text-align: center" width="5%" bgColor=#cceeff><FONT face="Times New Roman" size=2>45%</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="94%" colSpan=2><FONT face="Times New Roman" size=2>Stephen N. Rosenfield,
      J.D.</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="5%"><FONT face="Times New Roman" size=2>45%</FONT></TD></TR></TABLE>____________________<BR>&nbsp;<BR>
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  <TR>
    <TD VALIGN="TOP" NOWRAP STYLE="text-align: justify"><FONT face="Times New Roman" size=2>(1)</FONT></TD>
    <TD VALIGN="TOP" NOWRAP STYLE="text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </TD>
    <TD VALIGN="TOP" WIDTH="100%" STYLE="text-align: justify"><FONT face="Times New Roman" size=2>In connection with the
      December 2012 restructuring, Mr. Cooper separated employment from the
      Company. Under the Transition and Separation agreement between us and Mr.
      Cooper (the &#147;Cooper Separation Agreement&#148;), Mr. Cooper was paid severance
      benefits that included a lump-sum payment equal to his 2012 target annual
      incentive bonus, pro-rated for his service to us in 2012 through his
      separation date. See the section entitled &#147;Severance and Change in Control
      Benefits&#148; for a further description of the severance benefits paid to Mr.
      Cooper.</FONT></TD></TR>
  <TR>
    <TD VALIGN="TOP" WIDTH="100%" COLSPAN="3" STYLE="text-align: justify">&nbsp; </TD></TR>
  <TR>
    <TD VALIGN="TOP" NOWRAP STYLE="text-align: justify"><FONT face="Times New Roman" size=2>(2)</FONT></TD>
    <TD VALIGN="TOP" NOWRAP STYLE="text-align: justify"></TD>
    <TD VALIGN="TOP" WIDTH="100%" STYLE="text-align: justify"><FONT face="Times New Roman" size=2>The annual incentive
      bonus earned by Dr. Grethlein for 2012 is pro-rated for his service to us
      in 2012 from his September 2012 hire date.</FONT></TD></TR></TABLE>
<P align=center><FONT face="Times New Roman" size=2>31</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV STYLE="PAGE-BREAK-BEFORE: ALWAYS"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2><A HREF="#toc">Table of Contents</A></font></P>
<P align=justify><FONT face="Times New Roman" size=2><U>2012 Corporate Goal Achievement
Factor</U></FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>The table
below summarizes the corporate goals approved by the Board for 2012, including
assigned weightings, and the Compensation Committee&#146;s and Board&#146;s assessment of
our level of achievement of those goals in 2012. Based on these assessments,
Geron&#146;s overall corporate goal achievement factor for 2012 was 88%.</FONT></P>
<TABLE style="PADDING-RIGHT: 2pt; PADDING-LEFT: 4pt; FONT-SIZE: 10pt; PADDING-BOTTOM: 2pt; PADDING-TOP: 2pt; LINE-HEIGHT: 11pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=bottom noWrap align=left width="34%" colSpan=3><B><FONT face="Times New Roman" size=1>2012 Corporate Goal</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=bottom noWrap align=center width="12%"><B><FONT face="Times New Roman" size=1>Weighting<BR>(A)</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=bottom noWrap align=center width="30%"><B><FONT face="Times New Roman" size=1>Highlights of<BR>Company
      Performance</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=bottom noWrap align=center width="12%"><B><FONT face="Times New Roman" size=1>Percentage<BR>Achievement<BR>(B)</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=bottom noWrap align=center width="12%"><B><FONT face="Times New Roman" size=1>Total<BR>(A x B)</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" vAlign=top noWrap align=left width="1%"><STRONG><FONT face="Times New Roman" size=2>1.</FONT></STRONG></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=left width="33%" colSpan=2><B><FONT face="Times New Roman" size=2>Clinical
      Development:</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=left width="12%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=left width="30%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=left width="12%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=left width="12%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" vAlign=top noWrap align=center width="1%">&nbsp;&nbsp; &nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=left width="33%" colSpan=2><B><I><FONT face="Times New Roman" size=2>Imetelstat</FONT></I></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=left width="12%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=left width="30%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=left width="12%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=left width="12%"></TD></TR>
  <TR>
    <TD style="BORDER-LEFT: #000000 1pt solid" vAlign=top noWrap align=center width="1%">&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="1%"><FONT face="Times New Roman" size=2>a)</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; PADDING-LEFT: 0pt" vAlign=top align=left width="32%"><FONT face="Times New Roman" size=2>Given a
      defined, minimum progression-free survival, PFS, event count, analyze,
      interpret, and report top-line data from Phase 2 randomized trial in
      advanced non-small cell lung cancer, or NSCLC.</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%">
      <P align=center><FONT face="Times New Roman" size=2>a) 12.5%</FONT></P></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top align=left width="30%">
      <UL style="FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 16px">
        <LI><FONT face="Times New Roman" size=2>Completed patient
        enrollment in Phase 2 study
        of imetelstat in advanced
        non-small cell lung cancer in
        a timely manner to enable
        analysis of clinical results
        by the end of the
        year.</FONT> </li>
        <LI><FONT face="Times New Roman" size=2>Developed telomere length diagnostic assay to retrospectively measure tumor telomere length in Formalin Fixed Paraffin Embedded tumor samples to be utilized for an exploratory sub-group analysis of data from the Phase 2 trial of imetelstat in advanced non-small cell lung cancer.</FONT> </li>
        <LI><FONT face="Times New Roman" size=2>Performed exploratory sub-group analysis of data from the Phase 2 trial of imetelstat in advanced non-small cell lung cancer based on segregation by tumor telomere length.</FONT> </LI></UL></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%"><FONT face="Times New Roman" size=2>a) 100%</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%">
      <P align=center><FONT face="Times New Roman" size=2>a)
  12.5%</FONT></P></TD></TR>
  <TR>
    <TD style="BORDER-LEFT: #000000 1pt solid" vAlign=top noWrap align=center width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top align=left width="32%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top align=left width="30%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%"></TD></TR>
  <TR>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=center width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=left width="1%"><FONT face="Times New Roman" size=2>b)</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; PADDING-LEFT: 0pt; BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=left width="32%"><FONT face="Times New Roman" size=2>Given a defined, minimum PFS event count, analyze, interpret, and
      report top-line data from Phase 2 randomized trial in metastatic breast
      cancer.</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=center width="12%">
      <P align=center><FONT face="Times New Roman" size=2>b) 12.5%</FONT></P></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=left width="30%">
      <UL style="FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 16px">
        <LI><FONT face="Times New Roman" size=2>Completed patient
        enrollment in Phase 2 trial
        of imetelstat in metastatic
        breast cancer in a timely
        manner to enable analysis of
        clinical results by the end
        of the year.</FONT> </LI>
        <LI><FONT face="Times New Roman" size=2>Conducted unplanned
        interim analysis on top-line
        results from the Phase 2
        trial of imetelstat in
        metastatic breast cancer and
        Phase 2 trial of imetelstat
        in advanced non-small cell
        lung cancer.</FONT> </LI></UL></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=center width="12%">
      <P align=center><FONT face="Times New Roman" size=2>b) 100%</FONT></P></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=center width="12%">
      <P align=center><FONT face="Times New Roman" size=2>b)
  12.5%</FONT></P></TD></TR></TABLE><BR>
<P align=center><FONT face="Times New Roman" size=2>32</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV STYLE="PAGE-BREAK-BEFORE: ALWAYS"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2><A HREF="#toc">Table of Contents</A></font></P>
<TABLE style="PADDING-RIGHT: 2pt; PADDING-LEFT: 4pt; FONT-SIZE: 10pt; PADDING-BOTTOM: 2pt; PADDING-TOP: 2pt; LINE-HEIGHT: 11pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=bottom noWrap align=left width="34%" colSpan=3><B><FONT face="Times New Roman" size=1>2012 Corporate Goal</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=bottom noWrap align=center width="12%"><B><FONT face="Times New Roman" size=1>Weighting<BR>(A)</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=bottom noWrap align=center width="30%"><B><FONT face="Times New Roman" size=1>Highlights of<BR>Company
      Performance</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=bottom noWrap align=center width="12%"><B><FONT face="Times New Roman" size=1>Percentage<BR>Achievement<BR>(B)</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=bottom noWrap align=center width="12%"><B><FONT face="Times New Roman" size=1>Total<BR>(A x B)</FONT></B></TD></TR>


  <TR>
    <TD style="BORDER-LEFT: #000000 1pt solid" vAlign=top noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="1%"><FONT size=2 face="Times New Roman">c)</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; PADDING-LEFT: 0pt" vAlign=top align=left width="32%"><FONT size=2 face="Times New Roman">Analyze, interpret, and report top-line data from Phase 2 studies
      in essential thrombocythemia and multiple myeloma.</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%">
      <P align=center><FONT face="Times New Roman" size=2>c) 10%</FONT></P></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top align=left width="30%">
      <UL style="FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 16px"><LI><FONT face="Times New Roman" size=2>Assessed top-line data from the Phase 2
        trials of imetelstat in essential thrombocythemia and multiple myeloma.</FONT>
        </LI><LI><FONT face="Times New Roman" size=2>Presented top-line data from the first 14
        patients enrolled in the essential thrombocythemia trial at the December
        2012 American Society of Hematology annual meeting.</FONT> </LI></UL></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%"><FONT size=2 face="Times New Roman">c) 100%</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%">
      <P align=center><FONT face="Times New Roman" size=2>c) 10%</FONT></P></TD></TR>
  <TR>
    <TD style="BORDER-LEFT: #000000 1pt solid" vAlign=top noWrap align=center width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top align=left width="32%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top align=left width="30%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%"></TD></TR>
  <TR>
    <TD style="BORDER-LEFT: #000000 1pt solid" vAlign=top noWrap align=center width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"><FONT size=2 face="Times New Roman">d)</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; PADDING-LEFT: 0pt" vAlign=top align=left width="32%"><FONT size=2 face="Times New Roman">Present initial integrated Product Development Plan to Board of
      Directors.</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%">
      <P align=center><FONT face="Times New Roman" size=2>d) 10%</FONT></P></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top align=left width="30%">
      <UL style="FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 16px"><LI><FONT face="Times New Roman" size=2>Presented Product Development Plan to Board
        in November 2012.</FONT><FONT face="Times New Roman" size=2></FONT> </LI></UL></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%">
      <P align=center><FONT size=2 face="Times New Roman">d) 100%</FONT></P></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%">
      <P align=center><FONT face="Times New Roman" size=2>d) 10%</FONT></P></TD></TR>
  <TR>
    <TD style="BORDER-LEFT: #000000 1pt solid" vAlign=top noWrap align=center width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top align=left width="32%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top align=left width="30%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%"></TD></TR>
  <TR>
    <TD style="BORDER-LEFT: #000000 1pt solid" vAlign=top noWrap align=center width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top align=left width="33%" colSpan=2>
      <P align=justify><B><I><FONT face="Times New Roman" size=2>GRN1005</FONT></I></B></P></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top align=left width="30%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%"></TD></TR>
  <TR>
    <TD style="BORDER-LEFT: #000000 1pt solid" vAlign=top noWrap align=center width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"><FONT size=2 face="Times New Roman">a)</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; PADDING-LEFT: 0pt" vAlign=top align=left width="32%"><FONT size=2 face="Times New Roman">Given
      appropriate safety and efficacy to justify continuing enrollment, complete
      80% of planned enrollment in Phase 2 trial of brain metastases in
      metastatic breast cancer.</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%">
      <P align=center><FONT face="Times New Roman" size=2>a) 10%</FONT></P></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top align=left width="30%">
      <UL style="FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 16px"><LI><FONT face="Times New Roman" size=2>Conducted futility analysis on data from
        GRN1005 Phase 2 clinical trial in patients with brain metastases arising
        from metastatic breast cancer.</FONT></LI></UL></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%">
      <P align=center><FONT size=2 face="Times New Roman">a) 100%</FONT></P></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%">
      <P align=center><FONT face="Times New Roman" size=2>a) 10%</FONT></P></TD></TR>
  <TR>
    <TD style="BORDER-LEFT: #000000 1pt solid" vAlign=top noWrap align=center width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top align=left width="32%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top align=left width="30%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%"></TD></TR>
  <TR>
    <TD style="BORDER-LEFT: #000000 1pt solid" vAlign=top noWrap align=center width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"><FONT size=2 face="Times New Roman">b)</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; PADDING-LEFT: 0pt" vAlign=top align=left width="32%"><FONT size=2 face="Times New Roman">Given
      appropriate safety and efficacy to justify continuing enrollment, complete
      70% of planned enrollment in Phase 2 trial of brain metastases in
      NSCLC.</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%">
      <P align=center><FONT face="Times New Roman" size=2>b) 5%</FONT></P></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top align=left width="30%">
      <P>&nbsp;</P></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%">
      <P align=center><FONT size=2 face="Times New Roman">b) 0%</FONT></P></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%">
      <P align=center><FONT face="Times New Roman" size=2>b) 0%</FONT></P></TD></TR>
  <TR>
    <TD style="BORDER-LEFT: #000000 1pt solid" vAlign=top noWrap align=center width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top align=left width="32%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top align=left width="30%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%"></TD></TR>
  <TR>
    <TD style="BORDER-LEFT: #000000 1pt solid" vAlign=top noWrap align=center width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"><FONT size=2 face="Times New Roman">c)</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; PADDING-LEFT: 0pt" vAlign=top align=left width="32%"><FONT size=2 face="Times New Roman">Present initial integrated Product Development Plan to Board of
      Directors in Q4 2012 that encompasses nonclinical, clinical, regulatory,
      commercial, chemistry, manufacturing and controls, and financial plans
      through to commercial launch.</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%">
      <P align=center><FONT face="Times New Roman" size=2>c) 5%</FONT></P></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top align=left width="30%">
      <UL style="FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 16px"><LI><FONT face="Times New Roman" size=2>Developed initial product development plans
        for GRN1005 program.</FONT></LI></UL></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%">
      <P align=center><FONT size=2 face="Times New Roman">c) 100%</FONT></P></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%">
      <P align=center><FONT face="Times New Roman" size=2>c) 5%</FONT></P></TD></TR>
  <TR>
    <TD style="BORDER-LEFT: #000000 1pt solid" vAlign=top noWrap align=center width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top align=left width="32%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top align=left width="30%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%"></TD></TR>
  <TR>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=center width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=left width="1%"><FONT size=2 face="Times New Roman">d)</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; PADDING-LEFT: 0pt; BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=left width="32%"><FONT size=2 face="Times New Roman">Develop initial commercial cost of goods targets and initiate
      process improvement plans.</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=center width="12%">
      <P align=center><FONT face="Times New Roman" size=2>d) 5%</FONT></P></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=left width="30%">
      <UL style="FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 16px"><LI><FONT face="Times New Roman" size=2>Developed initial cost of goods targets and
        initiated manufacturing process improvement plans.</FONT></LI></UL></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=center width="12%">
      <P align=center><FONT size=2 face="Times New Roman">d) 100%</FONT></P></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=center width="12%">
      <P align=center><FONT face="Times New Roman" size=2>d)
5%</FONT></P></TD></TR></TABLE><BR>
<P align=center><FONT face="Times New Roman" size=2>33</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV STYLE="PAGE-BREAK-BEFORE: ALWAYS"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2><A HREF="#toc">Table of Contents</A></font></P>
<TABLE style="PADDING-RIGHT: 2pt; PADDING-LEFT: 4pt; FONT-SIZE: 10pt; PADDING-BOTTOM: 2pt; PADDING-TOP: 2pt; LINE-HEIGHT: 11pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=bottom noWrap align=left width="34%" colSpan=3><B><FONT face="Times New Roman" size=1>2012 Corporate Goal</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=bottom noWrap align=center width="12%"><B><FONT face="Times New Roman" size=1>Weighting<BR>(A)</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=bottom noWrap align=center width="30%"><B><FONT face="Times New Roman" size=1>Highlights of<BR>Company
      Performance</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=bottom noWrap align=center width="12%"><B><FONT face="Times New Roman" size=1>Percentage<BR>Achievement<BR>(B)</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=bottom noWrap align=center width="12%"><B><FONT face="Times New Roman" size=1>Total<BR>(A x B)</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" vAlign=top noWrap align=left width="1%"><STRONG><FONT size=2 face="Times New Roman">2.</FONT></STRONG></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=left width="33%" colSpan=2><B><FONT face="Times New Roman" size=2>Research:</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=left width="12%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=left width="30%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=left width="12%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=left width="12%"></TD></TR>
  <TR>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; vertical-align: top; text-align: center; width: 1%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: #000000 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: left; width: 33%"><FONT size=2 face="Times New Roman">Complete the synthesis of 70 potential lead molecules and complete
      in vivo screening of 14 lead molecules in relevant tumor models to enable
      decision making to move candidate(s) into preclinical
    development.</FONT></TD>
    <TD NOWRAP STYLE="border-right: #000000 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: center; width: 12%">
      <P align=center><FONT face="Times New Roman" size=2>5%</FONT></P></TD>
    <TD STYLE="border-right: #000000 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: left; width: 30%">
      <UL style="FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 16px"><LI><FONT face="Times New Roman" size=2>Partially met synthesis targets for
        potential lead molecules that included positive in vivo efficacy data
        for new molecular entities in oncology research.</FONT></LI></UL></TD>
    <TD NOWRAP STYLE="border-right: #000000 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: center; width: 12%"><FONT size=2 face="Times New Roman">60%</FONT></TD>
    <TD NOWRAP STYLE="border-right: #000000 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: center; width: 12%">
      <P align=center><FONT face="Times New Roman" size=2>3%</FONT></P></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" vAlign=top noWrap align=left width="1%"><STRONG><FONT size=2 face="Times New Roman">3.</FONT></STRONG></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=left width="33%" colSpan=2><B><FONT face="Times New Roman" size=2>Corporate
      Development:</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=left width="12%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=left width="30%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=left width="12%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=left width="12%"></TD></TR>
  <TR>
    <TD NOWRAP STYLE="border-left: #000000 1pt solid; vertical-align: top; text-align: center; width: 1%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: #000000 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: left; width: 33%"><FONT size=2 face="Times New Roman">Complete disposition of stem cell programs</FONT></TD>
    <TD NOWRAP STYLE="border-right: #000000 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: center; width: 12%">
      <P align=center><FONT face="Times New Roman" size=2>10%</FONT></P></TD>
    <TD STYLE="border-right: #000000 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: left; width: 30%">
      <UL style="FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 16px"><LI><FONT face="Times New Roman" size=2>Signed letter of intent with BioTime, Inc.
        and its subsidiary, BioTime Acquisition Corporation; however, full
        disposition of stem cell programs not completed in
    2012.</FONT></LI></UL></TD>
    <TD NOWRAP STYLE="border-right: #000000 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: center; width: 12%"><FONT size=2 face="Times New Roman">50%</FONT></TD>
    <TD NOWRAP STYLE="border-right: #000000 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; text-align: center; width: 12%">
      <P align=center><FONT face="Times New Roman" size=2>5%</FONT></P></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" vAlign=top noWrap align=left width="1%"><STRONG><FONT size=2 face="Times New Roman">4.</FONT></STRONG></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=left width="33%" colSpan=2><B><FONT face="Times New Roman" size=2>Administration:</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=left width="12%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=left width="30%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=left width="12%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=left width="12%"></TD></TR>
  <TR>
    <TD style="BORDER-LEFT: #000000 1pt solid" vAlign=top noWrap align=center width="1%">&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="1%"><FONT size=2 face="Times New Roman">a)</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; PADDING-LEFT: 0pt" vAlign=top align=left width="32%"><FONT size=2 face="Times New Roman">Manage expenditures to Board-approved budget with appropriate
      financial controls and reporting.</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%">
      <P align=center><FONT face="Times New Roman" size=2>a) 10%</FONT></P></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top align=left width="30%">
      <UL style="FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 16px"><LI><FONT face="Times New Roman" size=2>Managed cash burn of less than $70 million
        in 2012.</FONT></LI></UL></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%"><FONT size=2 face="Times New Roman">a) 100%</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%">
      <P align=center><FONT face="Times New Roman" size=2>a) 10%</FONT></P></TD></TR>
  <TR>
    <TD style="BORDER-LEFT: #000000 1pt solid" vAlign=top noWrap align=center width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top align=left width="32%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top align=left width="30%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid" vAlign=top noWrap align=center width="12%"></TD></TR>
  <TR>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=center width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=left width="1%"><FONT size=2 face="Times New Roman">b)</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; PADDING-LEFT: 0pt; BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=left width="32%"><FONT size=2 face="Times New Roman">Establish corporate systems and processes to promote a high
      performance culture with values that foster inclusion, accountability, and
      management excellence by enhancing the performance management system,
      implementing a Leadership Forum, decentralizing purchasing approval and
      budget accountability, and measuring progress via employee group feedback
      and surveys.</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=center width="12%">
      <P align=center><FONT face="Times New Roman" size=2>b) 5%</FONT></P></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=top align=left width="30%">
      <UL style="FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 16px"><LI><FONT face="Times New Roman" size=2>Implemented corporate systems and processes
        that enabled a high performing work environment</FONT></LI></UL></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=center width="12%">
      <P align=center><FONT size=2 face="Times New Roman">b) 100%</FONT></P></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=center width="12%">
      <P align=center><FONT face="Times New Roman" size=2>b) 5%</FONT></P></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=left width="34%" colSpan=3><B><FONT face="Times New Roman" size=2>Total</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=left width="12%">
      <P align=center><FONT face="Times New Roman" size=2>100%</FONT></P></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=left width="30%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=left width="12%"></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" vAlign=top noWrap align=left width="12%">
      <P align=center><FONT face="Times New Roman" size=2>88%</FONT></P></TD></TR></TABLE>
<P align=justify><FONT face="Times New Roman" size=2><U>Individual Performance and Corporate
Values Performance Factors</U> </FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>For all
employees in 2012, including the Named Executive Officers, actual individual
performance factors ranged from 0.85 to 1.30. For the Named Executive Officers,
except for the Chief Executive Officer and Mr. Cooper, his or her 2012
individual performance factor was based on overall performance and achievement,
which reflected: his or her support of the 2012 corporate goals; individual,
team, departmental and functional performance and achievements, including
performance and achievements beyond the corporate, individual, team,
departmental and functional goals. The corporate values performance factors
ranged from 0 to 1.0, based on how the Named Executive Officer supported
corporate value adherence. Our corporate values are authenticity,
accountability, excellence, integrity and respect. </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>34</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV STYLE="PAGE-BREAK-BEFORE: ALWAYS"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2><A HREF="#toc">Table of Contents</A></font></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>The following
are the annual incentive bonus targets and weighting percentages used to
calculate the 2012 annual incentive bonus for each of the Named Executive
Officers as well as the 2012 actual bonus percentage awarded. </FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="64%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"><B><FONT face="Times New Roman" size=1>(A)</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"><B><FONT face="Times New Roman" size=1>(B)</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"><B><FONT face="Times New Roman" size=1>(C)</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"><B><FONT face="Times New Roman" size=1>(D)</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"><B><FONT face="Times New Roman" size=1>(E)</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"><B><FONT face="Times New Roman" size=1>(F)</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"><B><FONT face="Times New Roman" size=1>(G)</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"><B><FONT face="Times New Roman" size=1>=
      (A*B*C)</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="64%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"><B><FONT face="Times New Roman" size=1>+
      (A*D*E)</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="64%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"><B><FONT face="Times New Roman" size=1>+(A*F*G)</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="64%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"><B><FONT face="Times New Roman" size=1>Annual</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"><B><FONT face="Times New Roman" size=1>Annual</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="64%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"><B><FONT face="Times New Roman" size=1>Incentive</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"><B><FONT face="Times New Roman" size=1>2012</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"><B><FONT face="Times New Roman" size=1>2012</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"><B><FONT face="Times New Roman" size=1>Incentive</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="64%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"><B><FONT face="Times New Roman" size=1>Bonus</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" colSpan=3><B><FONT face="Times New Roman" size=1>Corporate</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"><B><FONT face="Times New Roman" size=1>Corporate</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"><B><FONT face="Times New Roman" size=1>2012</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"><B><FONT face="Times New Roman" size=1>Corporate</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"><B><FONT face="Times New Roman" size=1>Bonus</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="64%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"><B><FONT face="Times New Roman" size=1>Target</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" colSpan=3><B><FONT face="Times New Roman" size=1>Goal</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"><B><FONT face="Times New Roman" size=1>Goal</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"><B><FONT face="Times New Roman" size=1>Individual</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"><B><FONT face="Times New Roman" size=1>Individual</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"><B><FONT face="Times New Roman" size=1>Corporate</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"><B><FONT face="Times New Roman" size=1>Values</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"><B><FONT face="Times New Roman" size=1>Awarded</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="64%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"><B><FONT face="Times New Roman" size=1>as
      a</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" colSpan=3><B><FONT face="Times New Roman" size=1>Achievement</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"><STRONG><FONT face="Times New Roman" size=1>Achievement</FONT></STRONG></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"><STRONG><FONT face="Times New Roman" size=1>Performance</FONT></STRONG></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"><STRONG><FONT face="Times New Roman" size=1>Performance</FONT></STRONG></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"><B><FONT face="Times New Roman" size=1>Values</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"><B><FONT face="Times New Roman" size=1>Performance</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"><STRONG><FONT face="Times New Roman" size=1>as a % of</FONT></STRONG></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="64%"><B><FONT style="PADDING-BOTTOM: 1pt; BORDER-BOTTOM: #000000 1pt solid" face="Times New Roman" size=1>Named Executive Officer</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="2%"><B><FONT face="Times New Roman" size=1>% of Salary</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="3%" colSpan=3><STRONG><FONT face="Times New Roman" size=1>Weighting</FONT></STRONG></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="3%"><B><FONT face="Times New Roman" size=1>Factor</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%">&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="3%"><B><FONT face="Times New Roman" size=1>Weighting</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="3%"><B><FONT face="Times New Roman" size=1>Factor</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%">&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="3%"><B><FONT face="Times New Roman" size=1>Weighting</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%">&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="3%"><B><FONT face="Times New Roman" size=1>Factor</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%">&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="1%"><B><FONT face="Times New Roman" size=1>Salary</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="64%" bgColor=#cceeff><FONT face="Times New Roman" size=2>John
      A. Scarlett, M.D.<SUP>(1)</SUP></FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>60%</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>100%</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>0.88</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>N/A</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>N/A</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>N/A</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>N/A</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>52.8%</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="64%"><FONT face="Times New Roman" size=2>Olivia K.
    Bloom</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"><FONT face="Times New Roman" size=2>40%</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>50%</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"><FONT face="Times New Roman" size=2>0.88</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"><FONT face="Times New Roman" size=2>30%</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"><FONT face="Times New Roman" size=2>1.10</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"><FONT face="Times New Roman" size=2>20%</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"><FONT face="Times New Roman" size=2>1.00</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"><FONT face="Times New Roman" size=2>38.8%</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="64%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Graham K. Cooper<SUP>(2)</SUP></FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>45%</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>50%</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>N/A</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>30%</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>N/A</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>20%</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>N/A</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>N/A</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="64%"><FONT face="Times New Roman" size=2>Andrew J. Grethlein,
      Ph.D.<SUP>(3)</SUP></FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"><FONT face="Times New Roman" size=2>45%</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>50%</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"><FONT face="Times New Roman" size=2>0.88</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"><FONT face="Times New Roman" size=2>30%</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"><FONT face="Times New Roman" size=2>1.10</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"><FONT face="Times New Roman" size=2>20%</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"><FONT face="Times New Roman" size=2>1.00</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"><FONT face="Times New Roman" size=2>43.7%</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="64%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Stephen M. Kelsey, M.D.,</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff>&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="64%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; F.R.C.P., F.R.C.Path.</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>45%</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>50%</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>0.88</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>30%</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>1.10</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>20%</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>1.00</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>43.7%</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="64%"><FONT face="Times New Roman" size=2>Stephen N.
      Rosenfield, J.D.</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"><FONT face="Times New Roman" size=2>45%</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"><FONT face="Times New Roman" size=2>50%</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"><FONT face="Times New Roman" size=2>0.88</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"><FONT face="Times New Roman" size=2>30%</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"><FONT face="Times New Roman" size=2>1.25</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"><FONT face="Times New Roman" size=2>20%</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"><FONT face="Times New Roman" size=2>1.00</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"><FONT face="Times New Roman" size=2>45.7%</FONT></TD></TR></TABLE>____________________<BR>&nbsp;<BR>
<TABLE style="FONT-SIZE: 10pt; LINE-HEIGHT: 11pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD VALIGN="TOP" NOWRAP STYLE="text-align: justify"><FONT face="Times New Roman" size=2>(1)</FONT></TD>
    <TD VALIGN="TOP" NOWRAP STYLE="text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </TD>
    <TD VALIGN="TOP" WIDTH="100%" STYLE="text-align: justify"><FONT face="Times New Roman" size=2>Dr. Scarlett&#146;s 2012
      bonus is described below under the section entitled &#147;2012 Annual Incentive
      Bonus for Chief Executive Officer.&#148;</FONT></TD></TR>
  <TR>
    <TD VALIGN="TOP" COLSPAN="3" STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD VALIGN="TOP" NOWRAP STYLE="text-align: justify"><FONT face="Times New Roman" size=2>(2)</FONT></TD>
    <TD VALIGN="TOP" NOWRAP STYLE="text-align: justify"></TD>
    <TD VALIGN="TOP" WIDTH="100%" STYLE="text-align: justify"><FONT face="Times New Roman" size=2>In connection with the
      December 2012 restructuring, Mr. Cooper separated employment from the
      Company. Under the Cooper Separation Agreement, Mr. Cooper was paid
      severance benefits that included a lump-sum payment equal to his 2012
      target annual incentive bonus, pro-rated for his service to us in 2012
      through his separation date. See the section entitled &#147;Severance and
      Change in Control Benefits&#148; for a further description of the severance
      benefits paid to Mr. Cooper.</FONT></TD></TR>
  <TR>
    <TD VALIGN="TOP" COLSPAN="3" STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD VALIGN="TOP" NOWRAP STYLE="text-align: justify"><FONT face="Times New Roman" size=2>(3)</FONT></TD>
    <TD VALIGN="TOP" NOWRAP STYLE="text-align: justify"></TD>
    <TD VALIGN="TOP" WIDTH="100%" STYLE="text-align: justify"><FONT face="Times New Roman" size=2>Dr. Grethlein joined
      Geron in September 2012. The bonus percentages shown were applied against
      a pro-rated base salary for Dr. Grethlein&#146;s length of service during
      2012.</FONT></TD></TR></TABLE>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>For 2012, the Compensation Committee concurred with Dr. Scarlett&#146;s
recommendation for each executive officer&#146;s individual performance and corporate
values performance factor, as discussed in detail below. Ms. Bloom was awarded
an individual performance factor of 1.10 and a corporate values performance
factor of 1.0 based primarily on the following achievements: </FONT></P>
<UL style="FONT-SIZE: 10pt"><LI STYLE="text-align: justify"><FONT face="Times New Roman" size=2>Successfully monitoring and controlling expenses
  to stay within a $70 million spending level. In doing so, Ms. Bloom implemented a new Financial Planning and Analysis
  function, which provided monthly budgeted
  versus actual reporting, and drafted and implemented a new purchasing and
  contracts policy;</FONT> <BR>&nbsp;
  </LI><LI STYLE="text-align: justify"><FONT face="Times New Roman" size=2>Providing expert oversight of Geron&#146;s accounting
  function, compliance with SEC and other regulatory requirements (including requests made by the Financial Industry
  Regulatory Authority), preparing SEC disclosure
  documents (including the 10-K, 10-Qs and proxy materials) and tax documents,
  performing accounting technical research in
  connection with the ViaCyte transaction and stem cell divestiture,</FONT>
  <FONT face="Times New Roman" size=2>and directly implementing new accounting principles
  and disclosures (including eXtensible Business Reporting Language reporting); and</FONT> <BR>&nbsp;
  </LI><LI STYLE="text-align: justify"><FONT face="Times New Roman" size=2>Providing strong support for the stem cell
  divestiture transaction, including review and editing of transaction documents, researching available coverage from
  an indemnification insurance policy specifically covering this transaction and overseeing planning and
  scheduling of the wind down activities related
  to the exit of Geron&#146;s facilities as a result of the discontinuation of the
  stem cell programs.</FONT> </LI></UL>
<P STYLE="text-align: justify"><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Dr. Grethlein was awarded an individual performance factor of 1.10 and a
corporate values performance factor of 1.0 based primarily on the following
achievements since joining Geron in September 2012:</FONT></P>
<UL style="FONT-SIZE: 10pt"><LI STYLE="text-align: justify"><FONT face="Times New Roman" size=2>Rapidly and successfully assessing both the
  Process Development and Manufacturing, or PDM, and Quality functions, including personnel and capabilities. Dr. Grethlein
  also rapidly provided an expert assessment of
  the status, plans, cost structures and development strategies related to
  Geron&#146;s chemistry,</FONT> </LI></UL>
<P align=center><FONT face="Times New Roman" size=2>35</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV STYLE="PAGE-BREAK-BEFORE: ALWAYS"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2><A HREF="#toc">Table of Contents</A></font></P>

  <P align=justify style="padding-left: 30pt"><FONT face="Times New Roman" size=2>manufacturing and controls for both the imetelstat and GRN1005 programs to senior management. These assessments were critical to Dr. Grethlein&#146;s
  ability to successfully manage these two functions in light of the strategic realignment instituted in the fourth quarter
  of 2012; </font></p>
<UL style="FONT-SIZE: 10pt">
<LI STYLE="text-align: justify"><FONT face="Times New Roman" size=2>Enabling both the Quality and PDM functions to
  achieve their internal goals for technical performance, productivity, communication, and decision-making in the
  fourth quarter of 2012; and</FONT> <BR>&nbsp;
  </LI><LI STYLE="text-align: justify"><FONT face="Times New Roman" size=2>At the end of 2012, assuming responsibility for
  our Discovery Research function and moving quickly to commence a detailed assessment of the function, including proposing a
  clinical research plan for 2013.</FONT> </LI></UL>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>Dr. Kelsey was
awarded an individual performance factor of 1.10 and a corporate values
performance factor of 1.0 based primarily on the following achievements:
</FONT></P>
<UL style="FONT-SIZE: 10pt"><LI STYLE="text-align: justify"><FONT face="Times New Roman" size=2>Ensuring that enrollment goals were met for the
  imetelstat solid tumor and essential thrombocythemia trials, and for the GRN1005 metastatic breast cancer trial in brain
  metastases;<BR>&nbsp;</FONT>
  </LI><LI STYLE="text-align: justify"><FONT face="Times New Roman" size=2>Ensuring that the data emerging from the Phase 2
  imetelstat and GRN1005 trials were of the highest and most timely quality, and that a highly qualified and functioning
  internal safety monitoring committee and our
  statisticians had immediate access to critical information in the fourth
  quarter of 2012 for both programs;</FONT>
<BR>&nbsp;
  </LI><LI STYLE="text-align: justify"><FONT face="Times New Roman" size=2>Successfully leading the senior management team in
  a technically proficient, rapid review of the safety and efficacy of imetelstat in the two Phase 2 imetelstat solid tumor
  trials, and the futility analysis for the Phase
  2 GRN1005 trial of brain metastases arising from metastatic breast cancer,
  thereby enabling us to take decisive action
  with regard to both programs;</FONT> <BR>&nbsp;
  </LI><LI STYLE="text-align: justify"><FONT face="Times New Roman" size=2>Presenting the results of these analyses to
  internal personnel, the Board, trial investigators and investors in a highly interpretable, scientifically and medically
  valid and appropriate manner, thereby enabling us to retain maximum value with respect to those development programs
  that were carried forward;</FONT> <BR>&nbsp;
  </LI><LI STYLE="text-align: justify"><FONT face="Times New Roman" size=2>Successfully leading the clinical development
  function in its assessment and public presentation of the data from the Phase 2 trial of imetelstat in essential
  thrombocythemia, thereby enabling external recognition of our accomplishments and leading the development of
  imetelstat in hematologic malignancies;
  and</FONT> <BR>&nbsp;
  </LI><LI STYLE="text-align: justify"><FONT face="Times New Roman" size=2>Ensuring that the key development components of
  the GRN1005 and imetelstat product development plans were provided in a timely manner and with high quality detail,
  with particular emphasis on clinical
  development and regulatory plans that met our strategic objectives.</FONT>
  </LI></UL>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Mr. Rosenfield was awarded an individual performance factor of 1.25 and a
corporate values performance factor of 1.0 based primarily on the following
achievements:</FONT></P>
<UL style="FONT-SIZE: 10pt"><LI STYLE="text-align: justify"><FONT face="Times New Roman" size=2>Providing outstanding legal guidance to the Board
  and its committees;</FONT> <BR>&nbsp;
  </LI><LI STYLE="text-align: justify"><FONT face="Times New Roman" size=2>Providing outstanding legal guidance to senior
  management and Geron in general, as particularly evidenced by Mr. Rosenfield&#146;s careful and timely review of key SEC
  documents;</FONT> <BR>&nbsp;
  </LI><LI STYLE="text-align: justify"><FONT face="Times New Roman" size=2>Providing key business leadership that
  significantly improved the content of public presentations of our activities, including both investor presentations and
  quarterly analyst conference calls;</FONT> <BR>&nbsp;
  </LI><LI STYLE="text-align: justify"><FONT face="Times New Roman" size=2>Actively engaging in the management of the legal
  team responsible for concluding the stem cell divestiture to yield an agreement that maximized the benefits to Geron
  while carefully implementing strategies to
  minimize risk to the Board, the Company and our stockholders;</FONT>
<BR>&nbsp;
  </LI><LI STYLE="text-align: justify"><FONT face="Times New Roman" size=2>Successfully effecting changes in our internal
  procedures and groups to ensure that contracts and publicly disclosed information was subjected to appropriate review and
  approval;</FONT> <BR>&nbsp;
  </LI><LI STYLE="text-align: justify"><FONT face="Times New Roman" size=2>Leading the effort to successfully revamp and
  substantially improve the analysis and recommendations for employee and executive officer compensation to senior management,
  the Board and the Compensation Committee;
  and</FONT> <BR>&nbsp;
  </LI><LI STYLE="text-align: justify"><FONT face="Times New Roman" size=2>Providing key input to the assessment of our
  corporate culture and morale, and leading the development of programs to promulgate our corporate values, including
  successfully overseeing the development of improved human resources recognition and reward systems.</FONT>
</LI></UL>
<P align=center><FONT face="Times New Roman" size=2>36</FONT></P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>In connection
with the December 2012 restructuring, Mr. Cooper separated employment from the
Company. Under the Cooper Separation Agreement, Mr. Cooper was paid severance
benefits that included a lump-sum payment equal to his 2012 target annual
incentive bonus, pro-rated for his service to us in 2012 through his separation
date. See the section entitled &#147;Severance and Change in Control Benefits&#148; for a
further description of the severance benefits paid to Mr. Cooper. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><U>2012 Annual Incentive Bonus for
Chief Executive Officer</U></FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Compensation Committee evaluated the 2012 performance of Dr. Scarlett
and made a recommendation to the Board that Dr. Scarlett should receive 100% of
his target annual incentive bonus of 60%, which the Board approved. The Board
noted that Dr. Scarlett&#146;s 2012 annual incentive bonus was structured to be based
solely on our achievement of our annual corporate goals. This would have
resulted in Dr. Scarlett receiving 88% (instead of 100%) of his target annual
incentive bonus of 60%, or $290,400 instead of $330,000. However, the Board used
its discretion to award a higher 2012 annual incentive bonus based on Dr.
Scarlett&#146;s strong individual performance in addition to our 2012 corporate goal
achievements. These included: demonstrating strategic leadership (i.e., weighing
the developmental capabilities of Geron and the likelihood of success of product
candidates, focusing the development and research functions and ensuring prudent
expenditure of resources), strengthening the management team and structure,
ensuring compliance and ethical practices, communicating with the Board and
investors, managing the executive team and strengthening our corporate culture
and employee commitment. Dr. Scarlett&#146;s strong individual performance was
accomplished despite the discontinuation of several key clinical trials in the
second half of 2012.</FONT></P>
<P align=justify><B><I><FONT face="Times New Roman" size=2>2012 Equity
Awards</FONT></I></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Compensation Committee granted stock options to all employees on May
17, 2012, the same date as the 2012 Annual Meeting of Stockholders. This was
also the date that non-employee board members received their equity awards in
accordance with the 2006 Directors&#146; Plan. To determine the appropriate size of
the May 2012 option grants to each of the Named Executive Officers, the
Compensation Committee first pre-approved an option grant benchmarking guideline
provided by Radford that was based on employee level. This guideline recommended
a target number of options that could be awarded to an employee, including the
Named Executive Officers, based on an individual&#146;s position. For the Named
Executive Officers, total compensation (consisting of base salary, target annual
incentive bonus and equity awards) was targeted to be at the 50<SUP>th</SUP> to
60<SUP>th</SUP> percentile of the peer group market data provided by Radford.
The Compensation Committee determined that the equity awards granted to the
Named Executive Officers in 2012 should consist of stock options rather than
restricted stock awards that vest over time or depend upon specific corporate
goals because stock options deliver future value only if the value of our stock
increases above the exercise price. The Compensation Committee believed that
this structure was the best approach for 2012 for incentivizing our executive
officers to increase stockholder value. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The exercise price for the May 2012 stock option grants was equal to the
closing price of Geron common stock as reported by the NASDAQ Global Select
Market on the date of grant and the vesting schedule was monthly over four years
from the date of grant, provided the employee continued to provide services to
Geron and had been employed for more than 6 months at the time of grant.
</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In 2012, the Compensation Committee also approved stock option grants to
Mr. Rosenfield and Dr. Grethlein in connection with their commencement of
employment. Mr. Rosenfield was granted an option for 425,000 shares in February
2012 and Dr. Grethlein was granted an option for 600,000 shares in September
2012. These grants represented amounts the Compensation Committee determined
were appropriate to recruit each of Dr. Grethlein and Mr. Rosenfield and were
consistent with the 50<SUP>th</SUP> to 60<SUP>th</SUP> percentile of peer group
market data, as provided by Radford, for initial equity grants for individuals
in similar positions with similar responsibilities to Dr. Grethlein and Mr.
Rosenfield. The exercise price for each of the stock option grants to Mr.
Rosenfield and Dr. Grethlein was equal to the closing price of Geron common
stock as reported by the NASDAQ Global Select Market on the date of grant. Each
of the stock option grants to Mr. Rosenfield and Dr. Grethlein also follow the
standard vesting schedule for newly hired employees which provides that 12.5% of
the shares granted will vest six months after the date of the grant, and the
remaining shares will vest in equal monthly installments over the following 42
months so that vesting is complete four years from the date of grant, provided
the employee continues to provide services to the Company during that
time.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>37</FONT></P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>See the section
entitled &#147;Grants of Plan-Based Awards for 2012&#148; on page 46 for additional information
regarding stock option awards to Named Executive Officers in 2012.</FONT></P>
<P align=justify><B><I><FONT face="Times New Roman" size=2>Other
Compensation</FONT></I></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Geron offers a comprehensive array of benefit programs to its employees,
including Named Executive Officers. These include: </FONT></P>
<UL style="FONT-SIZE: 10pt"><LI STYLE="text-align: justify"><FONT face="Times New Roman" size=2>Comprehensive medical, dental, vision coverage and
  life insurance;</FONT> <BR>&nbsp;
  </LI><LI STYLE="text-align: justify"><FONT face="Times New Roman" size=2>A &#147;cafeteria&#148; plan administered pursuant to
  Section 125 of the Internal Revenue Code of 1986, as amended (the &#147;Code&#148;). The cafeteria plan includes Geron&#146;s medical and
  dental insurance, medical reimbursement, and
  dependent care reimbursement plans;</FONT> <BR>&nbsp;
  </LI><LI STYLE="text-align: justify"><FONT face="Times New Roman" size=2>A 401(k) plan, which is a retirement savings
  defined contribution plan established in accordance with Section 401(a) of the Code. For 2012, we matched 100% of
  each employee&#146;s annual contributions in Geron
  common stock, subject to a certain vesting schedule commencing from the
  employee&#146;s start date; and</FONT> <BR>&nbsp;
  </LI><LI STYLE="text-align: justify"><FONT face="Times New Roman" size=2>The Employee Stock Purchase Plan, which is
  implemented and administered pursuant to Section 423 of the Code.</FONT> </LI></UL>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Executive officers pay for 30% of their health premium cost, which is
deducted from their gross salary. Other employees pay either 16% or 25% of their
health premium cost.</FONT></P>

<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>We do not offer any pension plans or health benefits during
retirement. </FONT></P>
<P align=justify><B><I><FONT face="Times New Roman" size=2>Perquisites </FONT></I></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In accordance with his employment agreement, Dr. Scarlett receives
reimbursement for housing (not to exceed $2,000 per month) and travel costs (not
to exceed $20,000 per year) in connection with the commute from his personal
residence in Texas. Dr. Scarlett does not receive separate compensation for
serving as a member of our Board.</FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>Employment Agreements</FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>We have entered into a written employment agreement with each of the
Named Executive Officers setting forth the terms of their employment. The
agreements also provide for certain severance benefits upon a covered
termination of the executive officer&#146;s employment, and for accelerated vesting
of options in connection with a change in control transaction, which terms are
further described below under the section entitled &#147;Severance and Change in
Control Benefits.&#148; </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>We entered into an employment agreement with Dr. Scarlett dated September
29, 2011, in connection with his commencement of employment with us. The
employment agreement provides that Dr. Scarlett will receive an annual base
salary of $550,000 and that he is eligible to receive an annual discretionary
bonus targeted at 60% of his annual base salary. Dr. Scarlett will also be
reimbursed for out-of-pocket rent expenses not to exceed $2,000 per month and
out-of-pocket commuting expenses not to exceed $20,000 per year. The employment
agreement additionally provided for a stock option grant to purchase 1,000,000
shares of Geron Common Stock.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>We entered into an employment agreement with Ms. Bloom dated December 7,
2012, in connection with her appointment as our Senior Vice President,
Finance, Chief Financial Officer and Treasurer. The employment agreement, which
superseded an employment agreement between Ms. Bloom and us dated January 21,
2003, as amended December 19, 2008 (the &#147;2003 Employment Agreement&#148;), provides
that Ms. Bloom will receive an annual base salary of $330,000 and that she is
eligible to receive an annual discretionary bonus targeted at 40% of her annual
base salary. Under the 2003 Employment Agreement, Ms. Bloom was entitled to an
annual base salary and was eligible to participate in Geron&#146;s benefit plans.
</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>We entered into an employment agreement with Mr. Cooper effective January
1, 2012, in connection with his commencement of employment with us. The
employment agreement provides that Mr. Cooper will receive an annual base salary
of $375,000 and that he is eligible to receive an annual discretionary bonus
targeted at 45% </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>38</FONT></P>
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<P align=justify><FONT face="Times New Roman" size=2>of his annual base salary. The
employment agreement additionally provided for a stock option grant to purchase
500,000 shares of Geron Common Stock. We entered into a Transition and
Separation agreement effective December 13, 2012 in connection with Mr. Cooper&#146;s
separation from employment from the Company (the &#147;Cooper Separation Agreement&#148;),
as further described in the section entitled &#147;Severance and Change in Control
Benefits.&#148; </FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>We entered
into an employment agreement with Dr. Grethlein effective September 17, 2012, in
connection with his commencement of employment with us. The employment agreement
provides that Dr. Grethlein will receive an annual base salary of $355,000 and
that he is eligible to receive an annual discretionary bonus targeted at 45% of
his annual base salary. The employment agreement additionally provided for a
stock option grant to purchase 600,000 shares of Geron Common Stock. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>We entered into an employment agreement with Dr. Kelsey dated April 8,
2009. The employment agreement provided that Dr. Kelsey would receive an annual
base salary of $400,000, an annual discretionary bonus of up to 45% of his
annual base salary, an option grant to purchase 200,000 shares of Geron Common
Stock and, if he started prior to May 1, 2009, an additional restricted stock award grant of 40,000
shares of Geron Common Stock vesting over two years. Effective January 31, 2013,
we entered into a new employment agreement with Dr. Kelsey that superseded the
prior agreement. The new agreement provides that Dr. Kelsey will receive an
annual base salary of $429,525 and that he is eligible to receive an annual
discretionary bonus targeted at 45% of his annual base salary. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>We entered into an employment agreement with Mr. Rosenfield effective
February 16, 2012, in connection with his commencement of employment with us.
The employment agreement provides that Mr. Rosenfield will receive an annual
base salary of $292,000 and that he is eligible to receive an annual
discretionary bonus targeted at 45% of his annual base salary. The employment
agreement additionally provided for a stock option grant to purchase 425,000
shares of Geron Common Stock. </FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>Severance and Change in Control
Benefits </FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In September 2002, the Board approved a Severance Plan that became
effective on January 21, 2003 and was subsequently amended and restated in
October 2006 and December 2008. It was further amended and restated in February
2013 (the &#147;Amended Severance Plan&#148;) to include modifications such as the
addition of severance provisions covering non-executive employees in
circumstances other than a change of control as discussed below. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Amended Severance Plan applies to all employees who are not subject
to a performance improvement plan; however, the provisions of any employment
agreement supersede any benefits under the Amended Severance Plan. Each of the
executive officers, including the Named Executive Officers, has an employment
agreement. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Amended Severance Plan provides for each employee to receive a
severance payment upon certain triggering events. A non-change of control
triggering event is defined by the Amended Severance Plan as an event where an
employee who is not subject to an ongoing performance improvement plan is
terminated without cause. Severance payments in the case of a non-change of
control triggering event range from two to nine months of base salary, depending
on the non-executive employee&#146;s position with Geron, payable in a lump-sum
payment. The Amended Severance Plan does not provide for severance payments to
executive officers in the case of a non-change of control triggering event. Any
severance payment to be provided to an executive officer in connection with a
non-change in control triggering event is detailed in such executive officer&#146;s
employment agreement. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>A change of control triggering event is defined by the Amended Severance
Plan as a termination: (i) without cause in connection with a change in control
or within 12 months following a change in control (unless an individual accepts
employment with our successor or acquiror immediately following the
termination); (ii) by the employee, because the employee is not offered
comparable employment (new or continuing) by Geron or our successor or acquirer
within 30 days after the change in control or because the employee rejects any
employment that the employee is offered; or (iii) after accepting (or
continuing) employment with Geron after a change in control, by the employee
within six months following a change in control, due to a material change in the
terms of employment (including a material reduction in base salary or job title,
a substantial reduction in bonus opportunity or certain work location
relocations). Severance payments in the case of a change of control triggering
event range from three to 18 months of base salary, depending on the employee&#146;s
position with Geron, payable in a lump-sum payment. A change of control triggering
event severance payment would be 18 months of base salary for the Chief
</FONT></P>
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Contents</A></FONT></P>


<P align=justify><FONT face="Times New Roman" size=2>Executive Officer and 15 months of base
salary for each of the Named Executive Officers. The receipt of any severance
benefits pursuant to the Amended Severance Plan is reduced by any amounts paid
under an employment agreement and is subject to signing a general release of all
claims against Geron and its affiliates. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>In addition to a cash severance
payment, whether based on a change of control triggering event or a non-change
of control triggering event, we will also pay health insurance premiums under
the provisions of the Consolidated Omnibus Budget Reconciliation Act of 1985, as
amended (&#147;COBRA&#148;) for each employee through the earlier of the end of his or her
severance period, the time that the employee obtains other coverage or the
expiration of such employee&#146;s eligibility for such continued coverage under
COBRA. The provisions of the Amended Severance Plan are intended to allow
employees, including executive officers, to focus their attention on business
operations of Geron in the face of the potentially disruptive impact of a
proposed change in control transaction, to assess takeover bids objectively
without regard to the potential impact on their own job security and to allow
for a smooth transition in the event of a change in control of Geron.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>In the event of a merger,
acquisition or similar change in control, the 1996 Directors&#146; Stock Option Plan,
the 2002 Equity Incentive Plan and the 2006 Directors&#146; Plan provide through the
plan or the individual stock option or restricted stock award agreements or
both, that each outstanding option and award held by all employees or outside
directors will accelerate so that each option will be fully exercisable for all
of the shares subject to such option immediately prior to the effective date of
the transaction and each other type of award shall be fully vested unless, in
the case of all of such plans, the employee or outside director receives a
substitute for such option or award with comparable terms or, in the case of
both the 2002 Equity Incentive Plan and the 2006 Directors&#146; Plan, the option or
award is assumed by a successor corporation. In addition, upon the occurrence of
such transaction, the 2002 Equity Incentive Plan and the 2006 Directors&#146; Plan
provide that all of the outstanding repurchase rights of Geron with respect to
shares of common stock acquired upon exercise of options granted, as well as
shares of restricted stock, under the 2002 Equity Incentive Plan and the 2006
Directors&#146; Plan will terminate.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>In the event of a Change in Control
of Geron (defined below), the 2011 Incentive Award Plan provides that each
outstanding award shall continue in effect or be assumed or an equivalent award
substituted by the successor corporation or parent or subsidiary of the
successor corporation; in the event the successor corporation refuses to assume
or substitute for the awards, the administrator of the 2011 Incentive Award Plan
may cause any or all of such awards to become fully exercisable immediately
prior to the consummation of such transaction and all forfeiture restrictions on
any or all of such awards to lapse. For purposes of the 2011 Incentive Award
Plan, a &#147;change in control&#148; generally means and includes each of the following:
(a) as a result of any merger or consolidation, the voting securities of Geron
outstanding immediately prior thereto represent (either by remaining outstanding
or by being converted into voting securities of the surviving or acquiring
entity) less than 49% of the combined voting power of the voting securities of
Geron or such surviving or acquiring entity outstanding immediately after such
merger or consolidation; (b) during any period of twenty-four consecutive
calendar months, the individuals who at the beginning of such period constitute
the board of directors, and any new directors whose election by such board of
directors or nomination for election by stockholders was approved by a vote of
at least two-thirds of the members of such board of directors who were either
directors on such board of directors at the beginning of the period or whose
election or nomination for election as directors was previously so approved, for
any reason cease to constitute at least a majority of the members thereof; (c)
any individual, entity or group becomes the beneficial owner of more than 20% of
the then outstanding shares of Geron Common Stock; (d) any sale of all or
substantially all of the assets of Geron; or (e) the complete liquidation or
dissolution of Geron.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Under the terms of their employment
agreements, our Named Executive Officers are eligible for additional severance
benefits upon a Covered Termination of their employment, and for accelerated
vesting of options in connection with a change in control transaction, subject
and conditioned upon their execution of a release of claims against Geron. Each
of their employment agreements also provides that any severance benefits payable
under such employment agreements, other than annual discretionary bonuses and
extended exercisability of any stock options or equity awards, shall be reduced
by the amount of severance or other cash payable to an executive under the
Amended Severance Plan. For purposes of such change in control and severance
provisions described below, &#147;Covered Termination&#148; means an Involuntary
Termination Without Cause that occurs at any time, provided that such
termination constitutes a &#147;separation from service&#148; within the meaning of
Section 409A of the Internal Revenue Code of 1986, as amended, and &#147;Involuntary
Termination Without Cause&#148; generally means an executive </FONT></P>
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<P align=justify><FONT face="Times New Roman" size=2>officer&#146;s dismissal or discharge other
than (i) for cause or (ii) following an involuntary or voluntary filing of
bankruptcy, an assignment for the benefit of creditors, a liquidation of our
assets in a formal proceeding or otherwise or any other event of insolvency by
Geron, in any case, without an offer of comparable employment by Geron or a
successor, acquirer, or affiliate of Geron. For purposes of these employment
agreements, &#147;change in control&#148; has the same meaning as in the 2011 Incentive
Award Plan, and &#147;cause&#148; generally means (a) any willful act or omission
constituting material dishonesty, fraud or other malfeasance against Geron, (b)
a felony conviction, (c) debarment by the United States Food and Drug
Administration from working in or providing services to any pharmaceutical or
biotechnology company under the Generic Drug Enforcement Act of 1992, or other
ineligibility under any law or regulation to perform executive&#146;s duties to
Geron, or (d) executive&#146;s breach of any of the material policies of
Geron.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Under Dr. Scarlett&#146;s employment
agreement, in the event of his termination for any reason, he will receive a
single lump-sum payment for the aggregate amount of his earned but unpaid
salary, incurred but unreimbursed business expenses and accrued but unpaid
vacation pay. Additionally, in the event of a Covered Termination: (i) he will
be entitled to any unpaid annual incentive bonus to which he would have become
entitled for any fiscal year that ends on or before the termination date had he
remained employed through the payment date, payable in a single lump-sum
payment; (ii) he will be entitled to a lump-sum severance payment equal to 24
months of his base salary then in effect as of such termination; (iii) Dr.
Scarlett and his covered dependents will also be eligible to continued
healthcare coverage as permitted by COBRA for a period of one year following a
Covered Termination at the same cost as in effect immediately prior to such
termination; and (iv) the vested portion of any stock options or other
exercisable equity interest in Geron will remain outstanding until the earlier
of the second anniversary of the date of termination and the original expiration
date of such award. Dr. Scarlett will also be eligible to participate in Geron&#146;s
Amended Severance Plan in the event of a change in control. In addition, Dr.
Scarlett&#146;s employment agreement provides that his initial stock option grant for
1,000,000 shares will vest in full upon a change in control if he is providing
services through the date of such change in control.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Under Ms. Bloom&#146;s employment
agreement, in the event of her termination for any reason, she will receive a
single lump-sum payment for the aggregate amount of her earned but unpaid salary
and accrued but unpaid vacation pay. Additionally, in the event of a Covered
Termination: (i) she will be entitled to a lump-sum severance payment equal to
12 months of her base salary then in effect as of such termination and a
pro-rated portion of any unpaid annual incentive bonus; (ii) Ms. Bloom and her covered
dependents will also be eligible to continued healthcare coverage as permitted
by COBRA for a period of one year following a Covered Termination at the same
cost as in effect immediately prior to such termination; and (iii) the vested
portion of any stock options or other exercisable equity interest in Geron in
either case that are granted to her after December 2012 shall remain outstanding
until the earlier of the second anniversary of the date of termination and the
original expiration date of such award. Ms. Bloom will also be eligible to
participate in Geron&#146;s Amended Severance Plan in the event of a change in
control. In addition, Ms. Bloom&#146;s employment agreement provides that any options
granted to her will vest in full upon a change in control if she is providing
services through the date of such change in control.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Under Mr. Cooper&#146;s employment
agreement, in the event of his termination for any reason, he was entitled to
receive a single lump-sum payment for the aggregate amount of his earned but
unpaid salary and accrued but unpaid vacation pay. Additionally, in the event of
a Covered Termination: (i) Mr. Cooper was entitled to a lump-sum severance
payment equal to 12 months of his base salary then in effect as of such
termination and a pro-rated portion of any unpaid annual incentive bonus; (ii) Mr.
Cooper and his covered dependents were also eligible to continued healthcare
coverage as permitted by COBRA for a period of one year following a Covered
Termination at the same cost as in effect immediately prior to such termination;
and (iii) the vested portion of any stock options or other exercisable equity
interest in Geron were to remain outstanding until the earlier of the second
anniversary of the date of termination and the original expiration date of such
award. Mr. Cooper was also eligible to participate in Geron&#146;s Amended Severance
Plan in the event of a change in control. In addition, Mr. Cooper&#146;s employment
agreement provided that his initial stock option grant for 500,000 shares would
vest in full upon a change in control if he were providing services through the
date of such change in control.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>In conjunction with the December
2012 restructuring, Mr. Cooper separated employment from the Company on
December 7, 2012. Geron and Mr. Cooper entered the Cooper Separation Agreement,
effective as of December 13, 2012, that provided for, among other things, a
lump-sum cash severance payment of $375,000 and up to 12 months of continued
health care coverage under COBRA, which he was entitled to receive in connection
with </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>41</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2><A href="#toc">Table of
Contents</A></FONT></P>
<P align=justify><FONT face="Times New Roman" size=2>his termination of employment under his
2012 employment agreement. In addition, Mr. Cooper received a lump-sum payment
of $157,654, which was based on his 2012 target annual incentive bonus,
pro-rated for his service through his separation date, and the exercise period
of all vested stock options held by Mr. Cooper was extended to the earlier of
December 7, 2014 or the original expiration date of such stock options. As
consideration, Mr. Cooper provided us with a general release of claims against
Geron. The indemnification and confidentiality provisions of his 2012 employment
agreement with us remain in full force and effect. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Under Dr. Grethlein&#146;s employment
agreement, in the event of his termination for any reason, he will receive a
single lump-sum payment for the aggregate amount of his earned but unpaid salary
and accrued but unpaid vacation pay. Additionally, in the event of a Covered
Termination: (i) he will be entitled to a lump-sum severance payment equal to 12
months of his base salary then in effect as of such termination and a pro-rated
portion of any unpaid annual incentive bonus; (ii) Dr. Grethlein and his covered
dependents will also be eligible to continued healthcare coverage as permitted
by COBRA for a period of one year following a Covered Termination at the same
cost as in effect immediately prior to such termination; and (iii) the vested
portion of any stock options or other exercisable equity interest in Geron shall
remain outstanding until the earlier of the second anniversary of the date of
termination and the original expiration date of such award. Dr. Grethlein will
also be eligible to participate in Geron&#146;s Amended Severance Plan in the event
of a change in control. In addition, Dr. Grethlein&#146;s employment agreement
provides that his initial stock option grant for 600,000 shares will vest in
full upon a change in control if he is providing services through the date of
such change in control.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Dr. Kelsey&#146;s employment agreement
that was effective during 2012 did not provide for any change in control or
severance benefits. Under Dr. Kelsey&#146;s employment agreement that became
effective in 2013, in the event of his termination for any reason, he will
receive a single lump-sum payment for the aggregate amount of his earned but
unpaid salary and accrued but unpaid vacation pay. Additionally, in the event of
a Covered Termination: (i) he will be entitled to a lump-sum severance payment
equal to 12 months of his base salary then in effect as of such termination and
a pro-rated portion of any unpaid annual incentive bonus; (ii) Dr. Kelsey and
his covered dependents will also be eligible to continued healthcare coverage as
permitted by COBRA for a period of one year following a Covered Termination at
the same cost as in effect immediately prior to such termination; and (iii) the
vested portion of any stock options or other exercisable equity interest in
Geron in either case that are granted to him after December 2012 shall remain
outstanding until the earlier of the second anniversary of the date of
termination and the original expiration date of such award. Dr. Kelsey will also
be eligible to participate in Geron&#146;s Amended Severance Plan in the event of a
change in control. In addition, Dr. Kelsey&#146;s employment agreement provides that
any option granted to him will vest in full upon a change in control if he is
providing services through the date of such change in control.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Under Mr. Rosenfield&#146;s employment
agreement, in the event of his termination for any reason, he will receive a
single lump-sum payment for the aggregate amount of his earned but unpaid salary
and accrued but unpaid vacation pay. Additionally, in the event of a Covered
Termination: (i) he will be entitled to a lump-sum severance payment equal to 12
months of his base salary then in effect as of such termination and a pro-rated
portion of any unpaid annual incentive bonus; (ii) Mr. Rosenfield and his
covered dependents will also be eligible to continued healthcare coverage as
permitted by COBRA for a period of one year following a Covered Termination at
the same cost as in effect immediately prior to such termination; and (iii) the
vested portion of any stock options or other exercisable equity interest in
Geron shall remain outstanding until the earlier of the second anniversary of
the date of termination and the original expiration date of such award. Mr.
Rosenfield will also be eligible to participate in Geron&#146;s Amended Severance
Plan in the event of a change in control. In addition, Mr. Rosenfield&#146;s
employment agreement provides that his initial stock option grant for 425,000
shares will vest in full upon a change in control if he is providing services
through the date of such change in control.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Compensation Committee believes
that severance benefits such as these remain essential to fulfill the objective
to recruit, retain and develop key management talent in the competitive market.
These arrangements enable us to recruit and retain high-quality new management
talent because they provide reasonable protection to the executive officer in
the event that he or she is not retained under limited circumstances. We do not
provide for any excise tax gross-ups in the Amended Severance Plan or in any
individual agreement with a Named Executive Officer.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>42</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2><A href="#toc">Table of
Contents</A></FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>Tax and Accounting Implications for
Executive Compensation </FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Compensation Committee is
responsible for addressing the issues raised by Section 162(m) of the U.S.
Internal Revenue Code, which makes certain &#147;non-performance-based&#148; compensation
to certain executives of Geron in excess of $1,000,000 non-deductible to us. To
qualify as &#147;performance-based&#148; under Section 162(m), compensation payments must
be determined pursuant to a plan, by a committee of at least two &#147;outside&#148;
directors (as defined in the regulations promulgated under the Code) and must be
based on achieving objective performance goals. In addition, the material terms
of the plan must be disclosed to and approved by stockholders and the outside
directors or the Compensation Committee, as applicable, must certify that the
performance goals were achieved before payments can be awarded. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Compensation Committee will
continue to examine the effects of Section 162(m), to monitor the level of
compensation paid to executive officers and take appropriate action in response
to the provisions of Section 162(m), to the extent practicable while maintaining
competitive compensation practices. To maintain flexibility in compensating
executive officers in a manner designed to promote varying corporate goals, the
Compensation Committee reserves the right to recommend and award compensation
that is not deductible under Section 162(m).</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>In addition to considering the tax
consequences, the Compensation Committee considers the accounting consequences
of its decisions, including the impact of expenses being recognized in
connection with equity-based awards, in determining the size and form of
different equity-based awards. </FONT></P>
<P align=center><B><FONT face="Times New Roman" size=2><A NAME="compcommittee"></A>COMPENSATION COMMITTEE REPORT
</FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Our Compensation Committee has
reviewed and discussed the Compensation Discussion and Analysis required by Item
402(b) of Regulation S-K and contained within this Proxy Statement with
management and, based on such review and discussions, our Compensation Committee
recommended to our Board that the Compensation Discussion and Analysis be
included in this Proxy Statement and incorporated into our Annual Report on Form
10-K for the year ended December 31, 2012. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Submitted on March 28, 2013 by the
members of the Compensation Committee of the Board of Directors: </FONT></P>
<DIV align=center>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="20%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>Robert J.
      Spiegel, M.D., FACP</FONT></TD>
    <TD noWrap align=left width="98%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>Compensation
      Committee Chair</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>Thomas
      Hofstaetter, Ph.D.</FONT></TD>
    <TD noWrap align=left width="98%"></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>Compensation
      Committee Member</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>V. Bryan Lawlis,
      Ph.D.</FONT></TD>
    <TD noWrap align=left width="98%"></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>Compensation
      Committee Member</FONT></TD></TR></TABLE></DIV><BR>
<P align=justify><I><FONT face="Times New Roman" size=2>This Section is not &#147;soliciting
material,&#148; is not deemed &#147;filed&#148; with the SEC and is not to be incorporated by
reference in any filing of the Company under the Securities Exchange Act of
1934, as amended, or the Securities Act of 1933, as amended, whether made before
or after the date hereof and irrespective of any general incorporation language
in any such filing. </FONT></I></P>
<P align=center><FONT face="Times New Roman" size=2>43</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>

<P align=left><FONT face="Times New Roman" size=2><A href="#toc">Table of
Contents</A></FONT></P>

<P align=center><B><FONT face="Times New Roman" size=2><A NAME="executivecomp"></A>EXECUTIVE COMPENSATION
TABLES</FONT></B></P>
<P align=justify><B><FONT face="Times New Roman" size=2>2012 Summary Compensation
Table</FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The following table includes
information concerning compensation for the years ended December 31, 2012, 2011
and 2010 to the Principal Executive Officer, current and former Principal
Financial Officers and the three most highly compensated executive officers of
the Company (our &#147;Named Executive Officers&#148;). </FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=bottom noWrap align=left width="20%">
      <P align=justify><B><FONT face="Times New Roman" size=1>Name and Principal
      Position</FONT></B></P></TD>
    <TD vAlign=bottom noWrap align=left width="24%">&nbsp;</TD>
    <TD vAlign=bottom noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=bottom noWrap align=center width="1%">
      <P align=center><B><FONT face="Times New Roman" size=1>Year</FONT></B></P></TD>
    <TD vAlign=bottom noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=bottom noWrap align=center width="4%" colSpan=4>
      <P align=center><B><FONT face="Times New Roman" size=1>Salary<BR>($)</FONT></B></P></TD>
    <TD vAlign=bottom noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=bottom noWrap align=center width="5%" colSpan=5>
      <P align=center><B><FONT face="Times New Roman" size=1>Bonus<BR>($)</FONT></B></P></TD>
    <TD vAlign=bottom noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=bottom noWrap align=center width="4%" colSpan=4>
      <P align=center><B><FONT face="Times New Roman" size=1>Stock<BR>Awards<BR>($)<SUP>(1)</SUP></FONT></B></P></TD>
    <TD vAlign=bottom noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=bottom noWrap align=center width="5%" colSpan=4>
      <P align=center><B><FONT face="Times New Roman" size=1>Option<BR>Awards<BR>($)<SUP>(1)</SUP></FONT></B></P></TD>
    <TD vAlign=bottom noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=bottom noWrap align=center width="11%" colSpan=4>
      <P align=center><B><FONT face="Times New Roman" size=1>Non-<BR>Equity<BR>Incentive<BR>Plan<BR>Compensation<SUP>(2)</SUP></FONT></B></P></TD>
    <TD vAlign=bottom noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=bottom noWrap align=center width="12%" colSpan=4>
      <P align=center><B><FONT face="Times New Roman" size=1>All<BR>Other<BR>Compensation<BR>($)<SUP>(3)</SUP></FONT></B></P></TD>
    <TD vAlign=bottom noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=bottom noWrap align=center width="6%" colSpan=4>
      <P align=center><B><FONT face="Times New Roman" size=1>Total<BR>($)</FONT></B></P></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="44%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=1>John A. Scarlett,
    M.D.<SUP>(4)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>2012</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>550,000</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>39,600</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1><SUP>(5)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>410,111</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>290,400</FONT></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>54,842</FONT></TD>
    <TD align=right width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>1,344,953</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="44%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;President and Chief
      Executive Officer</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>2011</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>141,731</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>1,165,900</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>&#151;</FONT></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>12,091</FONT></TD>
    <TD align=right width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>1,319,722</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff>&nbsp;</TD></TR>
  <TR>
    <TD width="99%" colSpan=39>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="44%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=1>Olivia K. Bloom<SUP>(6)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>2012</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>259,038</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>174,602</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>114,654</FONT></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>30,524</FONT></TD>
    <TD align=right width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>578,818</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="44%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Vice President,
      Finance,</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="44%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chief Financial
      Officer</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="44%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;and Treasurer</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD></TR>
  <TR>
    <TD width="99%" colSpan=39>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="44%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=1>Graham K. Cooper<SUP>(7)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>2012</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>362,105</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>650,870</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>&#151;</FONT></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>550,120</FONT></TD>
    <TD align=right width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>1,563,095</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="44%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Former Executive Vice
      President,</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="44%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Finance and Chief
      Financial Officer</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD></TR>
  <TR>
    <TD width="99%" colSpan=39>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="44%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=1>Andrew J. Grethlein,
      Ph.D.<SUP>(8)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>2012</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>103,542</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>649,140</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>44,577</FONT></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>4,347</FONT></TD>
    <TD align=right width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>801,606</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="44%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Executive Vice
      President,</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="44%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Technical Operations
      and</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="44%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acting Head of
      Research</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD></TR>
  <TR>
    <TD width="99%" colSpan=39></TD>
    <TD width="1%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="44%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=1>Stephen M. Kelsey, M.D., F.R.C.P,</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="44%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;F.R.C.Path.</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>2012</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>415,000</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>365,445</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>181,148</FONT></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>41,966</FONT></TD>
    <TD align=right width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>1,003,559</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="44%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Executive Vice President,
      R&amp;D and</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>2011</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>400,000</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>174,375</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>188,168</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>156,600</FONT></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>43,155</FONT></TD>
    <TD align=right width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>962,298</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="44%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chief Medical
      Officer</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>2010</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>400,000</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>555,975</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>215,558</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>159,100</FONT></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>36,697</FONT></TD>
    <TD align=right width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>1,367,330</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff>&nbsp;</TD></TR>
  <TR>
    <TD width="99%" colSpan=39></TD>
    <TD width="1%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="44%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=1>Stephen N. Rosenfield,
      J.D.<SUP>(9)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>2012</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>255,500</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>685,510</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>133,371</FONT></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>112,900</FONT></TD>
    <TD align=right width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>1,187,281</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="44%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Executive Vice President,
      General</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="44%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Counsel and Corporate
      Secretary</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD></TR></TABLE>____________________<BR>&nbsp;<BR>
<TABLE style="TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(1)</FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Amounts represent the aggregate
      grant date fair value of stock awards and option awards granted during the
      applicable fiscal year as calculated in accordance with FASB ASC Topic 718.
For additional information, refer to Note 10 of
      the consolidated financial statements in our Annual Report on Form 10-K
      for the year ended December 31, 2012 regarding assumptions underlying the
      valuation of equity awards and the calculation method. Refer to the
      supplemental table on page 48 for information as to each Named Executive
      Officers&#146; unvested stock award holdings and vested and unvested stock
      option holdings, and page 46 for the number of option awards granted
      during 2012.</FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="100%"></TD></TR>
  <TR>
    <TD></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>For 2011 and 2010, amounts shown
      under the &#147;Stock Awards&#148; column for Dr. Kelsey exclude the grant date fair value for
      performance-based restricted stock awards of 80,000 and 180,000 shares,
      respectively, for Dr. Kelsey granted in 2011 and 2010 that vest upon the
      attainment of certain performance conditions based upon the probable
      outcome of the performance conditions, which is consistent with the
      estimate of aggregate compensation cost to be recognized over the service
      period determined as of the grant date under FASB ASC Topic 718. The grant
      date fair values of the restricted stock awards with performance-related
      conditions determined in accordance with FASB ASC Topic 718 based upon
      achieving maximum level of performance under the respective performance
      conditions for 2011 and 2010 are $372,000 and $1,254,000, respectively,
      for Dr. Kelsey.</FONT></TD></TR>
  <TR>
    <TD colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(2)</FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Amounts disclosed under
      &#147;Non-Equity Incentive Plan Compensation&#148; represent corporate and
      individual performance components of the annual incentive bonus pursuant
      to our annual incentive bonus plan. For further discussion see the section
      entitled &#147;Compensation Discussion and Analysis &#150; 2012 Annual
      Incentive</FONT></TD></TR></TABLE>
<P align=center><FONT face="Times New Roman" size=2>44</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>

<P align=left><FONT face="Times New Roman" size=2><A href="#toc">Table of
Contents</A></FONT></P>

<TABLE style="TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap></TD>
    <TD width="100%">
      <P align=justify><FONT face="Times New Roman" size=2>Bonuses&#148; on page 30. In
      connection with the December 2012 restructuring, Mr. Cooper separated
      employment from the Company. Under the Cooper Separation Agreement, Mr.
      Cooper was paid severance benefits that included a lump-sum payment equal
      to his 2012 target annual incentive bonus, pro-rated for his service to us
      in 2012 through his separation date which has been included under the &#147;All
      Other Compensation&#148; column. See the section entitled &#147;Severance and Change
      in Control Benefits&#148; for a further description of the severance benefits
      paid to Mr. Cooper. </FONT></P></TD></TR>
  <TR>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="100%"></TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(3)</FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Amounts shown include: (i)
      housing and travel allowance; (ii) the portion of life and health
      insurance premiums paid by the Company; (iii) the matching contributions
      made to the Geron 401(k) Plan on behalf of the Named Executive Officers;
      (iv) contributions toward tax return preparation services; (v) severance
      benefits to Mr. Cooper under his separation agreement with the Company;
      and (vi) consulting fees paid to Mr. Rosenfield under his consulting
      agreement prior to his employment with the Company as
  follows:</FONT></TD></TR></TABLE><BR>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"><B><FONT face="Times New Roman" size=1>Name</FONT></B></TD>
    <TD noWrap align=left width="51%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="1%"><B><FONT face="Times New Roman" size=1>Year</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="6%" colSpan=4><B><FONT face="Times New Roman" size=1>Housing<BR>and<BR>Travel<BR>Allowance<BR>($)</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="6%" colSpan=4><B><FONT face="Times New Roman" size=1>Insurance<BR>Premiums<BR>($)</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="6%" colSpan=4><B><FONT face="Times New Roman" size=1>401(k)<BR>Match<BR>($)</FONT></B><B><FONT face="Times New Roman" size=1><SUP>(a)</SUP></FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="9%" colSpan=4><B><FONT face="Times New Roman" size=1>Tax
      Return<BR>Preparation<BR>($)</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="6%" colSpan=4><B><FONT face="Times New Roman" size=1>Severance/<BR>Consulting<BR>Fees<BR>($)</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="6%" colSpan=4><B><FONT face="Times New Roman" size=1>Total<BR>($)</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="52%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>John A. Scarlett, M.D.</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>2012</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>40,632</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>14,210</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>54,842</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="52%" bgColor=#cceeff colSpan=2></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>2011</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>8,409</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>3,682</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>12,091</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR>
    <TD align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD align=left width="98%" colSpan=33>&nbsp;</TD>
    <TD align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="52%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Olivia K. Bloom</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>2012</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>13,524</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>17,000</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>30,524</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR>
    <TD align=left width="1%"></TD>
    <TD align=left width="98%" colSpan=33>&nbsp;</TD>
    <TD align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="52%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Graham K. Cooper</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>2012</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>17,466</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$<FONT face="Times New Roman"></FONT></FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>532,654</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>550,120</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR>
    <TD align=left width="1%"></TD>
    <TD align=left width="98%" colSpan=33>&nbsp;</TD>
    <TD align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="52%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Andrew J. Grethlein, Ph.D.</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>2012</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>4,347</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>4,347</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR>
    <TD align=left width="1%"></TD>
    <TD align=left width="98%" colSpan=33>&nbsp;</TD>
    <TD align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="52%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Stephen M. Kelsey, M.D.</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>2012</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>19,466</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>22,500</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>41,966</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="52%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;F.R.C.P,
      F.R.C.Path.</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>2011</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>20,275</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>22,000</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>880</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>43,155</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="52%" bgColor=#cceeff colSpan=2></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>2010</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>19,045</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>16,500</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>1,152</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>36,697</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR>
    <TD align=left width="1%"></TD>
    <TD align=left width="98%" colSpan=33>&nbsp;</TD>
    <TD align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="52%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Stephen N. Rosenfield, J.D.</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>2012</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>22,500</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>90,400</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>112,900</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR></TABLE>
<TABLE style="TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%" colSpan=3>____________________</TD></TR>
  <TR>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD vAlign=top width="100%" colSpan=3></TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(a)</FONT></TD>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD align=left width="100%">
      <P align=justify><FONT face="Times New Roman" size=2>Under Geron&#146;s 401(k) Plan, all
      participating employees may contribute up to the annual Internal Revenue
      Service contribution limit. In December 2012, 2011 and 2010, the Board
      approved a matching contribution equal to 100% of each employee&#146;s annual
      contributions during 2012, 2011 and 2010, respectively. The matching
      contribution is invested in Geron Common Stock and vests ratably over four
      years for each year of service completed by the employee, commencing from
      the date of hire, until it is fully vested when the employee has completed
      four years of service. The 2012 match was made on January 2, 2013 at $1.49
      per share. The 2011 match was made on January 3, 2012 at $1.56 per share.
      The 2010 match was made on January 3, 2011 at $5.26 per
    share.</FONT></P></TD></TR></TABLE><BR>
<TABLE style="TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(4)</FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Dr. Scarlett joined the Company
      in September 2011.</FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="100%"></TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(5)</FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Amount represents the
      discretionary portion of the incentive bonus awarded to Dr. Scarlett in
      2012. For further discussion see the section entitled &#147;Compensation
      Discussion and Analysis &#150; 2012 Annual Incentive Bonuses&#148; on page
    30.</FONT></TD></TR>
  <TR>
    <TD colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(6)</FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Ms. Bloom was appointed Senior
      Vice President, Finance, and Chief Financial Officer in December 2012. Ms.
      Bloom was not a Named Executive Officer prior to 2012.</FONT></TD></TR>
  <TR>
    <TD colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(7)</FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Mr. Cooper joined the Company in
      January 2012. In connection with the restructuring in December 2012, Mr. Cooper
      separated employment from the Company. For additional description of Mr.
      Cooper&#146;s severance benefits, refer to the section entitled &#147;Compensation
      Discussion and Analysis &#150; Severance and Change in Control Benefits&#148; on
      page 39.</FONT></TD></TR>
  <TR>
    <TD colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(8)</FONT></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Dr. Grethlein joined the Company
      in September 2012.</FONT></TD></TR></TABLE>
<P align=center><FONT face="Times New Roman" size=2>45</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV>

<P align=left><FONT face="Times New Roman" size=2><A href="#toc">Table of
Contents</A></FONT></P>
<TABLE style="TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 border=0>


  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(9)<BR></FONT>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</TD>
    <TD WIDTH="100%" STYLE="text-align: justify; vertical-align: top"><FONT face="Times New Roman" size=2>Mr. Rosenfield joined the Company
      in February 2012. Mr. Rosenfield served as a consultant to the Company
      from October 2011 to January 2012. The consulting fees paid to him in 2012
      are included in the &#147;All Other Compensation&#148;
column.</FONT></TD></TR></TABLE>
<P align=justify><B><FONT face="Times New Roman" size=2>Grants of Plan-Based Awards for 2012
</FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The following table sets forth
information regarding grants of plan-based awards with respect to each of the
Named Executive Officers for the fiscal year ended December 31, 2012.</FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="11%"><B><FONT face="Times New Roman" size=1>Named Executive
      Officer</FONT></B></TD>
    <TD noWrap align=left width="53%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="3%" colSpan=2><B><FONT face="Times New Roman" size=1>Grant</FONT></B><BR><B><FONT face="Times New Roman" size=1>Date</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="2%"><B><FONT face="Times New Roman" size=1>Approval</FONT></B><BR><B><FONT face="Times New Roman" size=1>Date</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="8%" colSpan=5><B><FONT face="Times New Roman" size=1>Estimated</FONT></B><BR><B><FONT face="Times New Roman" size=1>Possible</FONT></B><BR><B><FONT face="Times New Roman" size=1>Payouts Under</FONT></B><BR><B><FONT face="Times New Roman" size=1>Non-Equity</FONT></B><BR><B><FONT face="Times New Roman" size=1>Incentive Plan</FONT></B><BR><B><FONT face="Times New Roman" size=1>Awards</FONT></B><BR><B><FONT face="Times New Roman" size=1>Target</FONT></B><B><FONT face="Times New Roman" size=1><SUP>(1)</SUP></FONT></B><BR><B><FONT face="Times New Roman" size=1>($)</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="5%" colSpan=3><B><FONT face="Times New Roman" size=1>All</FONT></B><BR><B><FONT face="Times New Roman" size=1>Other</FONT></B><BR><B><FONT face="Times New Roman" size=1>Option</FONT></B><BR><B><FONT face="Times New Roman" size=1>Awards:</FONT></B><BR><B><FONT face="Times New Roman" size=1>Number
      of</FONT></B><BR><B><FONT face="Times New Roman" size=1>Securities</FONT></B><BR><B><FONT face="Times New Roman" size=1>Underlying</FONT></B><BR><B><FONT face="Times New Roman" size=1>Options</FONT></B><BR><B><FONT face="Times New Roman" size=1>(#)</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="5%" colSpan=4><B><FONT face="Times New Roman" size=1>Exercise</FONT></B><BR><B><FONT face="Times New Roman" size=1>or
      Base</FONT></B><BR><B><FONT face="Times New Roman" size=1>Price</FONT></B><BR><B><FONT face="Times New Roman" size=1>of
      Stock</FONT></B><BR><STRONG><FONT face="Times New Roman" size=1>Options</FONT></STRONG><BR><B><FONT face="Times New Roman" size=1>Awards</FONT></B><BR><B><FONT face="Times New Roman" size=1>($/Sh)</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="7%" colSpan=4><B><FONT face="Times New Roman" size=1>Grant
      Date</FONT></B><BR><B><FONT face="Times New Roman" size=1>Fair Value
      of</FONT></B><BR><B><FONT face="Times New Roman" size=1>Stock
      and</FONT></B><BR><B><FONT face="Times New Roman" size=1>Option</FONT></B><BR><B><FONT face="Times New Roman" size=1>Awards</FONT></B><BR><B><FONT face="Times New Roman" size=1></FONT></B><B><FONT face="Times New Roman" size=1>($)<SUP>(2)</SUP></FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="64%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>John A. Scarlett, M.D.</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>5/17/12</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2><SUP>(3)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>5/17/12</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>505,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>1.41</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>410,111</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff>&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="64%" bgColor=#cceeff colSpan=2></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>330,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR>
    <TD align=left width="99%" colSpan=26>&nbsp;</TD>
    <TD align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="64%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Olivia K. Bloom</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>5/17/12</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2><SUP>(3)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>5/16/12</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>215,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>1.41</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>174,602</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="64%" bgColor=#cceeff colSpan=2></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>118,200</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR>
    <TD align=left width="99%" colSpan=26>&nbsp;</TD>
    <TD align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="64%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Graham K. Cooper</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>1/18/12</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2><SUP>(4)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>1/5/12</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>500,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>1.70</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>488,450</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="64%" bgColor=#cceeff colSpan=2></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>5/17/12</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2><SUP>(5)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>5/16/12</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>200,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>1.41</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>162,420</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="64%" bgColor=#cceeff colSpan=2></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>168,750</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2><SUP>(9)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR>
    <TD align=left width="99%" colSpan=26>&nbsp;</TD>
    <TD align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="64%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Andrew J. Grethlein, Ph.D.</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>9/19/12</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2><SUP>(6)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>9/19/12</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>600,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>1.70</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>649,140</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="64%" bgColor=#cceeff colSpan=2></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>45,955</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR>
    <TD align=left width="99%" colSpan=26>&nbsp;</TD>
    <TD align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="64%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Stephen M. Kelsey, M.D.</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>5/17/12</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2><SUP>(3)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>5/16/12</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>450,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>1.41</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>365,445</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="64%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;F.R.C.P,
      F.R.C.Path.</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>186,750</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR>
    <TD align=left width="99%" colSpan=26>&nbsp;</TD>
    <TD align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="64%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Stephen N. Rosenfield, J.D.</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>2/16/12</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2><SUP>(7)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>2/16/12</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>425,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>2.14</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>523,090</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="64%" bgColor=#cceeff colSpan=2></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>5/17/12</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2><SUP>(8)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>5/16/12</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>200,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>1.41</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>162,420</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="64%" bgColor=#cceeff colSpan=2></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>131,400</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR></TABLE>____________________<BR><BR>
<TABLE style="TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(1)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%"><FONT face="Times New Roman" size=2>This column sets forth
      the target amount of each Named Executive Officer&#146;s annual incentive bonus
      award for the fiscal year ended December 31, 2012 under our annual
      incentive bonus plan, if the Named Executive Officer had remained an
      employee at the end of the year. Accordingly, the amounts set forth in
      this column do not represent additional compensation earned by the Named
      Executive Officers for the fiscal year ended December 31, 2012. For
      further discussion see the section entitled &#147;Compensation Discussion and
      Analysis &#150; 2012 Annual Incentive Bonuses&#148; on page 30.</FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD vAlign=top width="100%"></TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(2)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%"><FONT face="Times New Roman" size=2>Amounts represent the
      grant date fair value of each stock option granted in 2012, calculated in
      accordance with FASB ASC Topic 718. For additional information, refer to
      Note 10 of the consolidated financial statements in our Annual Report on
      Form 10-K for the year ended December 31, 2012 regarding assumptions
      underlying the valuation of option awards and the calculation
      method.</FONT></TD></TR>
  <TR>
    <TD vAlign=top colSpan=3>&nbsp; </TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(3)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%"><FONT face="Times New Roman" size=2>Stock option vests in
      a series of 48 equal consecutive monthly installments commencing May 17,
      2012, provided the executive officer continues to provide services to the
      Company.</FONT></TD></TR>
  <TR>
    <TD vAlign=top colSpan=3>&nbsp; </TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(4)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%"><FONT face="Times New Roman" size=2>Stock option vests as
      follows: (i) 62,500 shares on July 1, 2012 and (ii) the remaining 437,500
      shares in a series of 42 equal consecutive monthly installments commencing
      July 1, 2012, provided the executive officer continues to provide services
      to the Company.</FONT></TD></TR></TABLE>
<P align=center><FONT face="Times New Roman" size=2>46</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>

<P align=left><FONT face="Times New Roman" size=2><A href="#toc">Table of
Contents</A></FONT></P>

<TABLE style="TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT size=2 face="Times New Roman">(5)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%">
      <P align=justify><FONT face="Times New Roman" size=2>Stock option vests as follows:
      (i) 8,333 shares on July 17, 2012 and (ii) the remaining 191,667 shares in
      a series of 46 equal consecutive monthly installments commencing July 17,
      2012, provided the executive officer continues to provide services to the
      Company.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD vAlign=top width="100%"></TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT size=2 face="Times New Roman">(6)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%">
      <P align=justify><FONT face="Times New Roman" size=2>Stock option vests as follows:
      (i) 75,000 shares on March 17, 2013 and (ii) the remaining 525,000 shares
      in a series of 42 equal consecutive monthly installments commencing March
      17, 2013, provided the executive officer continues to provide services to
      the Company.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT size=2 face="Times New Roman">(7)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%">
      <P align=justify><FONT face="Times New Roman" size=2>Stock option vests as follows:
      (i) 53,125 shares on August 16, 2012 and (ii) the remaining 371,875 shares
      in a series of 42 equal consecutive monthly installments commencing August
      16, 2012, provided the executive officer continues to provide services to
      the Company.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT size=2 face="Times New Roman">(8)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%">
      <P align=justify><FONT face="Times New Roman" size=2>Stock option vests as follows:
      (i) 12,500 shares on August 17, 2012 and (ii) the remaining 187,500 shares
      in a series of 45 equal consecutive monthly installments commencing August
      17, 2012, provided the executive officer continues to provide services to
      the Company.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(9)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%"><FONT face="Times New Roman" size=2>Amount represents the
      target annual incentive bonus that Mr. Cooper was eligible to earn for the
      fiscal year ended December 31, 2012. In connection with the December 2012
      restructuring, Mr. Cooper separated employment from the Company. Under the
      Cooper Separation Agreement, Mr. Cooper was paid severance benefits that
      included a lump-sum payment equal to his 2012 target annual incentive
      bonus, pro-rated for his service to us in 2012 through his separation
      date. See the section entitled &#147;Severance and Change in Control Benefits&#148;
      for a further description of the severance benefits paid to Mr.
      Cooper.</FONT></TD></TR></TABLE>
<P align=justify><B><FONT face="Times New Roman" size=2>Narrative Disclosure to Summary
Compensation Table and Grants of Plan-Based Awards Table </FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><EM>Employment
Agreements.</EM></FONT><FONT face="Times New Roman" size=2> Each of our Named Executive
Officers has entered into a written employment agreement with Geron.
Descriptions of our employment agreements with our Named Executive Officers are
included under the section entitled &#147;Compensation Discussion and Analysis &#150;
Employment Agreements&#148; on page 38. Our Named Executive Officers are entitled to
certain severance benefits payable in connection with a Covered Termination and
upon a change of control of Geron described under the section entitled
&#147;Compensation Discussion and Analysis &#150; Severance and Change in Control
Benefits&#148; on page 39. For additional description of Mr. Cooper&#146;s severance
benefits received in connection with his termination, also refer to the section
entitled &#147;Compensation Discussion and Analysis &#150; Severance and Change in Control
Benefits&#148; on page 39.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><EM>Severance Plan.</EM></FONT><FONT face="Times New Roman" size=2> Our Amended Severance Plan provides for all of our employees,
including each of our Named Executive Officers, to receive a severance payment
upon certain trigger events. Descriptions of our Amended Severance Plan is
included under the section entitled &#147;Compensation Discussion and Analysis &#150;
Severance and Change in Control Benefits&#148; on page 39. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><EM>Annual Incentive
Bonuses.</EM></FONT><FONT face="Times New Roman" size=2> We provide for annual incentive
bonuses to reward executive officers for performance in the prior fiscal year.
For more information regarding our annual incentive bonus plan, see the section
entitled &#147;Compensation Discussion and Analysis &#150; 2012 Annual Incentive Bonuses&#148;
on page 30. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><EM>Equity Awards.</EM></FONT><FONT face="Times New Roman" size=2> All stock options awarded to our Named Executive Officers
during 2012 were granted under our 2011 Incentive Award Plan, or the 2011 Plan.
Descriptions of the terms of the stock option awards granted to our Named
Executive Officers are included under the section entitled &#147;Compensation
Discussion and Analysis &#150; Components &#150; Equity Awards&#148; on page 27. Events that
can accelerate the vesting of our stock options are described above under the
section entitled &#147;Compensation Discussion and Analysis &#150; Severance and Change in
Control Benefits&#148; on page 39. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Our 2011 Plan was approved by our
Board and our stockholders in 2011 and replaced our Amended and Restated 2002
Equity Incentive Plan. The 2011 Plan provides for the grant of stock options,
restricted stock, restricted stock units, performance awards and other stock and
cash awards. The exercise price of a stock option may not be less than 100% of
the closing price of Geron common stock as reported by the NASDAQ Global Select
Market on the date of grant. Stock options generally have a term of ten years,
but may terminate sooner in connection with the holder&#146;s termination of service
with us. Stock options vest based on conditions determined by the Compensation
Committee or the Board, which typically include continued service, but may also
include performance goals and/or other conditions. All equity awards under the
2011 Plan are subject to acceleration under certain change in control
circumstances described under the section entitled &#147;Compensation Discussion and
Analysis &#150; Severance and Change in Control Benefits&#148; on page 39.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>47</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>

<P align=left><FONT face="Times New Roman" size=2><A href="#toc">Table of
Contents</A></FONT></P>

<P align=justify><B><FONT face="Times New Roman" size=2>Outstanding Equity Awards Value at
Fiscal Year-End </FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The following table includes
information with respect to the value of all outstanding equity awards
previously awarded to the Named Executive Officers as of December 31,
2012.</FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD noWrap align=left width="47%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="24%" colSpan=18><STRONG><FONT face="Times New Roman" size=1>Option
      Awards</FONT></STRONG></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="27%" colSpan=20><STRONG><FONT face="Times New Roman" size=1>Stock
      Awards</FONT></STRONG></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="47%"><STRONG><FONT size=1>Named
      Executive Officer</FONT></STRONG></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="3%" colSpan=2><B><FONT face="Times New Roman" size=1>Grant<BR>Date</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="4%" colSpan=3><B><FONT face="Times New Roman" size=1>Number<BR>of<BR>Securities<BR>Underlying<BR>Unexercised<BR>Options<BR>Exercisable<BR>(#)</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="4%" colSpan=3><B><FONT face="Times New Roman" size=1>Number<BR>of<BR>Securities<BR>Underlying<BR>Unexercised<BR>Options<BR>Unexercisable<BR>(#)</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="5%" colSpan=4><B><FONT face="Times New Roman" size=1>Option<BR>Exercise<BR>Price<BR>($)</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="4%" colSpan=2><B><FONT face="Times New Roman" size=1>Option<BR>Expiration<BR>Date</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="4%" colSpan=2><B><FONT face="Times New Roman" size=1>Grant<BR>Date</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="4%" colSpan=3><B><FONT face="Times New Roman" size=1>Number of<BR>Shares
      or<BR>Units of<BR>Stock<BR>That Have<BR>Not Vested<BR>(#)</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="2%">&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="4%" colSpan=4><B><FONT face="Times New Roman" size=1></FONT></B><B><FONT face="Times New Roman" size=1>Market<BR>Value<BR>of<BR>Shares<BR>or<BR>Units<BR>of<BR>Stock<BR>That<BR>Have<BR>Not<BR>Vested<BR>($)<SUP>(1)</SUP></FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="4%" colSpan=3><B><FONT face="Times New Roman" size=1>Equity<BR>Incentive<BR>Plan<BR>Awards:<BR>Number<BR>of<BR>Shares,<BR>Units
      or<BR>Other<BR>Rights<BR>That<BR>Have<BR>Not<BR>Vested<BR>(#)</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="6%" colSpan=4><B><FONT face="Times New Roman" size=1></FONT></B><B><FONT face="Times New Roman" size=1>Equity<BR>Incentive<BR>Plan<BR>Awards:<BR>Market
      or<BR>Payout<BR>Value of<BR>Unearned<BR>Shares,<BR>Units
      or<BR>Other<BR>Rights<BR>That<BR>Have<BR>Not<BR>Vested<BR>($)<SUP>(1)</SUP></FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="47%" bgColor=#cceeff><FONT face="Times New Roman" size=1>John A.
      Scarlett, M.D.</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>9/29/11</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1><SUP>(2)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>312,500</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>687,500</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff>&nbsp;&nbsp; </TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>2.16</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff>&nbsp;&nbsp; </TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>9/29/21</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="47%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/17/12</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1><SUP>(3)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>73,646</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>431,354</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>1.41</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/17/22</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD></TR>
  <TR>
    <TD align=left width="100%" colSpan=41>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="47%" bgColor=#cceeff><FONT face="Times New Roman" size=1>Olivia
      K. Bloom</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/30/03</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>15,000</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5.08</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/30/13</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/29/09</FONT></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1><SUP>(4)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>2,500</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>3,525</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="47%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/27/04</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>20,000</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>7.56</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/27/14</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/19/10</FONT></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1><SUP>(4)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>7,050</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="47%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/6/05</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>30,000</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>6.40</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/6/15</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/20/11</FONT></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1><SUP>(4)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>18,750</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>26,438</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="47%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/24/06</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>33,750</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>6.63</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/24/16</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/20/11</FONT></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1><SUP>(5)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>8,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>11,280</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="47%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/23/07</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>20,000</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>9.32</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/23/17</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/20/11</FONT></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1><SUP>(6)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>10,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>14,100</FONT></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="47%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/28/08</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>20,000</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>3.97</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/28/18</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/20/11</FONT></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1><SUP>(7)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>10,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>14,100</FONT></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="47%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/28/08</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>10,829</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>3.97</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/28/18</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/20/11</FONT></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1><SUP>(8)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>10,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>14,100</FONT></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="47%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/29/09</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1><SUP>(3)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>17,917</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>2,083</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>6.52</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/29/19</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/20/11</FONT></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1><SUP>(9)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>20,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>28,200</FONT></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="47%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/29/09</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>7,500</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>6.52</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/29/19</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/20/11</FONT></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1><SUP>(10)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT size=1>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="47%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/29/09</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>20,000</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>6.52</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/29/19</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/20/11</FONT></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1><SUP>(11)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>7,050</FONT></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="47%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/19/10</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1><SUP>(3)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>12,917</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>7,083</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5.29</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/19/20</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="47%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/20/11</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1><SUP>(3)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>19,792</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>30,208</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>4.65</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/20/21</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="47%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/17/12</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1><SUP>(3)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>31,354</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>183,646</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>1.41</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/17/22</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD></TR>
  <TR>
    <TD align=left width="100%" colSpan=41>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="47%" bgColor=#cceeff><FONT face="Times New Roman" size=1>Graham
      K. Cooper</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>1/18/12</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1><SUP>(12)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>114,583</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>1.70</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>12/7/14</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1><SUP>(14)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="47%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/17/12</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1><SUP>(13)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>25,000</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>1.41</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>12/7/14</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1><SUP>(14)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD></TR>
  <TR>
    <TD align=left width="100%" colSpan=41>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="47%" bgColor=#cceeff><FONT face="Times New Roman" size=1>Andrew
      J. Grethlein, Ph.D.</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>9/19/12</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1><SUP>(15)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>600,000</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>1.70</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>9/19/22</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD></TR>
  <TR>
    <TD align=left width="100%" colSpan=41>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="47%" bgColor=#cceeff><FONT face="Times New Roman" size=1>Stephen
      M. Kelsey, M.D.,</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/20/09</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1><SUP>(16)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>183,333</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>16,667</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>6.76</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/20/19</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/19/10</FONT></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1><SUP>(4)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>18,750</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>26,438</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="47%" bgColor=#cceeff><FONT face="Times New Roman" size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;F.R.C.P,
      F.R.C.Path.</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/19/10</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1><SUP>(3)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>48,438</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>26,562</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5.29</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/19/20</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>7/9/10</FONT></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1><SUP>(6)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>140,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>197,400</FONT></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="47%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/20/11</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1><SUP>(3)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>29,688</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>45,312</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>4.65</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/20/21</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>7/9/10</FONT></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1><SUP>(7)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>20,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>28,200</FONT></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="47%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/17/12</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1><SUP>(3)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>65,625</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>384,375</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>1.41</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/17/22</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>7/9/10</FONT></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1><SUP>(8)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>20,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>28,200</FONT></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="47%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>7/9/10</FONT></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1><SUP>(9)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>120,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>169,200</FONT></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="47%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/20/11</FONT></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1><SUP>(4)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>28,125</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>39,656</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="47%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/20/11</FONT></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1><SUP>(10)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT size=1>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="47%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/20/11</FONT></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1><SUP>(11)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>40,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>56,400</FONT></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD></TR>
  <TR>
    <TD align=left width="100%" colSpan=41>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="47%" bgColor=#cceeff><FONT face="Times New Roman" size=1>Stephen
      N. Rosenfield, J.D.</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>11/1/11</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1><SUP>(17)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>36,000</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>2.22</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>11/1/21</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="47%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>2/16/12</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1><SUP>(18)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>88,542</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>336,458</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>2.14</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>2/16/22</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="47%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/17/12</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1><SUP>(19)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>29,167</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=1>170,833</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>$</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=1>1.41</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=1>5/17/22</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="2%" bgColor=#cceeff></TD></TR></TABLE>____________________<BR>&nbsp;<BR>
<TABLE style="TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap align=right width="1%"><FONT face="Times New Roman" size=2>(1)</FONT></TD>
    <TD vAlign=top noWrap width="1%"></TD>
    <TD vAlign=top width="98%"><FONT face="Times New Roman" size=2>Amounts represent an
      estimate of the market value of unvested restricted stock awards as of
      December 31, 2012, assuming a market value of $1.41 per
share.</FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap align=right width="2%" colSpan=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD vAlign=top width="98%"></TD></TR>
  <TR>
    <TD vAlign=top noWrap align=right width="1%"><FONT face="Times New Roman" size=2>(2)</FONT></TD>
    <TD vAlign=top noWrap width="1%"></TD>
    <TD vAlign=top width="98%"><FONT face="Times New Roman" size=2>Stock option vests as
      follows: 125,000 shares on March 29, 2012, and the remaining 875,000
      shares in a series of 42 equal consecutive monthly installments commencing
      on March 29, 2012, provided the executive officer continues to provide
      services to the Company.</FONT></TD></TR></TABLE>
<P align=center><FONT face="Times New Roman" size=2>48</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>

<P align=left><FONT face="Times New Roman" size=2><A href="#toc">Table of
Contents</A></FONT></P>

<TABLE style="TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top align=right width="1%"><FONT face="Times New Roman" size=2>(3)</FONT></TD>
    <TD vAlign=top align=right width="1%"></TD>
    <TD vAlign=top width="98%"><FONT face="Times New Roman" size=2>Stock option vests in a
      series of 48 equal consecutive monthly installments commencing from the
      date of grant, provided the executive officer continues to provide
      services to the Company.</FONT></TD></TR>
  <TR>
    <TD vAlign=top align=right width="2%" colSpan=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD vAlign=top width="98%"></TD></TR>
  <TR>
    <TD vAlign=top align=right width="1%"><FONT face="Times New Roman" size=2>(4)</FONT></TD>
    <TD vAlign=top align=right width="1%"></TD>
    <TD vAlign=top width="98%"><FONT face="Times New Roman" size=2>Restricted stock award
      vests in a series of four equal consecutive annual installments commencing
      on the date of grant, provided the executive officer continues to provide
      services to the Company.</FONT></TD></TR>
  <TR>
    <TD vAlign=top align=right width="100%" colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top align=right width="1%"><FONT face="Times New Roman" size=2>(5)</FONT></TD>
    <TD vAlign=top align=right width="1%"></TD>
    <TD vAlign=top width="98%"><FONT face="Times New Roman" size=2>Restricted stock award
      vests in a series of two equal consecutive annual installments commencing
      from May 28, 2011, provided the executive officer continues to provide
      services to the Company.</FONT></TD></TR>
  <TR>
    <TD vAlign=top align=right width="100%" colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top align=right width="1%"><FONT face="Times New Roman" size=2>(6)</FONT></TD>
    <TD vAlign=top align=right width="1%"></TD>
    <TD vAlign=top width="98%"><FONT face="Times New Roman" size=2>Restricted stock award
      vests in full upon achievement of a clinical development milestone related
      to Phase 2 clinical trial data for the imetelstat program during a
      three-year performance period.</FONT></TD></TR>
  <TR>
    <TD vAlign=top align=right width="100%" colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top align=right width="1%"><FONT face="Times New Roman" size=2>(7)</FONT></TD>
    <TD vAlign=top align=right width="1%"></TD>
    <TD vAlign=top width="98%"><FONT face="Times New Roman" size=2>Restricted stock award
      vests in full upon achievement of a clinical development milestone related
      to Phase 1 clinical trial data for the GRNOPC1 program during a three-year
      performance period.</FONT></TD></TR>
  <TR>
    <TD vAlign=top align=right width="100%" colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top align=right width="1%"><FONT face="Times New Roman" size=2>(8)</FONT></TD>
    <TD vAlign=top align=right width="1%"></TD>
    <TD vAlign=top width="98%"><FONT face="Times New Roman" size=2>Restricted stock award
      vests in full upon completion of a specific strategic initiative related
      to the Company&#146;s cell therapy programs during a three-year performance
      period.</FONT></TD></TR>
  <TR>
    <TD vAlign=top align=right width="100%" colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top align=right width="1%"><FONT face="Times New Roman" size=2>(9)</FONT></TD>
    <TD vAlign=top align=right width="1%"></TD>
    <TD vAlign=top width="98%"><FONT face="Times New Roman" size=2>Restricted stock award
      vests in full upon attainment of a market price threshold of our Common
      Stock within 24 months and a higher market price threshold of our Common
      Stock within 36 months during a three-year performance
period.</FONT></TD></TR>
  <TR>
    <TD vAlign=top align=right width="100%" colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top align=right width="1%"><FONT face="Times New Roman" size=2>(10)</FONT></TD>
    <TD vAlign=top align=right width="1%"></TD>
    <TD vAlign=top width="98%"><FONT face="Times New Roman" size=2>Restricted stock award
      vests in full upon achievement of a clinical development milestone related
      to Phase 2 clinical trial data for the GRN1005 program during a 19-month
      performance period. This award was cancelled on December 31, 2012 upon the
      expiration of the performance period.</FONT></TD></TR>
  <TR>
    <TD vAlign=top align=right width="100%" colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top align=right width="1%"><FONT face="Times New Roman" size=2>(11)</FONT></TD>
    <TD vAlign=top align=right width="1%"></TD>
    <TD vAlign=top width="98%"><FONT face="Times New Roman" size=2>Restricted stock award
      vests in full upon achievement of a clinical development milestone related
      to Phase 3 clinical trials for the GRN1005 program during a 37-month
      performance period.</FONT></TD></TR>
  <TR>
    <TD vAlign=top align=right width="100%" colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top align=right width="1%"><FONT face="Times New Roman" size=2>(12)</FONT></TD>
    <TD vAlign=top align=right width="1%"></TD>
    <TD vAlign=top width="98%"><FONT face="Times New Roman" size=2>Mr. Cooper joined the
      Company in January 2012. His stock option originally vested as follows:
      (i) 62,500 shares on July 1, 2012 and (ii) the remaining 437,500 shares in
      a series of 42 equal consecutive monthly installments commencing from July
      1, 2012. On December 7, 2012, Mr. Cooper separated employment from the
      Company and the vesting of his stock options ceased and all unvested
      options automatically terminated. The number of
      exercisable options represents the aggregate vested options from his stock
      option grant.</FONT></TD></TR>
  <TR>
    <TD vAlign=top align=right width="100%" colSpan=3>&nbsp;</TD></TR>

  <TR>
    <TD vAlign=top align=right width="1%"><FONT face="Times New Roman" size=2>(13)</FONT></TD>
    <TD vAlign=top align=right width="1%"></TD>
    <TD vAlign=top width="98%"><FONT face="Times New Roman" size=2>Stock option originally
      vested as follows: (i) 8,333 shares on July 17, 2012 and (ii) the
      remaining 191,667 shares in a series of 46 equal consecutive monthly
      installments commencing from July 17, 2012. On December 7, 2012, Mr.
      Cooper separated employment from the Company and the vesting of his stock
      options ceased and all unvested options automatically terminated. The
      number of exercisable options represents the aggregate vested options from
      his stock option grant.</FONT></TD></TR>
  <TR>
    <TD vAlign=top align=right width="100%" colSpan=3>&nbsp;&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top align=right width="1%"><FONT face="Times New Roman" size=2>(14)</FONT></TD>
    <TD vAlign=top align=right width="1%"></TD>
    <TD vAlign=top width="98%"><FONT face="Times New Roman" size=2>In connection with the
      restructuring in December 2012, Mr. Cooper separated employment from the
      Company. In accordance with his separation agreement, exercisable options
      held by Mr. Cooper on the date of termination shall expire two years from
      the date of termination.</FONT></TD></TR>
  <TR>
    <TD vAlign=top align=right width="100%" colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top align=right width="1%"><FONT face="Times New Roman" size=2>(15)</FONT></TD>
    <TD vAlign=top align=right width="1%"></TD>
    <TD vAlign=top width="98%"><FONT face="Times New Roman" size=2>Dr. Grethlein joined
      the Company in September 2012. Stock option vests as follows: (i) 75,000
      shares on March 17, 2013 and (ii) the remaining 525,000 shares in a series
      of 42 equal consecutive monthly installments commencing from March 17,
      2013, provided the executive officer continues to provide services to the
      Company.</FONT></TD></TR>
  <TR>
    <TD vAlign=top align=right width="100%" colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top align=right width="1%"><FONT face="Times New Roman" size=2>(16)</FONT></TD>
    <TD vAlign=top align=right width="1%"></TD>
    <TD vAlign=top width="98%"><FONT face="Times New Roman" size=2>Stock option vests as
      follows: 25,000 shares on October 27, 2009, and the remaining 175,000
      shares in a series of 42 equal consecutive monthly installments commencing
      on October 27, 2009, provided the executive officer continues to provide
      services to the Company.</FONT></TD></TR>
  <TR>
    <TD vAlign=top align=right width="100%" colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top align=right width="1%"><FONT face="Times New Roman" size=2>(17)</FONT></TD>
    <TD vAlign=top align=right width="1%"></TD>
    <TD vAlign=top width="98%"><FONT face="Times New Roman" size=2>Stock option was
      granted in connection with Mr. Rosenfield&#146;s consulting agreement prior to
      his employment with the Company.</FONT></TD></TR></TABLE>
<P align=center><FONT face="Times New Roman" size=2>49</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>

<P align=left><FONT face="Times New Roman" size=2><A href="#toc">Table of
Contents</A></FONT></P>

<TABLE style="TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap align=right width="1%"><FONT face="Times New Roman" size=2>(18)</FONT></TD>
    <TD vAlign=top noWrap width="1%"></TD>
    <TD align=left width="98%">
      <P align=justify><FONT face="Times New Roman" size=2>Mr. Rosenfield joined the Company
      in February 2012. Stock option vests as follows: (i) 53,125 shares on
      August 16, 2012 and (ii) the remaining 371,875 shares in a series of 42
      equal consecutive monthly installments commencing from August 16, 2012,
      provided the executive officer continues to provide services to the
      Company.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top noWrap align=right width="2%" colSpan=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="98%"></TD></TR>
  <TR>
    <TD vAlign=top noWrap align=right width="1%"><FONT face="Times New Roman" size=2>(19)</FONT></TD>
    <TD vAlign=top noWrap width="1%"></TD>
    <TD width="98%"><FONT face="Times New Roman" size=2>Stock option vests as follows: (i)
      12,500 shares on August 17, 2012 and (ii) the remaining 187,500 shares in
      a series of 45 equal consecutive monthly installments commencing from
      August 17, 2012, provided the executive officer continues to provide
      services to the Company.</FONT></TD></TR></TABLE>
<P align=justify><B><FONT face="Times New Roman" size=2>Restricted Stock Awards Vested in
2012 </FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The following table includes certain
information with respect to the vesting of restricted stock awards held by the
Named Executive Officers during the fiscal year ended December 31, 2012. No
options were exercised by the Named Executive Officers during the fiscal year
ended December 31, 2012. </FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="18%"><B><FONT face="Times New Roman" size=1>Named Executive
    Officer</FONT></B></TD>
    <TD noWrap align=left width="71%">&nbsp;</TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="4%" colSpan=3><B><FONT face="Times New Roman" size=1>Number of</FONT></B><BR><B><FONT face="Times New Roman" size=1>Shares Acquired</FONT></B><BR><B><FONT face="Times New Roman" size=1>On Vesting</FONT></B><BR><B><FONT face="Times New Roman" size=1></FONT></B><B><FONT face="Times New Roman" size=1>(#)<SUP>(1)</SUP></FONT></B>
      <B><FONT face="Times New Roman" size=1><SUP></SUP></FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="5%" colSpan=4><B><FONT face="Times New Roman" size=1>Value</FONT></B><BR><B><FONT face="Times New Roman" size=1>Realized
      on</FONT></B><BR><B><FONT face="Times New Roman" size=1>Vesting</FONT></B><BR><B><FONT face="Times New Roman" size=1>($)<SUP>(2)</SUP></FONT></B> <B><FONT face="Times New Roman" size=1><SUP></SUP></FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="89%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>John A. Scarlett, M.D.</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="89%" colSpan=2><FONT face="Times New Roman" size=2>Olivia
      K. Bloom</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="2%"><FONT face="Times New Roman" size=2>21,750</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%"><FONT face="Times New Roman" size=2>30,885</FONT></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="89%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Graham K. Cooper</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="89%" colSpan=2><FONT face="Times New Roman" size=2>Andrew
      J. Grethlein, Ph.D.</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="2%"><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%"><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="89%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Stephen M. Kelsey, M.D., F.R.C.P, F.R.C.Path.</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>18,750</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%" bgColor=#cceeff><FONT face="Times New Roman" size=2>26,625</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="89%" colSpan=2><FONT face="Times New Roman" size=2>Stephen N. Rosenfield, J.D.</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="2%"><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="2%"><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%"></TD></TR></TABLE>____________________<BR>&nbsp;<BR>
<TABLE style="TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(1)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%"><FONT face="Times New Roman" size=2>Represents the vesting
      of previously granted restricted stock awards.</FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD vAlign=top width="100%"></TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(2)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%"><FONT face="Times New Roman" size=2>The value realized is
      based upon the closing market price of our Common Stock on the vesting
      date multiplied by the number of shares of restricted stock
    vested.</FONT></TD></TR></TABLE>
<P align=justify><B><FONT face="Times New Roman" size=2>Pension Benefits</FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>None of the Named Executive Officers
participates in or has an account balance under any pension or qualified or
non-qualified defined benefit retirement plans sponsored by the Company.
</FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>Non-Qualified Deferred Compensation
</FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>None of the Named Executive Officers
participates in or has an account balance under non-qualified defined
contribution plans or other deferred compensation plans maintained by the
Company.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>50</FONT></P>



<HR align=center width="100%" noShade SIZE=2>
<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>

<!-- PART F -->
<P align=left><FONT face="Times New Roman" size=2><A HREF="#toc">Table of Contents</A></font></P>
<P align=justify><B><FONT face="Times New Roman" size=2>Potential Payments Upon Termination
or Change in Control </FONT></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>See discussion
of potential payments upon termination or change in control in the section
entitled, &#147;Compensation Discussion and Analysis &#150; Severance and Change in
Control Benefits.&#148; </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The table below summarizes the actual or potential payments, as
applicable, under the Amended Severance Plan, individual employment agreements
or transition and separation agreements, as applicable, for the Named Executive
Officers and our equity plans if a qualifying termination and/or change in
control event occurred on December 31, 2012 (except as noted with respect to Mr.
Cooper): </FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" colSpan=2></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD noWrap align=center width="7%" colSpan=5><B><FONT face="Times New Roman" size=1>Covered</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="6%" colSpan=4><B><FONT face="Times New Roman" size=1>Termination</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="6%" colSpan=4><B><FONT face="Times New Roman" size=1>Change in</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" colSpan=2></TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap align=center width="7%" colSpan=5><B><FONT face="Times New Roman" size=1>Termination</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" noWrap width="6%" colSpan=4><B><FONT face="Times New Roman" size=1>Without Cause or</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" noWrap width="6%" colSpan=4><B><FONT face="Times New Roman" size=1>Control</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" colSpan=2></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD noWrap align=center width="7%" colSpan=5><B><FONT face="Times New Roman" size=1>(No Change in</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="6%" colSpan=4><B><FONT face="Times New Roman" size=1>for Good Reason</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="6%" colSpan=4><B><FONT face="Times New Roman" size=1>Without</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"><B><FONT face="Times New Roman" size=1>Named Executive
      Officer</FONT></B></TD>
    <TD noWrap align=left width="73%">&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="3%"><B><FONT face="Times New Roman" size=1>Benefit</FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="7%" colSpan=5><B><FONT face="Times New Roman" size=1>Control)</FONT></B><B><FONT face="Times New Roman" size=1><SUP>(1)</SUP></FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="6%" colSpan=4><B><FONT face="Times New Roman" size=1>(Change in
      Control)<SUP>(2)(3)</SUP></FONT></B></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center" noWrap width="6%" colSpan=4><B><FONT face="Times New Roman" size=1>Termination<SUP>(3)</SUP></FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>John A. Scarlett, M.D.</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Severance</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>1,430,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>1,430,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;&nbsp;&nbsp;
      &nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;&nbsp;&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" bgColor=#cceeff colSpan=2></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Benefits</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>33,300</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>33,300</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" bgColor=#cceeff colSpan=2></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Option and</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" bgColor=#cceeff colSpan=2></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Restricted</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" bgColor=#cceeff colSpan=2></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Stock Vesting</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Total</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>1,463,300</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>1,463,300</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff>&nbsp;</TD></TR>
  <TR>
    <TD width="99%" colSpan=19>&nbsp;</TD>
    <TD width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Olivia K. Bloom</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Severance</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>448,200</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>530,700</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" bgColor=#cceeff colSpan=2></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Benefits</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>16,650</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>20,813</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" bgColor=#cceeff colSpan=2></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Option and</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" bgColor=#cceeff colSpan=2></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Restricted</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" bgColor=#cceeff colSpan=2></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Stock Vesting</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>125,843</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>125,843</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Total</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>464,850</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>677,356</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>125,843</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff>&nbsp;</TD></TR>
  <TR>
    <TD width="99%" colSpan=19>&nbsp;</TD>
    <TD width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Graham K. Cooper</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Severance</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>532,654</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2><SUP>(4)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" bgColor=#cceeff colSpan=2></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Benefits</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>23,939</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2><SUP>(4)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" bgColor=#cceeff colSpan=2></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Option and</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" bgColor=#cceeff colSpan=2></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Restricted</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" bgColor=#cceeff colSpan=2></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Stock Vesting</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Total</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>556,593</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff>&nbsp;</TD></TR>
  <TR>
    <TD width="99%" colSpan=19>&nbsp;</TD>
    <TD width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Andrew J. Grethlein, Ph.D.</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Severance</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>400,955</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>489,705</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" bgColor=#cceeff colSpan=2></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Benefits</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>23,939</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>29,924</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" bgColor=#cceeff colSpan=2></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Option and</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" bgColor=#cceeff colSpan=2></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Restricted</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" bgColor=#cceeff colSpan=2></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Stock Vesting</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Total</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>424,894</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>519,629</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff>&nbsp;</TD></TR>
  <TR>
    <TD width="99%" colSpan=19>&nbsp;</TD>
    <TD width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Stephen M. Kelsey, M.D., F.R.C.P,</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" bgColor=#cceeff colSpan=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Times New Roman" size=2>F.R.C.Path.<SUP>(5)</SUP></FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Severance</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>518,750</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" bgColor=#cceeff colSpan=2></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Benefits</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>29,924</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" bgColor=#cceeff colSpan=2></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Option and</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" bgColor=#cceeff colSpan=2></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Restricted</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" bgColor=#cceeff colSpan=2></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Stock Vesting</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>545,494</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>545,494</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Total</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>1,094,168</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>545,494</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff>&nbsp;</TD></TR>
  <TR>
    <TD width="99%" colSpan=19>&nbsp;</TD>
    <TD width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Stephen N. Rosenfield,
      J.D.<SUP>(6)</SUP></FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Severance</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>423,400</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>496,400</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" bgColor=#cceeff colSpan=2></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Benefits</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" bgColor=#cceeff colSpan=2></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Option and</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" bgColor=#cceeff colSpan=2></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Restricted</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" bgColor=#cceeff colSpan=2></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Stock Vesting</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="74%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Total</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>423,400</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>496,400</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff>&nbsp;</TD></TR></TABLE><BR>
<P align=center><FONT face="Times New Roman" size=2>51</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV>
<P align=left><FONT face="Times New Roman" size=2><A HREF="#toc">Table of Contents</A></font></P>
____________________<BR>&nbsp;<BR>
<TABLE style="TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(1)</FONT></TD>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Except as noted below with
      respect to Mr. Cooper, amounts represent lump-sum severance payments,
      target annual incentive bonus and continued benefits that could be paid to
      the Named Executive Officer upon a Covered Termination, not in connection
      with a change in control transaction on December 31, 2012, under such Named
      Executive Officer&#146;s employment agreement as of December 31, 2012.
      Descriptions of the severance payments in the event of the Covered
      Termination provided for under such Named Executive Officer&#146;s employment
      agreement are included under the section entitled &#147;Compensation Discussion
      and Analysis &#150; Severance and Change in Control Benefits&#148; on page
    39.</FONT></TD></TR>
  <TR>
    <TD colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(2)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Amounts represent lump-sum
      severance payments, target annual incentive bonus, continued benefits and
      the value of acceleration of stock awards vesting, if any, that could be
      paid to the Named Executive Officer under such Named Executive Officer&#146;s
      employment agreement and/or our Amended Severance Plan in the event of the
      Covered Termination or termination by Geron without cause, or voluntary
      resignation by the Named Executive Officer for good reason, in connection
      with a change in control on December 31, 2012, as applicable. Any payments
      made under the Named Executive Officer&#146;s employment agreement would be
      deducted from payments due under the Severance Plan. No amounts are shown
      in this column for Mr. Cooper since he would not be eligible for benefits
      under our Amended Severance Plan due to his separation from the Company in
      2012.</FONT></TD></TR>
  <TR>
    <TD colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(3)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Amounts represent the intrinsic
      value of options that would become fully vested and exercisable and
      restricted stock awards that would fully vest upon a change in control (assuming
      that the options and stock awards were not continued or substituted by the
      successor corporation), regardless of termination, based on a market value of $1.41 per
      share of Common Stock as of December 31, 2012. Drs. Scarlett and Grethlein
      and Mr. Rosenfield do not hold any restricted stock awards and since the
      exercise price for all options outstanding for each of the Named Executive
      Officers equaled or exceeded the market value of $1.41 per share as of
      December 31, 2012, the intrinsic value with respect to such option awards
      was zero.</FONT></TD></TR>
  <TR>
    <TD colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(4)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>In connection with the December
      2012 restructuring, Mr. Cooper separated employment from the Company.
      Under the Cooper Separation Agreement, Mr. Cooper was paid severance
      benefits that included a lump-sum payment equal to his 2012 target annual
      incentive bonus, pro-rated for his service to us in 2012 through his
      separation date. See the section entitled &#147;Severance and Change in Control
      Benefits&#148; for a further description of the severance benefits paid to Mr.
      Cooper.</FONT></TD></TR>
  <TR>
    <TD colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(5)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Dr. Kelsey entered into an
      employment agreement in January 2013. Prior to this, Dr. Kelsey was not
      eligible to receive any benefits upon termination without cause or for
      good reason, not in connection with a change in control transaction. For
      information about Dr. Kelsey&#146;s 2013 employment agreement, see the section
      entitled &#147;Compensation Discussion and Analysis &#150; Employment Agreements&#148; on
      page 38.</FONT></TD></TR>
  <TR>
    <TD colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(6)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Since Mr. Rosenfield does not
      participate in Geron&#146;s health benefit plans, he would not receive any
      continued benefits upon termination.</FONT></TD></TR></TABLE>
<P align=center><FONT face="Times New Roman" size=2>52</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2><A HREF="#toc">Table of Contents</A></font></P>
<P align=center><B><FONT face="Times New Roman" size=2><A NAME="equitycomp"></A>EQUITY COMPENSATION PLANS
</FONT></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>The following
table summarizes information with respect to equity awards under Geron&#146;s equity
compensation plans at December 31, 2012: </FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="81%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD NOWRAP ALIGN="RIGHT" WIDTH="6%" COLSPAN="4" STYLE="text-align: center"><B><FONT face="Times New Roman" size=1>Number of</FONT></B></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap style="text-align: center" width="3%"><B><FONT face="Times New Roman" size=1>Weighted-</FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="6%" colSpan=4><B><FONT face="Times New Roman" size=1>Number of securities</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="81%"></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD NOWRAP WIDTH="6%" COLSPAN="4" STYLE="text-align: center"><B><FONT face="Times New Roman" size=1>securities to be</FONT></B></TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap style="text-align: center" width="3%"><B><FONT face="Times New Roman" size=1>average</FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap style="text-align: center" width="6%" colSpan=4><B><FONT face="Times New Roman" size=1>remaining available for</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="81%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD NOWRAP WIDTH="6%" COLSPAN="4" STYLE="text-align: center"><B><FONT face="Times New Roman" size=1>issued upon exercise</FONT></B></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap style="text-align: center" width="3%"><B><FONT face="Times New Roman" size=1>exercise
      price</FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="6%" colSpan=4><B><FONT face="Times New Roman" size=1>future issuance under</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="81%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD NOWRAP WIDTH="6%" COLSPAN="4" STYLE="text-align: center"><B><FONT face="Times New Roman" size=1>of outstanding</FONT></B></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap style="text-align: center" width="3%"><B><FONT face="Times New Roman" size=1>of
      outstanding</FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="6%" colSpan=4><B><FONT face="Times New Roman" size=1>equity compensation</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="81%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD NOWRAP WIDTH="6%" COLSPAN="4" STYLE="text-align: center"><B><FONT face="Times New Roman" size=1>options, warrants</FONT></B></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap style="text-align: center" width="3%"><B><FONT face="Times New Roman" size=1>options,
      warrants</FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="6%" colSpan=4><B><FONT face="Times New Roman" size=1>plans (excluding securities</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="81%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD NOWRAP COLSPAN="4" STYLE="text-align: right; width: 6%; text-align: center; border-bottom: Black 1pt solid"><B><FONT face="Times New Roman" size=1>and rights</FONT></B></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD NOWRAP STYLE="text-align: center; width: 3%; border-bottom: Black 1pt solid"><B><FONT face="Times New Roman" size=1>and
      rights</FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD NOWRAP COLSPAN="4" STYLE="text-align: center; width: 6%; border-bottom: Black 1pt solid"><B><FONT face="Times New Roman" size=1>reflected in column (a))</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="81%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD NOWRAP COLSPAN="4" STYLE="text-align: center; width: 6%;"><B><FONT face="Times New Roman" size=1>(a)</FONT></B></TD>
    <TD NOWRAP STYLE="text-align: left; width: 1%"></TD>
    <TD NOWRAP STYLE="text-align: center; width: 3%;"><B><FONT face="Times New Roman" size=1>(b)</FONT></B></TD>
    <TD NOWRAP STYLE="text-align: center; width: 1%"></TD>
    <TD NOWRAP COLSPAN="4" STYLE="text-align: center; width: 6%;"><B><FONT face="Times New Roman" size=1>(c)</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="81%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Equity compensation
      plans approved by</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="81%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; security
    holders</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>17,811,506</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2><SUP>(1)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap style="text-align: center" width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$4.05</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>13,914,161</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2><SUP>(2)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="81%"><FONT face="Times New Roman" size=2>Equity compensation plans not approved
      by</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%">&nbsp;</TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=left width="3%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%">&nbsp;</TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="81%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      security holders</FONT></TD>
    <TD noWrap align=right width="1%">&nbsp;</TD>
    <TD noWrap align=right width="1%"></TD>
    <TD NOWRAP STYLE="text-align: right; width: 3%; border-bottom: Black 1pt solid"><FONT face="Times New Roman" size=2>470,000</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2><SUP>(3)</SUP></FONT></TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap style="text-align: center" width="3%"><FONT face="Times New Roman" size=2>$3.75</FONT></TD>
    <TD noWrap align=right width="1%">&nbsp;</TD>
    <TD noWrap align=right width="1%"></TD>
    <TD NOWRAP STYLE="text-align: right; width: 3%; border-bottom: Black 1pt solid"><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="81%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD NOWRAP STYLE="text-align: right; width: 3%; background-color: #cceeff; border-bottom: Black 2pt double"><FONT face="Times New Roman" size=2>18,281,506</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap style="text-align: center" width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$4.04</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD NOWRAP STYLE="text-align: right; width: 3%; background-color: #cceeff; border-bottom: Black 2pt double"><FONT face="Times New Roman" size=2>13,914,161</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR></TABLE>____________________<BR><BR>
<TABLE style="TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(1)</FONT></TD>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Consists of 7,987,788 shares to
      be issued upon exercise of outstanding options under the 2002 Equity
      Incentive Plan, 8,266,437 shares under the 2011 Incentive Award Plan,
      312,500 shares under the 1996 Directors&#146; Stock Option Plan and 1,244,781
      shares under the 2006 Directors&#146; Plan.</FONT></TD></TR>
  <TR>
    <TD colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(2)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Consists of 356,390 shares of
      Common Stock reserved for issuance under Geron&#146;s 1996 Employee Stock
      Purchase Plan, 12,705,984 shares of Common Stock reserved for issuance
      under Geron&#146;s 2011 Incentive Award Plan and 851,787 shares of Common Stock
      reserved for issuance under Geron&#146;s 2006 Directors&#146; Plan. No shares are
      available for issuance under Geron&#146;s 1992 Stock Option Plan, 2002 Equity
      Incentive Plan or 1996 Directors&#146; Stock Option Plan.</FONT></TD></TR>
  <TR>
    <TD colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(3)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Represents outstanding warrants
      issued in conjunction with consulting services. For further details, see
      Note 10 of the consolidated financial statements in our Annual Report on
      Form 10-K filed with the SEC on March 15, 2013.</FONT></TD></TR></TABLE>
<P align=center><B><FONT face="Times New Roman" size=2><A NAME="proposal3"></A>PROPOSAL 3 </FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2>RATIFICATION OF SELECTION
OF<BR></FONT></B><B><FONT face="Times New Roman" size=2>INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM </FONT></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>The Audit
Committee of the Board has selected Ernst &amp; Young LLP as our independent
registered public accounting firm for the fiscal year ending December 31, 2013,
and has further directed that management submit the selection of the independent
registered public accounting firm for ratification by our stockholders at the
Annual Meeting. Ernst &amp; Young LLP has served as our independent registered
public accounting firm since 1992. Representatives of Ernst &amp; Young LLP are
expected to be present at the Annual Meeting, will have an opportunity to make a
statement if they so desire, and will be available to respond to appropriate
questions from stockholders. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>We have been informed by Ernst &amp; Young LLP that, to the best of their
knowledge, neither the firm nor any of its members or their associates has any
direct financial interest or material indirect financial interest in Geron or
our affiliates. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Stockholder ratification of the selection of Ernst &amp; Young LLP as our
independent registered public accounting firm is not required by our Bylaws or
otherwise. However, the Board is submitting the selection of Ernst &amp; Young
LLP to our stockholders for ratification as a matter of good corporate practice.
If our stockholders fail to ratify the selection, the Audit Committee and the
Board will reconsider whether or not to retain that firm. Even if the selection
is ratified, the Audit Committee and the Board in their discretion may direct
the appointment of a different independent registered public accounting firm at
any time during the year if they determine that such a change would be in the
best interest of Geron and our stockholders. </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>53</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2><A HREF="#toc">Table of Contents</A></font></P>
<P align=justify><B><FONT face="Times New Roman" size=2>Vote Required and Board
Recommendation </FONT></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>Stockholder
ratification of Ernst &amp; Young LLP as our independent registered public
accounting firm requires the affirmative vote of the holders of a majority of
the shares present in person or represented by proxy at this meeting.
Abstentions will have the same effect as a vote against this proposal, and
broker non-votes will have no effect on the outcome of this proposal.
</FONT></P>
<P align=center><B><FONT face="Times New Roman" size=2>The Board of Directors Unanimously
Recommends That<BR>Stockholders Vote <U>FOR</U> Proposal 3 </FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2><A NAME="principalacc"></A>PRINCIPAL ACCOUNTANT FEES AND
SERVICES </FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Audit Committee maintains policies and procedures for the
pre-approval of work performed by the independent registered public accounting
firm. Under the Audit Committee&#146;s charter, all engagements of the independent
registered public accounting firm must be approved in advance by the Audit
Committee. The Chairperson of the Audit Committee must be notified at any time
the fees for a specific project exceed 20% of the approved budget for
authorization to continue the project. Management recommendations will be
considered in connection with such engagements, but management will have no
authority to approve engagements. For each quarterly Audit Committee meeting,
management prepares a schedule of all fees paid to Ernst &amp; Young LLP during
the previous quarter and estimated fees for projects contemplated in the
following quarter. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Upon recommendation by the Audit Committee, the Board selected Ernst
&amp; Young LLP to act in the same capacity for the fiscal year ending December
31, 2013. We have been informed by Ernst &amp; Young LLP, to the best of their
knowledge, that neither the firm nor any of its members or their associates has
any financial interest, direct or indirect in Geron or our affiliates.
</FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>Audit Fees and All Other Fees
</FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Audit Committee approved 100% of all audit, tax and other services
provided by Ernst &amp; Young LLP in 2012 and 2011. The total fees paid to Ernst
&amp; Young LLP for the last two fiscal years are as follows: </FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="86%"></TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap align=left width="6%" colSpan=4><B><FONT face="Times New Roman" size=1>Fiscal Year Ended</FONT></B></TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap align=left width="6%" colSpan=4><B><FONT face="Times New Roman" size=1>Fiscal Year Ended</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%"></TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="6%" colSpan=4><B><FONT face="Times New Roman" size=1>December 31,
      2012</FONT></B></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="6%" colSpan=4><B><FONT face="Times New Roman" size=1>December 31,
      2011</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Audit
      Fees<SUP>(1)</SUP></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff>&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>493,263</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff>&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff>&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>488,164</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff>&nbsp;&nbsp;&nbsp;&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%"><FONT face="Times New Roman" size=2>Audit Related Fees</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Tax
      Fees<SUP>(2)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>2,868</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>9,813</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%"><FONT face="Times New Roman" size=2>All Other Fees<SUP>(3)</SUP></FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>1,795</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>1,995</FONT></TD>
    <TD noWrap align=right width="1%"></TD></TR></TABLE>____________________<BR><BR>
<TABLE style="TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(1)</FONT></TD>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Audit Fees include the integrated
      audit of annual consolidated financial statements and internal control
      over financial reporting, audits of certain subsidiaries, reviews of
      quarterly consolidated financial statements included in Quarterly Reports
      on Forms 10-Q, consultations on matters addressed during the audit or
      quarterly reviews, and services provided in connection with SEC filings,
      including consents and comment and comfort letters.</FONT></TD></TR>
  <TR>
    <TD colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(2)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Tax Fees consist of services
      related to the filing of tax returns and other assistance with tax
      compliance.</FONT></TD></TR>
  <TR>
    <TD colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(3)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Amounts represent fees for access
      to Ernst &amp; Young&#146;s technical research
portal.</FONT></TD></TR></TABLE>
<P align=center><FONT face="Times New Roman" size=2>54</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2><A HREF="#toc">Table of Contents</A></font></P>
<P align=center><B><FONT face="Times New Roman" size=2><A NAME="auditcommittee"></A>AUDIT COMMITTEE REPORT
</FONT></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>The Audit
Committee of Geron Corporation&#146;s Board of Directors is comprised of four
independent directors as required by the listing standards of NASDAQ. The Audit
Committee operates pursuant to a written charter adopted and amended by the
Board in March 2012. A copy of the Audit Committee&#146;s amended and restated charter
is available on our website at www.geron.com. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The members of the Audit Committee in 2012 were Ms. Eastham (Chairperson)
and Messrs. Bradbury (who joined in September 2012), Fritzky and Kiley. Messrs.
Fritzky and Kiley will retire from the Audit Committee, and Dr. Lawlis will join
the Audit Committee, effective as of the date of Geron&#146;s Annual Meeting on May
22, 2013. The Board has determined that all members of the Audit Committee in
2012 were, and all members of the Audit Committee in 2013 are, financially
literate as required by NASDAQ. The Board has also determined that Ms. Eastham
and Mr. Bradbury are audit committee financial experts as defined by NASDAQ.
</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The function of the Audit Committee is to assist the Board in fulfilling
its oversight responsibilities regarding (i) the quality and integrity of our
financial statements, (ii) our compliance with legal and regulatory
requirements, (iii) the qualifications and independence of the independent
registered public accounting firm serving as our auditors and (iv) the
performance of the independent registered public accounting firm. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Management is responsible for Geron&#146;s internal controls and financial
reporting. The independent registered public accounting firm is responsible for
performing an independent audit of Geron&#146;s consolidated financial statements in
accordance with generally accepted auditing standards and to issue a report
thereon. The Audit Committee&#146;s responsibility is to monitor and oversee these
processes. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In this context, the Audit Committee hereby reports as follows:
</FONT></P>
<TABLE style="TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>1)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>The Audit Committee has reviewed
      and discussed the audited financial statements of the Company as of and
      for the fiscal year ended December 31, 2012 with management and the
      independent registered public accounting firm serving as the Company&#146;s
      independent auditors.</FONT></TD></TR>
  <TR>
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>2)</FONT></TD>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>The Audit Committee has discussed
      with the independent auditors the matters required to be discussed by
      Auditing Standard No. 16 (Communication with Audit Committees) as adopted
      by the Public Company Accounting Oversight Board, other professional
      standards, membership provisions of the SEC Practice Session, and other
      SEC rules, as currently in effect.</FONT></TD></TR>
  <TR>
    <TD></TD>
    <TD colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>3)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>The Audit Committee has received
      the written disclosures and the letter from the independent auditors
      required by Independence Standards Board Standard No. 1 (Independence
      Discussions with Audit Committees), as currently in effect, and it has
      discussed with the auditors their independence from the
  Company.</FONT></TD></TR>
  <TR>
    <TD></TD>
    <TD colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>4)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>The Audit Committee has
      considered whether the independent auditors&#146; provision of non-audit
      services to the Company is compatible with maintaining the auditors&#146;
      independence.</FONT></TD></TR></TABLE>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Based on the reports and discussions described above, the Audit Committee
recommended to the Board that the audited financial statements be included in
Geron&#146;s Annual Report on Form 10-K for the year ended December 31, 2012, for
filing with the SEC. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Submitted on February 22, 2013 by the members of the Audit Committee of
Geron&#146;s Board of Directors. </FONT></P>
<DIV align=right>
<TABLE style="LINE-HEIGHT: 12pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="50%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="100%"><FONT face="Times New Roman" size=2>Karin Eastham
      (Chairperson)</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="100%"><FONT face="Times New Roman" size=2>Daniel M. Bradbury</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="100%"><FONT face="Times New Roman" size=2>Edward V. Fritzky</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="100%"><FONT face="Times New Roman" size=2>Thomas D. Kiley,
  Esq.</FONT></TD></TR></TABLE></DIV>____________________<BR>
<P align=justify><I><FONT face="Times New Roman" size=2>This Section is not &#147;soliciting
material,&#148; is not deemed &#147;filed&#148; with the SEC and is not to be incorporated by
reference in any filing of the Company under the Securities Exchange Act of
1934, as amended, or the Securities Act of 1933, as amended, whether made before
or after the date hereof and irrespective of any general incorporation language
in any such filing. </FONT></I></P>
<P align=center><FONT face="Times New Roman" size=2>55</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2><A HREF="#toc">Table of Contents</A></font></P>
<P align=center><B><FONT face="Times New Roman" size=2><A NAME="securityownership"></A>SECURITY OWNERSHIP OF CERTAIN
BENEFICIAL OWNERS AND MANAGEMENT </FONT></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>The following
table sets forth the amount and percentage of the outstanding shares of Common
Stock, which, according to the information supplied to us, are beneficially
owned by: (i) each person, or group of affiliated persons, who is known by us to
be a beneficial owner of more than 5% of our outstanding Common Stock, (ii) each
of our directors and nominees for director, (iii) each of our Named Executive
Officers, as defined on page 25 and (iv) all current directors and executive
officers as a group. Unless otherwise indicated, the address for each of the
stockholders in the table below is c/o Geron Corporation, 149 Commonwealth
Drive, Suite 2070, Menlo Park, CA 94025. Except for information based on
Schedules 13G, as indicated in the footnotes, beneficial ownership is stated as
of February 13, 2013. </FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="91%" colSpan=2></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="8%" colSpan=4><B><FONT face="Times New Roman" size=1>Beneficial
      Ownership</FONT></B><B><FONT face="Times New Roman" size=1><SUP>(1)</SUP></FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%" colSpan=2></TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap style="text-align: center" width="3%"><B><FONT face="Times New Roman" size=1>Number
    of</FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap style="text-align: center" width="4%" colSpan=2><B><FONT face="Times New Roman" size=1>Percent
      of</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="2%"><B><FONT face="Times New Roman" size=1>Beneficial Owner</FONT></B></TD>
    <TD noWrap align=left width="89%">&nbsp;</TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="3%"><B><FONT face="Times New Roman" size=1>Shares</FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid; text-align: center" noWrap width="4%" colSpan=2><B><FONT face="Times New Roman" size=1>Total</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%" bgColor=#cceeff colSpan=2><B><FONT face="Times New Roman" size=2>Directors/Nominees and Named Executive
      Officers:</FONT></B></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%" colSpan=2><FONT face="Times New Roman" size=2>Daniel
      Bradbury<SUP>(2)</SUP></FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>*</FONT></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Karin Eastham<SUP>(3)</SUP></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>182,000</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>*</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%" colSpan=2><FONT face="Times New Roman" size=2>Edward V.
      Fritzky<SUP>(4)</SUP></FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>410,386</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>*</FONT></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Thomas Hofstaetter, Ph.D.<SUP>(5)</SUP></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>150,439</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>*</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%" colSpan=2><FONT face="Times New Roman" size=2>Hoyoung Huh, M.D.,
      Ph.D.<SUP>(6)</SUP></FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>249,506</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>*</FONT></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Thomas D. Kiley, Esq.<SUP>(7)</SUP></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>470,925</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>*</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%" colSpan=2><FONT face="Times New Roman" size=2>V. Bryan Lawlis,
      Ph.D.<SUP>(8)</SUP></FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>23,334</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>*</FONT></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Susan M. Molineaux, Ph.D.<SUP>(9)</SUP></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>*</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%" colSpan=2><FONT face="Times New Roman" size=2>Robert J. Spiegel,
      M.D., FACP<SUP>(10)</SUP></FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>113,838</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>*</FONT></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Olivia K. Bloom<SUP>(11)</SUP></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>476,555</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>*</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%" colSpan=2><FONT face="Times New Roman" size=2>Graham K.
      Cooper<SUP>(12)</SUP></FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>139,583</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>*</FONT></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Andrew J. Grethlein, Ph.D.<SUP>(13)</SUP></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>87,500</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>*</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%" colSpan=2><FONT face="Times New Roman" size=2>Stephen M. Kelsey,
      M.D., F.R.C.P., F.R.C.Path.<SUP>(14)</SUP></FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>878,338</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>*</FONT></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Stephen N. Rosenfield, J.D.<SUP>(15)</SUP></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>224,917</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>*</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%" colSpan=2><FONT face="Times New Roman" size=2>John A. Scarlett,
      M.D.<SUP>(16)</SUP></FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>611,042</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>*</FONT></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>All directors and executive officers as a group (16
      persons)</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>4,834,818</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>3.63</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>%</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%" colSpan=2><B><FONT face="Times New Roman" size=2>5%
      Beneficial Holders:</FONT></B></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%"></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>BlackRock, Inc.<SUP>(17)</SUP></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>10,054,487</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>7.70</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>%</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40 East 52<SUP>nd
      </SUP>Street, New York, NY 10022</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%" bgColor=#ffffff colSpan=2><FONT face="Times New Roman" size=2>The Vanguard Group<SUP>(18)</SUP></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#ffffff></TD>
    <TD noWrap align=right width="3%" bgColor=#ffffff><FONT face="Times New Roman" size=2>7,253,782</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#ffffff></TD>
    <TD noWrap align=right width="3%" bgColor=#ffffff><FONT face="Times New Roman" size=2>5.56</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#ffffff><FONT face="Times New Roman" size=2>%</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="91%" colSpan=2><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100 Vanguard Boulevard,
      Malvern, PA 19355</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%"></TD>
    <TD noWrap align=left width="1%"></TD></TR></TABLE>____________________<BR>&nbsp;<BR>
<TABLE style="TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap align=right><FONT size=2 face="Times New Roman">*</FONT></TD>
    <TD vAlign=top noWrap align=right></TD>
    <TD width="100%">
      <P align=justify><FONT face="Times New Roman" size=2>Represents beneficial ownership
      of less than 1% of Common Stock. </FONT></P></TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="100%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(1)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Beneficial ownership is
      determined in accordance with the rules of the SEC. In computing the
      number of shares beneficially owned by a person and the percentage of
      ownership of that person, shares of Common Stock exercisable pursuant to
      the exercise of options held by that person that are currently exercisable
      or exercisable within 60 days of February 13, 2013 are deemed outstanding.
      Such shares, however, are not deemed outstanding for the purpose of
      computing the percentage ownership of each other person. Applicable
      percentages are based on 130,568,912 shares outstanding on February 13,
      2013, adjusted as required by rules promulgated by the SEC. The persons
      named in this table, to the best of our knowledge, have sole voting and
      investment power with respect to all shares of Common Stock shown as
      beneficially owned by them, subject to community property laws where
      applicable and except as indicated in the other footnotes to this
      table.</FONT></TD></TR>
  <TR>
    <TD colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(2)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Mr. Bradbury was appointed to the
      Board in September 2012.</FONT></TD></TR>
  <TR>
    <TD colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(3)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Consists of 11,625 shares held
      directly by Karin Eastham, 59,875 shares held under unvested restricted
      stock awards and 110,500 shares issuable upon the exercise of outstanding
      options held by Ms. Eastham exercisable within 60 days of February 13,
      2013.</FONT></TD></TR></TABLE>
<P align=center><FONT face="Times New Roman" size=2>56</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2><A HREF="#toc">Table of Contents</A></font></P>
<TABLE style="TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top align=right><FONT face="Times New Roman" size=2>(4)</FONT></TD>
    <TD vAlign=top align=right></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Consists of 162,700 shares held
      directly by Edward V. Fritzky, 62,436 shares held under unvested
      restricted stock awards and 185,250 shares issuable upon the exercise of
      outstanding options held by Mr. Fritzky exercisable within 60 days of
      February 13, 2013.</FONT></TD></TR>
  <TR>
    <TD colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top align=right><FONT face="Times New Roman" size=2>(5)</FONT></TD>
    <TD vAlign=top align=right></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Consists of 21,596 shares held
      directly by Thomas Hofstaetter, 52,468 shares held under unvested
      restricted stock awards and 76,375 shares issuable upon the exercise of
      outstanding options held by Dr. Hofstaetter exercisable within 60 days of
      February 13, 2013.</FONT></TD></TR>
  <TR>
    <TD colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top align=right><FONT face="Times New Roman" size=2>(6)</FONT></TD>
    <TD vAlign=top align=right></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Consists of 47,215 shares held by
      Hoyoung Huh, 95,312 shares held under unvested restricted stock awards and
      106,979 shares issuable upon the exercise of outstanding options held by
      Dr. Huh exercisable within 60 days of February 13, 2013.</FONT></TD></TR>
  <TR>
    <TD colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top align=right><FONT face="Times New Roman" size=2>(7)</FONT></TD>
    <TD vAlign=top align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Consists of 163,849 shares held
      directly by Thomas D. Kiley, 61,218 shares held under unvested restricted
      stock awards, 9,705 shares held by the Kiley Family Partnership (of which
      7,279 shares Mr. Kiley disclaims beneficial ownership) and 96,653 shares
      held by the Thomas D. Kiley and Nancy L.M. Kiley Revocable Trust under
      Agreement dated August 7, 1981. Also includes 139,500 shares issuable upon
      the exercise of outstanding options held by Mr. Kiley exercisable within
      60 days of February 13, 2013.</FONT></TD></TR>
  <TR>
    <TD colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top align=right><FONT face="Times New Roman" size=2>(8)</FONT></TD>
    <TD vAlign=top align=right></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Consists of 23,334 shares
      issuable upon the exercise of outstanding options held by V. Bryan Lawlis
      exercisable within 60 days of February 13, 2013.</FONT></TD></TR>
  <TR>
    <TD colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top align=right><FONT face="Times New Roman" size=2>(9)</FONT></TD>
    <TD vAlign=top align=right></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Dr. Molineaux was appointed to
      the Board in September 2012.</FONT></TD></TR>
  <TR>
    <TD colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top align=right><FONT face="Times New Roman" size=2>(10)</FONT></TD>
    <TD vAlign=top align=right></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Consists of 12,588 shares held
      directly by Robert J. Spiegel, 51,250 shares held under unvested
      restricted stock awards and 50,000 shares issuable upon exercise of
      outstanding options held by Dr. Spiegel exercisable within 60 days of
      February 13, 2013.</FONT></TD></TR>
  <TR>
    <TD colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top align=right><FONT face="Times New Roman" size=2>(11)</FONT></TD>
    <TD vAlign=top align=right></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Consists of 92,516 shares held
      directly by Olivia K. Bloom, 89,250 shares held under unvested restricted
      stock awards and 294,789 shares issuable upon the exercise of outstanding
      options held by Ms. Bloom exercisable within 60 days of February 13,
      2013.</FONT></TD></TR>
  <TR>
    <TD colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top align=right><FONT face="Times New Roman" size=2>(12)</FONT></TD>
    <TD vAlign=top align=right></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Consists of 139,583 shares
      issuable upon the exercise of outstanding options held by Graham K. Cooper
      exercisable within 60 days of February 13, 2013. In connection with the
      restructuring in December 2012, Mr. Cooper separated employment from the
      Company.</FONT></TD></TR>
  <TR>
    <TD colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top align=right><FONT face="Times New Roman" size=2>(13)</FONT></TD>
    <TD vAlign=top align=right></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Consists of 87,500 shares
      issuable upon the exercise of outstanding options held by Andrew J.
      Grethlein exercisable within 60 days of February 13, 2013. Dr. Grethlein
      joined the Company in September 2012.</FONT></TD></TR>
  <TR>
    <TD colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top align=right><FONT face="Times New Roman" size=2>(14)</FONT></TD>
    <TD vAlign=top align=right></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Consists of 94,796 shares held
      directly by Stephen M. Kelsey, 386,875 shares held under unvested
      restricted stock awards and 396,667 shares issuable upon the exercise of
      outstanding options held by Dr. Kelsey exercisable within 60 days of
      February 13, 2013.</FONT></TD></TR>
  <TR>
    <TD colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top align=right><FONT face="Times New Roman" size=2>(15)</FONT></TD>
    <TD vAlign=top align=right></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Consists of 14,645 shares held
      directly by Stephen N. Rosenfield and 210,272 shares issuable upon the
      exercise of outstanding options held by Mr. Rosenfield exercisable within
      60 days of February 13, 2013. Mr. Rosenfield joined the Company in
      February 2012.</FONT></TD></TR>
  <TR>
    <TD colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top align=right><FONT face="Times New Roman" size=2>(16)</FONT></TD>
    <TD vAlign=top align=right></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>Consists of 75,000 shares held by
      the John A. Scarlett III 1999 Trust and 536,042 shares issuable upon
      exercise of outstanding options held by Dr. Scarlett exercisable within 60
      days of February 13, 2013.</FONT></TD></TR>
  <TR>
    <TD colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top align=right><FONT face="Times New Roman" size=2>(17)</FONT></TD>
    <TD vAlign=top align=right></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>The indicated ownership is based
      solely on a Schedule 13G/A filed with the SEC by BlackRock, Inc. on
      February 8, 2013, reporting beneficial ownership as of December 31, 2012.
      The Schedule 13G/A filed by the reporting person provides information only
      as of December 31, 2012, and, consequently, the beneficial ownership of
      the above-mentioned reporting person may have changed between December 31,
      2012 and February 13, 2013.</FONT></TD></TR>
  <TR>
    <TD colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top align=right><FONT face="Times New Roman" size=2>(18)</FONT></TD>
    <TD vAlign=top align=right></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>The indicated ownership is based
      on a Schedule 13G filed with the SEC by the reporting person on February
      13, 2013, reporting beneficial ownership as of December 31, 2012.
      According to the Schedule 13G, The Vanguard Group has sole voting power
      with respect to 199,219 shares, sole dispositive power with respect to
      7,060,863 shares and shared dispositive power with respect to 192,919
      shares. The Schedule 13G filed by the reporting person provides
      information only as of December 31, 2012, and, consequently, the
      beneficial ownership of the above-mentioned reporting person may have
      changed between December 31, 2012 and February 13,
  2013.</FONT></TD></TR></TABLE>
<P align=center><FONT face="Times New Roman" size=2>57</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2><A HREF="#toc">Table of Contents</A></font></P>
<P align=center><B><FONT face="Times New Roman" size=2><A NAME="certaintrans"></A>CERTAIN TRANSACTIONS </FONT></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>There has not
been, nor is there currently proposed, any transaction or series of similar
transactions to which the Company was or is to be a party in which the amount
involved exceeds $120,000 and in which any current director, executive officer,
holder of more than 5% of our Common Stock or any immediate family member of any
of the foregoing persons had or will have a direct or indirect material interest
other than compensation arrangements, described under the sections entitled
&#147;Executive Compensation Tables&#148; and &#147;Compensation of Directors,&#148; other than with
respect to the indemnification agreements described below.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>We have entered into indemnity agreements with all of our officers and
directors which provide, among other things, that we will indemnify such
executive officer or director, under the circumstances and to the extent
provided for therein, for expenses, damages, judgments, fines, settlements he or
she may be required to pay in actions or proceedings which he or she is or may
be made a party by reason for his or her position as a director, officer or
other agent of the Company, and otherwise to the full extent permitted under
Delaware law and our Bylaws.</FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>Policies and Procedures
</FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Our Audit Committee is responsible for reviewing and approving, in
advance, all related party transactions, which would include a transaction,
arrangement or relationship (or any series of similar transactions, arrangements
or relationships) in which we and any &#147;related person&#148; are participants
involving an amount that exceeds $120,000, not including transactions involving
compensation for services provided to Geron as an employee, director, consultant
or similar capacity by a related person. Related parties include any of our
directors or executive officers, certain of our stockholders and their immediate
family members. This obligation is set forth in writing in the Audit Committee
charter. A copy of the Audit Committee charter is available on our website at
www.geron.com in the Investor Relations section under &#147;Corporate Governance.&#148;
</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Where a transaction has been identified as a related-person transaction,
management would present information regarding the proposed related-person
transaction to the Audit Committee (or, where Audit Committee approval would be
inappropriate, to another independent body of the Board) for consideration and
approval or ratification. The presentation would include a description of, among
other things, the material facts, the interests, direct and indirect, of the
related persons, the benefits to Geron of the transaction and whether any
alternative transactions were available. To identify related-person transactions
in advance, the Audit Committee relies on information supplied by Geron&#146;s
executive officers and directors. In considering related-person transactions,
the Audit Committee takes into account the relevant available facts and
circumstances including, but not limited to (a) the risks, costs and benefits to
Geron, (b) the impact on a director&#146;s independence in the event the related
person is a director, immediate family member of a director or an entity with
which a director is affiliated, (c) the terms of the transaction, (d) the
availability of other sources for comparable services or products and (e) the
terms available to or from, as the case may be, unrelated third parties or to or
from employees generally. In the event a director has an interest in the
proposed transaction, the director must recuse himself or herself from the
deliberations and approval. In determining whether to approve, ratify or reject
a related-person transaction, the Audit Committee considers, in light of known
circumstances, whether the transaction is in, or is not inconsistent with, the
best interests of Geron and our stockholders, as the Audit Committee determines
in the good faith exercise of its discretion.</FONT></P>
<P align=center><B><FONT face="Times New Roman" size=2><A NAME="othermatters"></A>OTHER MATTERS</FONT></B></P>
<P align=justify><B><FONT face="Times New Roman" size=2>Section 16(a) Beneficial Ownership
Reporting Compliance </FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Section 16(a) of the Exchange Act requires our directors and executive
officers, and persons who beneficially own more than 10% of a registered class
of our equity securities (collectively, &#147;Reporting Persons&#148;), to file with the
SEC initial reports of ownership and reports of changes in ownership of Geron
Common Stock and other equity securities. Reporting Persons are required by SEC
regulations to furnish us with copies of all Section 16(a) forms they
file.</FONT></P>
<P align=center><FONT face="Times New Roman" size=2>58</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2><A HREF="#toc">Table of Contents</A></font></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>To our
knowledge, based solely upon a review of the copies of such reports furnished to
us and written representations from such directors, executive officers and
stockholders that no other reports were required, we believe that during fiscal
year ended December 31, 2012, all Reporting Persons complied with the applicable
Section 16(a) reporting requirements.</FONT></P>
<P align=justify><B><FONT face="Times New Roman" size=2>Stockholder Nominations and
Proposals for 2014 Annual Meeting </FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>We expect to hold our 2014 Annual Meeting of Stockholders in May 2014.
All proposals or director nominations of stockholders intended to be presented
at the 2014 Annual Meeting of Stockholders must be directed to the attention of
our Corporate Secretary, at the address set forth on the first page of this
Proxy Statement.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If you wish to bring a proposal before the stockholders or nominate a
director at the 2014 Annual Meeting of Stockholders, but you are not requesting
that your proposal or nomination be included in next year&#146;s proxy materials, you
must notify our Corporate Secretary, in writing, not earlier than the close of
business on January 22, 2014 and not later than the close of business on
February 21, 2014. However, if the 2014 Annual Meeting of Stockholders is not
held between April 22, 2014 and July 21, 2014, the notice must be delivered no
later than the 90<SUP>th</SUP> day prior to the 2014 Annual Meeting of
Stockholders or, if later, the 10<SUP>th</SUP> day following the day on which
public disclosure of the date of the 2014 Annual Meeting of Stockholders was
made. In addition, our Bylaws provide that the stockholder&#146;s notice must include
certain information for the person making the proposal or the nomination for
director, including:</FONT></P>
<UL style="text-align: justify; FONT-SIZE: 10pt"><LI><FONT face="Times New Roman" size=2>name and address;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>the class and number of shares of the Company,
  owned of record or beneficially owned;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>any derivative, swap or other transaction which
  gives economic risk similar to ownership of shares of</FONT> <FONT face="Times New Roman" size=2>the Company;</FONT> <BR>&nbsp;
  </LI><LI><FONT face="Times New Roman" size=2>any proxy, agreement, arrangement, understanding
  or relationship that confers a right to vote any</FONT> <FONT face="Times New Roman" size=2>shares of the Company;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>any agreement, arrangement, understanding or
  relationship, engaged in to increase or decrease the</FONT> <FONT face="Times New Roman" size=2>level of risk related to, the voting power with respect to, and certain
  other arrangements or agreements</FONT> <FONT face="Times New Roman" size=2>with respect
  to, shares of the Company;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>any performance-related fees that the
  proposing/nominating person is entitled, based on any increase</FONT> <FONT face="Times New Roman" size=2>or decrease in the value of any shares of the Company;
  and<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>any other information required by the SEC to be
  disclosed in a proxy statement or certain other filings.</FONT> </LI></UL>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The stockholder&#146;s notice must also include information for each proposed
director nominee, including: </FONT></P>
<UL style="text-align: justify; FONT-SIZE: 10pt"><LI><FONT face="Times New Roman" size=2>the same information as for the nominating person
  set forth above;<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>all information required to be disclosed in a
  proxy statement in connection with election of directors;</FONT> <FONT face="Times New Roman" size=2>and<BR>&nbsp;</FONT>
  </LI><LI><FONT face="Times New Roman" size=2>financial or other relationships between the
  nominating person and the nominee during the past three</FONT> <FONT face="Times New Roman" size=2>years.</FONT> </LI></UL>
<P align=justify><FONT face="Times New Roman" size=2>Copies of our Bylaws may be obtained
from our Corporate Secretary.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Stockholders who wish to submit a proposed nominee for election to the
Board should send written notice to the Nominating and Corporate Governance
Committee Chairman, Geron Corporation, 149 Commonwealth Drive, Suite 2070, Menlo
Park, CA 94025, within the time periods set forth above. Such notification
should set forth all information relating to such nominee as is required to be
disclosed in solicitations of proxies for elections of directors pursuant to
Regulation 14A under the Exchange Act, including such person&#146;s written consent
to being named in a proxy statement as a nominee and to serving as a director if
elected, the name and address of such stockholder or beneficial owner on whose
behalf the nomination is being made, the class and number of shares of the
Company, owned beneficially and of record by such stockholder or beneficial
owner, and all information regarding the nominee that would be required to be
included in the Company&#146;s proxy statement by the rules of </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>59</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
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<P align=justify><FONT face="Times New Roman" size=2>the SEC, including the nominee&#146;s age,
business experience for the past five years and any directorships held by the
nominee during the past five years. The Nominating and Corporate Governance
Committee will consider stockholder nominees on the same terms as nominees
selected by the Nominating and Corporate Governance Committee.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>The Nominating
and Corporate Governance Committee believes that nominees for election to the
Board must possess certain minimum qualifications and attributes. The nominee:
1) must meet the objective independence requirements set forth by the SEC and
NASDAQ, 2) must exhibit strong personal integrity, character and ethics, and a
commitment to ethical business and accounting practices, 3) must not be involved
in on-going litigation with the Company or be employed by an entity which is
engaged in such litigation and 4) must not be the subject of any on-going
criminal investigations, including investigations for fraud or financial
misconduct. In addition, the Nominating and Corporate Governance Committee may
consider the following criteria, among others: </FONT></P>
<TABLE style="TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(i)</FONT></TD>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>experience in corporate
      management, such as serving as an officer or former officer of a publicly
      held company, and a general understanding of marketing, finance and other
      elements relevant to the success of a publicly traded company in today&#146;s
      business environment;</FONT></TD></TR>
  <TR>
    <TD></TD>
    <TD colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(ii)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>experience in our industry and
      with relevant social policy concerns;</FONT></TD></TR>
  <TR>
    <TD></TD>
    <TD colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(iii)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>experience as a board member of
      other publicly held companies;</FONT></TD></TR>
  <TR>
    <TD></TD>
    <TD colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(iv)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>expertise in an area of our
      operations; and</FONT></TD></TR>
  <TR>
    <TD></TD>
    <TD colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top noWrap><FONT face="Times New Roman" size=2>(v)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD width="100%"><FONT face="Times New Roman" size=2>practical and mature business
      judgment, including the ability to make independent analytical
      inquiries.</FONT></TD></TR></TABLE>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Nominating and Corporate Governance Committee does not specifically
consider diversity in identifying nominees for election as a director. However,
specific experience or expertise that could assist Geron in developing our
clinical product opportunities provides added value and insight to the Board. In
general, the Nominating and Corporate Governance Committee aspires the Board to
be comprised of individuals that represent a diversity of professional
experience, perspective and experience, and who portray characteristics of
diligence, commitment, mutual respect and professionalism with an emphasis on
consensus building. The Board does not follow any ratio or formula to determine
the appropriate mix. Rather, it uses its judgment to identify nominees whose
backgrounds, attributes and experiences, taken as a whole, will contribute to
the high standards of board service at Geron. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Directors are expected to rigorously prepare for, attend and participate
in Board meetings and meetings of the Committees of the Board on which they
serve, to ask direct questions and require straight answers, and to spend the
time needed and meet as frequently as necessary to properly discharge their
responsibilities and duties as directors. Each Board member is expected to
ensure that other existing and planned future commitments do not materially
interfere with the member&#146;s service as an outstanding director.</FONT></P>
<DIV align=right>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="50%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="100%"><FONT face="Times New Roman" size=2>By Order of the Board of
      Directors,</FONT></TD></TR>
  <TR>
    <TD noWrap align=left width="100%"><IMG src="geron_def14a6x10x1.jpg" border=0></TD></TR>
  <TR>
    <TD noWrap align=left width="100%">
      <P align=justify><FONT face="Times New Roman" size=2>Stephen N.
      Rosenfield<BR></FONT><I><FONT face="Times New Roman" size=2>Executive Vice President,
      General Counsel<BR>and Corporate
Secretary</FONT></I></P></TD></TR></TABLE></DIV><BR>
<P align=justify><FONT face="Times New Roman" size=2>April 5, 2013 </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>60</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>
<P align=left><FONT face="Times New Roman" size=2><A HREF="#toc">Table of Contents</A></font></P><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR>
<DIV align=center><IMG src="geron_def14a6x11x1.jpg" border=0></DIV><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2><A href="#toc">Table of
Contents</A></FONT></P>
<DIV style="PADDING-RIGHT: 0.25in; PADDING-LEFT: 0.25in; PADDING-BOTTOM: 5%; WIDTH: 100%">
<TABLE style="FONT-SIZE: 10pt; FLOAT: left; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 width="20%" border=0>

  <TR>
    <TD width="100%"><IMG src="proxycardx1x1.jpg" border=0></TD></TR>
  <TR>
    <TD noWrap width="100%">
      <P align=justify><B><I><FONT face="Times New Roman" size=2>GERON
      CORPORATION<BR>C/O COMPUTERSHARE<BR>350 INDIANA ST., SUITE 750<BR>GOLDEN,
      CO 80401 </FONT></I></B></P></TD></TR></TABLE>
<TABLE style="FONT-SIZE: 8pt; FLOAT: right; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse; TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 width="55%" border=0>

  <TR vAlign=bottom>
    <TD width="100%"><FONT style="DISPLAY: inline; FONT-WEIGHT: bold">VOTE BY
      INTERNET - <FONT style="DISPLAY: inline; TEXT-DECORATION: underline">www.proxyvote.com</FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD width="100%">Use the Internet to transmit your voting instructions and
      for electronic delivery of information up until 11:59 p.m. Eastern Time
      the day before the cut-off date or meeting date. Have your proxy card in
      hand when you access the web site and follow the instructions to obtain
      your records and to create an electronic voting instruction form.</TD></TR>
  <TR>
    <TD width="100%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD width="100%"><FONT style="DISPLAY: inline; FONT-WEIGHT: bold">VOTE BY
      PHONE - 1-800-690-6903</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD width="100%">Use any touch-tone telephone to transmit your voting
      instructions up until 11:59 p.m. Eastern Time the day before the cut-off
      date or meeting date. Have your proxy card in hand when you call and then
      follow the instructions.</TD></TR>
  <TR>
    <TD width="100%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD width="100%"><FONT style="DISPLAY: inline; FONT-WEIGHT: bold">VOTE BY
      MAIL</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD width="100%">Mark, sign and date your proxy card and return it in the
      postage-paid envelope we have provided or return it to Vote Processing,
      c/o Broadridge, 51 Mercedes Way, Edgewood, NY 11717.</TD></TR>
  <TR>
    <TD width="100%">&nbsp;</TD></TR>
  <TR>
    <TD width="100%">&nbsp;</TD></TR>
  <TR>
    <TD width="100%">&nbsp;</TD></TR>
  <TR>
    <TD width="100%">&nbsp;</TD></TR>
  <TR>
    <TD width="100%">&nbsp;</TD></TR></TABLE></DIV><BR clear=all>&nbsp;<BR><BR><BR><BR><BR><BR>
<DIV>
<TABLE style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt dashed" noWrap align=left width="71%">TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS
      FOLLOWS:&nbsp;<FONT face=Wingdings size=2>x</FONT><BR>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt dashed" noWrap align=left width="1%">M57902-P36515</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt dashed" noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt dashed" noWrap align=right width="26%">KEEP THIS PORTION FOR YOUR RECORDS</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="73%" colSpan=3>&nbsp;</TD>
    <TD noWrap align=right width="26%">DETACH AND RETURN THIS PORTION
  ONLY</TD></TR>
  <TR>
    <TD style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: center" noWrap width="99%" colSpan=4><FONT style="DISPLAY: inline; FONT-WEIGHT: bold">THIS PROXY CARD IS VALID ONLY
      WHEN SIGNED AND DATED.</FONT></TD></TR></TABLE></DIV>
<DIV style="BORDER-RIGHT: #000000 2.25pt solid; PADDING-RIGHT: 4pt; BORDER-TOP: #000000 2.25pt solid; PADDING-LEFT: 4pt; FONT-SIZE: 8pt; PADDING-BOTTOM: 4pt; BORDER-LEFT: #000000 2.25pt solid; WIDTH: 100%; PADDING-TOP: 4pt; BORDER-BOTTOM: #000000 2.25pt solid; FONT-FAMILY: Times New Roman; TEXT-ALIGN: justify">
<TABLE style="FONT-SIZE: 8pt; FLOAT: left; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse; TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 width="53%" border=0>

  <TR>
    <TD vAlign=top width="88%" colSpan=4><STRONG>GERON CORPORATION</STRONG></TD>
    <TD vAlign=top noWrap width="1%"></TD>
    <TD vAlign=top noWrap width="3%"></TD>
    <TD vAlign=top noWrap width="4%"></TD>
    <TD vAlign=top noWrap width="4%"></TD></TR>
  <TR>
    <TD vAlign=top width="88%" colSpan=4>&nbsp; </TD>
    <TD vAlign=top noWrap width="1%"></TD>
    <TD vAlign=top noWrap width="3%"></TD>
    <TD vAlign=top noWrap width="4%"></TD>
    <TD vAlign=top noWrap width="4%"></TD></TR>
  <TR>
    <TD vAlign=top width="1%"></TD>
    <TD vAlign=top width="87%" colSpan=3><STRONG>The Board of Directors
      recommends you vote FOR the following:</STRONG></TD>
    <TD vAlign=top noWrap width="1%"></TD>
    <TD vAlign=top noWrap align=center width="3%"><STRONG>For<BR>All</STRONG></TD>
    <TD vAlign=top noWrap align=center width="4%"><STRONG>Withhold<BR>All</STRONG></TD>
    <TD vAlign=top noWrap align=center width="4%"><STRONG>For
      All<BR>Except</STRONG></TD></TR>
  <TR>
    <TD style="TEXT-ALIGN: center" vAlign=top width="1%">&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" vAlign=top width="87%" colSpan=3>&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" vAlign=top noWrap width="1%">&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" vAlign=top noWrap width="3%"><FONT style="DISPLAY: inline; FONT-WEIGHT: bold"></FONT></TD>
    <TD style="TEXT-ALIGN: center" vAlign=top noWrap width="4%"><FONT style="DISPLAY: inline; FONT-WEIGHT: bold"></FONT></TD>
    <TD style="TEXT-ALIGN: center" vAlign=top noWrap width="4%"><FONT style="DISPLAY: inline; FONT-WEIGHT: bold"></FONT></TD></TR>
  <TR>
    <TD vAlign=top width="1%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD vAlign=top width="1%">1.&nbsp;&nbsp;&nbsp;</TD>
    <TD vAlign=top width="86%" colSpan=2>To elect the two nominees for
      director named below to hold office as a Class II member of the Board of
      Directors until the 2016 annual meeting of stockholders.</TD>
    <TD vAlign=top width="1%">&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" vAlign=top width="3%"><FONT style="FONT-FAMILY: wingdings" size=2>o</FONT></TD>
    <TD style="TEXT-ALIGN: center" vAlign=top width="4%"><FONT style="FONT-FAMILY: wingdings" size=2>o</FONT></TD>
    <TD style="TEXT-ALIGN: center" vAlign=top width="4%"><FONT style="FONT-FAMILY: wingdings" size=2>o</FONT></TD></TR>
  <TR>
    <TD vAlign=top width="1%"></TD>
    <TD vAlign=top width="1%"></TD>
    <TD vAlign=top width="86%" colSpan=2></TD>
    <TD vAlign=top width="1%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD vAlign=top width="3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </TD>
    <TD vAlign=top width="4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </TD>
    <TD vAlign=top width="4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap width="1%">&nbsp;</TD>
    <TD noWrap width="1%">&nbsp;</TD>
    <TD noWrap width="98%" colSpan=6><FONT style="DISPLAY: inline; FONT-WEIGHT: bold">Nominees:</FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap align=right width="1%">&nbsp;</TD>
    <TD noWrap align=right width="1%">&nbsp;</TD>
    <TD noWrap align=left width="1%">01)&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap width="97%" colSpan=5>Hoyoung Huh, M.D., Ph.D.</TD></TR>
  <TR>
    <TD vAlign=top noWrap align=right width="1%">&nbsp;</TD>
    <TD noWrap align=right width="1%">&nbsp;</TD>
    <TD noWrap align=left width="1%">02)</TD>
    <TD noWrap width="97%" colSpan=5>Daniel M. Bradbury</TD></TR></TABLE>
<TABLE style="FONT-SIZE: 8pt; FLOAT: right; WIDTH: 45%; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse; TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD vAlign=top width="64%">&nbsp; </TD>
    <TD vAlign=top noWrap width="20%"></TD>
    <TD vAlign=top noWrap width="15%"></TD></TR>
  <TR>
    <TD vAlign=top width="64%">&nbsp; </TD>
    <TD vAlign=top noWrap width="20%"></TD>
    <TD vAlign=top noWrap width="15%"></TD>
    <TD vAlign=top noWrap width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" vAlign=top width="64%" rowSpan=2>To withhold authority to vote for any individual nominee(s),
      mark &#147;For All Except&#148; and write the number(s) of the nominee(s) on the
      line below.<BR><BR><BR></TD>
    <TD vAlign=top noWrap width="20%">&nbsp;</TD>
    <TD vAlign=top noWrap width="15%">&nbsp;</TD>
    <TD vAlign=top noWrap width="1%" rowSpan=2>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap align=right width="20%">&nbsp;</TD>
    <TD vAlign=top noWrap align=right width="15%">
      <DIV style="BORDER-RIGHT: #000000 2.25pt solid; BORDER-TOP: #000000 2.25pt solid; WIDTH: 0.4in; HEIGHT: 0.4in">&nbsp;&nbsp;</DIV></TD></TR></TABLE>
<TABLE style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse; TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD width="1%">&nbsp;</TD>
    <TD width="99%" colSpan=6>&nbsp;</TD></TR>
  <TR>
    <TD noWrap width="1%">&nbsp;</TD>
    <TD vAlign=top width="93%" colSpan=2><STRONG>The Board of Directors
      recommends you vote FOR proposals 2, 3 and 4.</STRONG></TD>
    <TD noWrap width="3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="PADDING-RIGHT: 4pt; PADDING-LEFT: 4pt; TEXT-ALIGN: center" noWrap width="1%"><FONT style="DISPLAY: inline; FONT-WEIGHT: bold">For</FONT></TD>
    <TD style="PADDING-RIGHT: 4pt; PADDING-LEFT: 4pt; TEXT-ALIGN: center" noWrap width="1%"><FONT style="DISPLAY: inline; FONT-WEIGHT: bold">Against</FONT></TD>
    <TD style="PADDING-RIGHT: 4pt; PADDING-LEFT: 4pt; TEXT-ALIGN: center" noWrap width="1%"><FONT style="DISPLAY: inline; FONT-WEIGHT: bold">Abstain</FONT></TD></TR>
  <TR>
    <TD noWrap width="1%">&nbsp;</TD>
    <TD vAlign=top noWrap width="1%">&nbsp;</TD>
    <TD vAlign=top width="92%">&nbsp;</TD>
    <TD vAlign=top noWrap width="3%">&nbsp;</TD>
    <TD vAlign=top noWrap width="1%">&nbsp;</TD>
    <TD vAlign=top noWrap width="1%">&nbsp;</TD>
    <TD vAlign=top noWrap width="1%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap width="1%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD vAlign=top noWrap width="1%">2.&nbsp;&nbsp;&nbsp;</TD>
    <TD vAlign=top width="92%">To approve, on an advisory basis, the
      compensation of the Company's named executive officers.</TD>
    <TD vAlign=top noWrap width="3%">&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" vAlign=top noWrap width="1%"><FONT style="FONT-FAMILY: wingdings" size=2>o</FONT></TD>
    <TD style="TEXT-ALIGN: center" vAlign=top noWrap width="1%"><FONT style="FONT-FAMILY: wingdings" size=2>o</FONT></TD>
    <TD style="TEXT-ALIGN: center" vAlign=top noWrap width="1%"><FONT style="FONT-FAMILY: wingdings" size=2>o</FONT></TD></TR>
  <TR>
    <TD noWrap width="1%">&nbsp;</TD>
    <TD vAlign=top noWrap width="1%">&nbsp;</TD>
    <TD vAlign=top width="92%">&nbsp;</TD>
    <TD vAlign=top noWrap width="3%">&nbsp;</TD>
    <TD vAlign=top noWrap width="1%">&nbsp;</TD>
    <TD vAlign=top noWrap width="1%">&nbsp;</TD>
    <TD vAlign=top noWrap width="1%">&nbsp;</TD></TR>
  <TR>
    <TD noWrap width="1%">&nbsp;</TD>
    <TD vAlign=top noWrap width="1%">3.</TD>
    <TD vAlign=top width="92%">To ratify appointment of Ernst &amp; Young LLP
      as the Company's independent registered public accounting firm for the
      fiscal year ending December 31, 2013.</TD>
    <TD style="TEXT-ALIGN: center" vAlign=top noWrap width="3%">&nbsp;</TD>
    <TD style="TEXT-ALIGN: center" vAlign=top noWrap width="1%"><FONT style="FONT-FAMILY: wingdings" size=2>o</FONT></TD>
    <TD style="TEXT-ALIGN: center" vAlign=top noWrap width="1%"><FONT style="FONT-FAMILY: wingdings" size=2>o</FONT></TD>
    <TD style="TEXT-ALIGN: center" vAlign=top noWrap width="1%"><FONT style="FONT-FAMILY: wingdings" size=2>o</FONT></TD></TR>
  <TR>
    <TD noWrap width="1%"></TD>
    <TD vAlign=top noWrap width="1%">&nbsp;</TD>
    <TD vAlign=top width="92%">&nbsp;</TD>
    <TD vAlign=top noWrap width="3%"></TD>
    <TD vAlign=top noWrap width="1%"></TD>
    <TD vAlign=top noWrap width="1%"></TD>
    <TD vAlign=top noWrap width="1%"></TD></TR>
  <TR>
    <TD noWrap width="1%"></TD>
    <TD vAlign=top noWrap width="1%">4.</TD>
    <TD vAlign=top width="92%">As said proxies deem advisable, on such other
      matters as may come before the meeting and any adjournment(s) or
      postponement(s) thereof.</TD>
    <TD vAlign=top noWrap width="3%"></TD>
    <TD vAlign=top noWrap align=center width="1%"><FONT face=Wingdings size=2>o</FONT></TD>
    <TD vAlign=top noWrap align=center width="1%"><FONT face=Wingdings size=2>o</FONT></TD>
    <TD vAlign=top noWrap align=center width="1%"><FONT face=Wingdings size=2>o</FONT></TD></TR>
  <TR>
    <TD noWrap width="1%">&nbsp;</TD>
    <TD vAlign=top noWrap width="1%">&nbsp;</TD>
    <TD vAlign=top width="92%">&nbsp;</TD>
    <TD vAlign=top noWrap width="3%">&nbsp;</TD>
    <TD vAlign=top noWrap width="1%">&nbsp;</TD>
    <TD vAlign=top noWrap width="1%">&nbsp;</TD>
    <TD vAlign=top noWrap width="1%">&nbsp;</TD></TR>
  <TR>
    <TD noWrap width="1%">&nbsp;</TD>
    <TD vAlign=top width="93%" colSpan=2><STRONG>NOTE:</STRONG> This proxy
      should be marked, dated and signed by the stockholder(s) exactly as his or
      her name appear(s) hereon, and returned in the enclosed envelope.</TD>
    <TD vAlign=top noWrap width="3%">&nbsp;</TD>
    <TD vAlign=top noWrap width="1%">&nbsp;</TD>
    <TD vAlign=top noWrap width="1%">&nbsp;</TD>
    <TD vAlign=top noWrap width="1%">&nbsp;</TD></TR></TABLE><BR><BR><BR><BR><BR><BR><BR><BR>
<TABLE style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse; TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 width="48%" border=0>

  <TR>
    <TD noWrap align=left width="2%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="PADDING-RIGHT: 8pt" vAlign=top align=justify width="97%">Please
      sign exactly as your name(s) appear(s) hereon. When signing as attorney,
      executor, administrator, or other fiduciary, please give full title as
      such. Joint owners should each sign personally. All holders must sign. If
      a corporation or partnership, please sign in full corporate or partnership
      name by an authorized officer.</TD></TR></TABLE>
<TABLE style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse; TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD width="1%">&nbsp;</TD>
    <TD width="48%" colSpan=3>&nbsp;</TD>
    <TD noWrap width="1%">&nbsp;</TD>
    <TD width="49%" colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD width="1%">&nbsp;</TD>
    <TD width="48%" colSpan=3>&nbsp;&nbsp;</TD>
    <TD noWrap width="1%">&nbsp;</TD>
    <TD width="49%" colSpan=3>&nbsp;</TD></TR>
  <TR style="HEIGHT: 20pt">
    <TD width="1%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; PADDING-LEFT: 2.5in; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1.25pt solid" width="1%"><BR></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; PADDING-LEFT: 0.5in; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1.25pt solid" width="1%">&nbsp;</TD>
    <TD width="46%">&nbsp;</TD>
    <TD style="PADDING-LEFT: 2%" noWrap width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; PADDING-LEFT: 2.5in; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1.25pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; PADDING-LEFT: 0.5in; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1.25pt solid" width="1%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD></TR>
  <TR>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">Signature [PLEASE SIGN WITHIN BOX]</TD>
    <TD width="1%">Date</TD>
    <TD width="46%">&nbsp;</TD>
    <TD noWrap width="1%">&nbsp;</TD>
    <TD width="1%">Signature (Joint Owners)</TD>
    <TD width="1%">Date</TD>
    <TD width="47%">&nbsp;</TD></TR></TABLE></DIV>&nbsp;
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><FONT face="Times New Roman" size=2><A href="#toc">Table of
Contents</A></FONT></P><BR><BR><BR><BR><BR><BR><BR><BR>
<P align=center><B><FONT face="Times New Roman" size=2>Important Notice
Regarding the Availability of Proxy Materials for the Annual
Meeting:<BR></FONT></B><FONT face="Times New Roman" size=2>Letter to
Stockholders, Notice and 2013 Proxy Statement and 2012 Annual Report on Form
10-K <BR>are available at
<U>www.proxyvote.com</U>.</FONT></P><BR><BR><BR><BR><BR><BR><BR><BR>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-TOP: #000000 1pt dashed" noWrap align=right width="100%"><FONT face="Times New Roman" size=1>M57903-P36515&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;
  </FONT></TD></TR></TABLE>
<DIV style="BORDER-RIGHT: black 2pt solid; PADDING-RIGHT: 15pt; BORDER-TOP: black 2pt solid; PADDING-LEFT: 15pt; BORDER-LEFT: black 2pt solid; WIDTH: 100%; BORDER-BOTTOM: black 2pt solid"><BR><BR>
<P align=center><B><FONT face="Times New Roman" size=2>THIS PROXY IS SOLICITED
ON BEHALF OF THE BOARD OF DIRECTORS</FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2>GERON
CORPORATION<BR></FONT></B><B><FONT face="Times New Roman" size=2>2013 ANNUAL
MEETING OF STOCKHOLDERS<BR>TO BE HELD ON MAY 22, 2013</FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2>The undersigned stockholder
of Geron Corporation, a Delaware corporation (the "Company"), hereby
acknowledges receipt of the Notice of Annual Meeting of Stockholders and Proxy
Statement, each dated April 5, 2013, and hereby appoints John A. Scarlett, M.D.,
and Stephen N. Rosenfield, or either of them, as proxies and attorneys-in-fact
with full power to each of substitution, on behalf and in the name of the
undersigned to represent the undersigned at the 2013 Annual Meeting of
Stockholders of Geron Corporation to be held on May 22, 2013, at 2:00 p.m.
Pacific Daylight Time at the Hyatt Regency Burlingame, 1333 Bayshore Highway,
Burlingame, CA 94010 and at any adjournment(s) or postponement(s) thereof, and
to vote all shares of Common Stock that the undersigned would be entitled to
vote if then and there personally present, on the matters set forth on the
reverse side, and in their discretion, upon such other matter or matters that
may properly come before the meeting and any adjournment(s) or postponement(s)
thereof.</FONT></P>
<P align=justify><FONT face="Times New Roman" size=2><STRONG>This proxy will be
voted as directed or, if no contrary direction is indicated, will be voted as
follows:</STRONG></FONT></P>
<UL style="MARGIN-LEFT: 16px; TEXT-ALIGN: justify">
  <LI><FONT face="Times New Roman" size=2><STRONG>"FOR" the election of the two
  nominees for director named in the accompanying Proxy Statement to hold office
  as a Class II member of the Board of Directors until the 2016 annual meeting
  of stockholders;</STRONG></FONT></LI>
  <LI><FONT face="Times New Roman" size=2><STRONG>"FOR" proposal 2, to approve,
  on an advisory basis, the compensation of the Company's named executive
  officers, as disclosed in the accompanying Proxy Statement;</STRONG></FONT></LI>
  <LI><FONT face="Times New Roman" size=2><STRONG>"FOR" proposal 3, to ratify
  the selection by the Audit Committee of the Board of Directors of the
  appointment of Ernst &amp; Young LLP as the Company's independent registered
  public accounting firm for the fiscal year ending December 31,
  2013;</STRONG></FONT> </LI></UL>
<P align=justify><FONT face="Times New Roman" size=2>and as said proxies deem
advisable on such other matters as may come before the meeting and any
adjournment(s) or postponement(s) thereof.</FONT></P>
<P align=center><B><FONT face="Times New Roman" size=2></FONT></B>&nbsp;</P>
<P align=center><B><FONT face="Times New Roman" size=2>(CONTINUED AND TO BE
SIGNED ON REVERSE SIDE)<BR></FONT>&nbsp;</B></P></DIV><BR>
<HR align=center width="100%" noShade SIZE=2>



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