<SUBMISSION>
<ACCESSION-NUMBER>0001193125-08-259619
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>4
<PERIOD>20081219
<ITEMS>5.02
<ITEMS>9.01
<FILING-DATE>20081223
<DATE-OF-FILING-DATE-CHANGE>20081223
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>CERUS CORP
<CIK>0001020214
<ASSIGNED-SIC>3841
<IRS-NUMBER>680262011
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>000-21937
<FILM-NUMBER>081267889
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>2411 STANWELL DR
<CITY>CONCORD
<STATE>CA
<ZIP>94520
<PHONE>9252886000
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>2525 STANWELL DRIVE
<STREET2>STE 300
<CITY>CONCORD
<STATE>CA
<ZIP>94520
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>CERUS TECHNOLOGIES INC
<DATE-CHANGED>19960731
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML><HEAD>
<TITLE>Form 8-K</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">
 <P STYLE="line-height:0px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #000000">&nbsp;</P> <P
STYLE="line-height:3px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P> <P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="4"><B>UNITED STATES </B></FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="4"><B>SECURITIES AND EXCHANGE COMMISSION </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman"
SIZE="3"><B>Washington, D.C. 20549 </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="5"><B>FORM 8-K </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="3"><B>CURRENT REPORT </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="3"><B>Pursuant to Section&nbsp;13 or 15(d) of the </B></FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="3"><B>Securities Exchange Act of 1934 </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">Date
of Report (Date of earliest event reported): December&nbsp;19, 2008 </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="6"><B>CERUS CORPORATION </B></FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>(Exact name of registrant as specified in its charter) </B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="32%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
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<TD VALIGN="top" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>Delaware</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>0-21937</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>68-0262011</B></FONT></TD></TR>
<TR>
<TD VALIGN="top" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>(State of jurisdiction)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>(Commission File No.)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>(IRS Employer Identification No.)</B></FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>2411 Stanwell Drive </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"
ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>Concord, California 94520 </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>(Address of principal executive offices and zip
code) </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">Registrant&#146;s telephone number, including area code: (925)&nbsp;288-6000 </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below): </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"><FONT FACE="WINGDINGS">&#168;</FONT></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </FONT></TD></TR></TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"><FONT FACE="WINGDINGS">&#168;</FONT></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </FONT></TD></TR></TABLE> <P
STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"><FONT FACE="WINGDINGS">&#168;</FONT></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </FONT></TD></TR></TABLE> <P
STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"><FONT FACE="WINGDINGS">&#168;</FONT></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </FONT></TD></TR></TABLE> <P
STYLE="font-size:24px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="line-height:0px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #000000">&nbsp;</P> <P
STYLE="line-height:3px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>

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

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"><B>Item&nbsp;5.02.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2"><B>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. </B></FONT></TD></TR></TABLE>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">On December&nbsp;19, 2008, the Company entered into an amended and restated employment agreement with Claes Glassell solely to clarify the manner in
which his existing employment agreement complies with the final regulations under 409A, including among other things, clarifying the timing and form of all payments. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
FACE="Times New Roman" SIZE="2">On December&nbsp;22, 2008 the Company entered into an amended and restated employment agreement with Howard G. Ervin solely to clarify the manner in which his existing employment agreement complies with the final
regulations under 409A, including among other things, clarifying the timing and form of all payments. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">On December&nbsp;23, 2008 the
Company entered into an amended and restated employment agreement with William J. Dawson solely to clarify the manner in which his existing employment agreement complies with the final regulations under 409A, including among other things, clarifying
the timing and form of all payments. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">The existing employment agreements with each of Mr.&nbsp;Glassell, Mr.&nbsp;Ervin and Mr.&nbsp;Dawson
were amended to provide the following: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">that cash severance payments made following a change of control (as defined therein) shall be made in the form of lump sum payments rather than salary continuation.
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">that a &#147;good reason resignation&#148; shall only occur if (i)&nbsp;the individual notifies the Company in writing within 60 days after the occurrence of the
event constituting &#147;good reason&#148; that he intends to terminate his employment no earlier than 30 days after providing such notice, (ii)&nbsp;the Company does not cure such condition within 30 days following its receipt of such notice or
states in writing that it does not intend to attempt to cure such condition, and (iii)&nbsp;the individual resigns from employment within 30 days following the end of the period within which the Company was entitled to remedy the condition
constituting &#147;good reason&#148; but failed to do so. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">that if any of the severance benefits constitute &#147;deferred compensation&#148; under 409A and the individual is a &#147;specified employee&#148; of the Company
(as such term is defined in 409A) then, solely to the extent necessary to avoid the incurrence of adverse personal tax consequences under 409A, the timing of the payments shall be delayed until the earlier of (i)&nbsp;the date that is six months and
one day after the individual&#146;s separation from service and (ii)&nbsp;the date of the individual&#146;s death. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">In
addition, in the case of Mr.&nbsp;Ervin&#146;s agreement, it was further amended to provide that a &#147;good reason resignation&#148; shall only occur in the event of a material reduction in base salary (rather than any reduction in base salary), a
material adverse change in his job responsibilities (rather than any change in job responsibilities), a material adverse change in his job location (rather than any change in job location) or a material adverse change in his line of reporting
(rather than any change in line of reporting). </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">1. </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">Copies of the above reference amended and restated employment agreements are filed hereto as Exhibits
10.1, 10.2 and 10.3 and are incorporated herein by reference. The foregoing description is subject to, and qualified in its entirety by, the text of the amended and restated employment agreements. </FONT></P> <P
STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"><B>Item&nbsp;9.01.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2"><B>Financial Statements and Exhibits. </B></FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"><B>(d)</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2"><B></B>Exhibits </FONT></TD></TR></TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" ALIGN="center">

<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="94%"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">10.1</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Amended and Restated Employment Agreement, by and between the Company and Claes Glassell, dated December&nbsp;19, 2008.</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">10.2</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Amended and Restated Employment Agreement, by and between the Company and William J. Dawson, dated December 23, 2008.</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">10.3</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Amended and Restated Employment Agreement, by and between the Company and Howard G. Ervin, dated December 22, 2008.</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">2. </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>SIGNATURE </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
FACE="Times New Roman" SIZE="2">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. </FONT></P> <P
STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="46%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="45%"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"><FONT FACE="Times New Roman" SIZE="2"><B>CERUS CORPORATION</B></FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Dated: December&nbsp;23, 2008</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT FACE="Times New Roman" SIZE="2">/s/ William J. Dawson</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">William J. Dawson</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Vice President, Finance and Chief Financial Officer</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">3. </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>EXHIBIT INDEX </B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" ALIGN="center">

<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD WIDTH="92%"></TD></TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1px solid #000000;width:28pt" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>Exhibit<BR>Number</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="border-bottom:1px solid #000000"> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT FACE="Times New Roman" SIZE="1"><B>Description</B></FONT></P></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">10.1</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Amended and Restated Employment Agreement, by and between the Company and Claes Glassell, dated December 19, 2008.</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">10.2</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Amended and Restated Employment Agreement, by and between the Company and William J. Dawson, dated December 23, 2008.</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">10.3</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Amended and Restated Employment Agreement, by and between the Company and Howard G. Ervin, dated December 22, 2008.</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">4. </FONT></P>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>dex101.htm
<DESCRIPTION>AMENDED AND RESTATED EMPLOYMENT AGREEMENT, CLAES GLASSELL
<TEXT>
<HTML><HEAD>
<TITLE>Amended and Restated Employment Agreement, Claes Glassell</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT FACE="Times New Roman" SIZE="2"><B>Exhibit 10.1 </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="2"><B>[CERUS LETTERHEAD] </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">December&nbsp;19, 2008 </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
FACE="Times New Roman" SIZE="2">Mr.&nbsp;Claes Glassell </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">[Home address omitted] </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
FACE="Times New Roman" SIZE="2">Dear Claes, </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">As we discussed, this amended and restated letter agreement (the &#147;Agreement&#148;) sets forth the terms
and conditions of your continued employment with Cerus Corporation (&#147;Cerus&#148; or the &#147;Company&#148;). This Agreement supersedes and replaces the letter agreement dated July&nbsp;12, 2004, which shall have no further force or effect.
</FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>Position, Duties, Reporting Relationship and Board Membership </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT FACE="Times New Roman"
SIZE="2">You will continue to serve in an executive capacity and shall perform the duties of the President and Chief Executive Officer (&#147;CEO&#148;). In this position, you report to the Company&#146;s Board of Directors (the &#147;Board&#148;),
and you have full responsibility for all activities of the Company and are required to undertake the duties and responsibilities assigned to you by the Board. Your overall mandate includes improvement of commercial performance of the Company&#146;s
existing products, completion of clinical trials on new products, and providing vision and focused resources on development and implementation of new applications of the Company&#146;s technologies with the highest potential for success and
profitability. If your employment with the Company terminates for any reason, you agree to tender your resignation as a director of the Board, if requested by the Company, to be effective as of your last day of your employment with the Company or
any earlier date specified by the Company. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>Base Salary and Bonus Compensation </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
FACE="Times New Roman" SIZE="2">Your annual base salary is currently $490,000, less standard payroll deductions and withholdings and paid semi-monthly in accordance with the Company&#146;s normal payroll schedule. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">You are eligible to participate in the Company&#146;s Cash Bonus Plan for Senior Management of Cerus Corporation (the &#147;Bonus Plan&#148;), in accordance with the
terms, conditions and limitations of the plan. Annual bonuses are not guaranteed and such bonuses, if any, are awarded at the sole discretion of the Board based on its assessment of your performance and the Company&#146;s performance with respect to
corporate and personal objectives. As provided in the Bonus Plan, you must remain employed through the date the bonus is paid in order to earn and be eligible to receive a bonus; no pro rata or partial bonuses will be provided. The Board shall have
the sole discretion to change or eliminate the annual bonus program at any time, and to determine the amount of bonus earned, if any. </FONT></P>

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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">The Board may modify your compensation from time to time as it deems necessary. </FONT></P> <P
STYLE="margin-top:18px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>Equity Awards </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">In addition to any equity awards you have previously
received, you shall be eligible to receive additional equity awards under the Company&#146;s 2008 Equity Incentive Plan and various equity incentive and bonus programs that may be approved from time to time by the Board in its sole discretion.
</FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>Employee Benefits and Vacation Accrual Rate </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Subject
to the terms, conditions and limitations of the Company&#146;s benefit plans, you are eligible to participate in Cerus&#146; standard employee benefits plans which include employer-subsidized medical, dental and vision care coverage, long term
disability insurance, life insurance, a 401(k) plan, and Employee Stock Purchase Plan. The Employee Stock Purchase Plan gives employees an opportunity to obtain an equity position in Cerus Corporation at a favorable price. You currently accrue paid
vacation at an annual rate of four (4)&nbsp;weeks per completed year of active employment. Cerus may modify benefits and vacation accrual rate from time to time as it deems necessary. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
FACE="Times New Roman" SIZE="2"><B>Compliance with Company Policies; Proprietary Information and Inventions Agreement </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">As a Company employee, you are
expected to abide by Company policies and procedures and acknowledge in writing that you have read and will comply with the Company&#146;s Employee Handbook. Furthermore, you must read, sign and comply with the enclosed Employee Proprietary
Information and Inventions Agreement (the &#147;Proprietary Information Agreement&#148;) as a condition of your employment. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>Third Party Information
</B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">In your work for the Company, you are expected not to use or disclose any confidential information, including trade secrets, of any former employer or
other third party to whom you have an obligation of confidentiality. Rather, you are expected to use only that information which is generally known and used by persons with training and experience comparable to your own, which is common knowledge in
the industry or otherwise legally in the public domain, or which is otherwise provided or developed by the Company. You agree that you will not bring onto Company premises or use in your work for the Company, any unpublished documents or property
belonging to any former employer or other third party that you are not authorized to use or disclose. By accepting employment with the Company, you represent that you will be able to perform your job duties within these guidelines and that you are
not subject to any contractual or other obligations that could restrict your activities on behalf of the Company. </FONT></P>

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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>Outside Activities </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT FACE="Times New Roman"
SIZE="2">Throughout your employment with the Company, you may engage in civic and not-for-profit activities so long as such activities do not interfere with the performance of your duties hereunder or present a conflict of interest with the Company.
You may not engage in other employment or undertake any other business activities unless you obtain the prior written consent of the Board. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">During your
employment by the Company, except on behalf of the Company, you will not directly or indirectly serve as an officer, director, stockholder, employee, partner, proprietor, investor, joint venturer, associate, representative or consultant of any other
person, corporation, firm, partnership or other entity whatsoever known by you to compete directly with the Company, anywhere in the world, in any line of business engaged in (or planned to be engaged in) by the Company; provided, however, that you
may purchase or otherwise acquire up to (but not more than) one percent (1%)&nbsp;of any class of securities of any enterprise (but without participating in the activities of such enterprise) if such securities are listed on any national or regional
securities exchange or have been registered under Section&nbsp;12(g) of the Securities Exchange Act of 1934, as amended. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>At-Will Employment
Relationship </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Your employment relationship is terminable at-will. This means that either you or the Company can terminate your employment at any time,
with or without Cause (defined below), and with or without advance notice. In the event that you resign from your employment, we request that you provide at least two (2)&nbsp;weeks advance written notice. This at-will employment relationship can
only be changed in a written agreement approved by the Board and signed by you and a duly authorized member of the Board. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>Severance Benefits
</B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">In the event that the Company terminates your employment without Cause (and other than as a result of your death or Disability (as defined below)) and
such termination constitutes a &#147;separation from service&#148; (as defined under Treasury Regulation Section&nbsp;1.409A-1(h)), and subject to your delivery to the Company of an executed release and waiver of claims in the form as the Company
may require (the &#147;Release&#148;), within the time period set forth therein, but in no event later than forty-five days following your termination, and permitting such Release to become effective in accordance with its terms, then you will
receive the following severance benefits, as your sole severance benefits (collectively, the &#147;Severance Benefits&#148;): </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(a) twelve
(12)&nbsp;months of your base salary in effect as of the termination date, less required deductions and withholdings, paid in the form of salary continuation on the Company&#146;s standard payroll dates following termination; provided, however, no
such payments will be made prior to the effective date of the Release, and on the first regular payroll date following the effective date of the Release, the Company will pay you in a lump sum the amount of the salary continuation you would have
otherwise received on and prior to such date but for the delay due to the Release, with the balance paid thereafter on the original schedule; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>

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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(b) provided that you timely elect continued group health insurance coverage through federal COBRA law,
the Company will pay your COBRA premiums sufficient to continue your group health insurance coverage at the same level in effect as of your termination date for twelve (12)&nbsp;months after your termination or until you become eligible for group
health insurance coverage through a new employer or otherwise cease to be eligible for COBRA coverage, whichever occurs first; and </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(c)
accelerated vesting of any unvested shares subject to any outstanding stock option grants such that all shares subject to your stock options will be fully vested and immediately exercisable effective as of the employment termination date.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">For the purposes of this Agreement, &#147;Cause&#148; for termination shall mean the Company&#146;s termination of your employment for any of the
following reasons: (a)&nbsp;you are convicted of any felony or of any crime involving moral turpitude (including a no contest or guilty plea); (b)&nbsp;you participate in any fraud or act of dishonesty against the Company; (c)&nbsp;you willfully
breach your duties to the Company, including insubordination, misconduct, excessive absenteeism, or persistent unsatisfactory performance of job duties; (d)&nbsp;you intentionally damage or willfully misappropriate any property of the Company;
(e)&nbsp;you materially breach any written agreement with the Company (including, but not limited to, your Proprietary Information Agreement); or (f)&nbsp;you engage in conduct that demonstrates unfitness to serve as reasonably determined by the
Board. Notwithstanding the foregoing, prior to a termination for Cause falling within (c)&nbsp;and (f)&nbsp;of the foregoing Cause definition, the Board must provide you with written notice of your unsatisfactory conduct and a period of thirty
(30)&nbsp;days to cure such conduct, except that such written notice and opportunity to cure are not required if the conduct is not capable of being cured. In the event that your employment is terminated for Cause or your employment terminates at
your request for any reason, Cerus shall have no obligation to pay any Severance Benefits. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">For purposes of this Agreement, &#147;Disability&#148; shall
mean your inability to perform your duties under this Agreement, even with reasonable accommodation, because you have become permanently disabled within the meaning of any policy of disability income insurance covering employees of the Company then
in force. In the event the Company has no policy of disability income insurance covering employees of the Company in force when you become disabled, the term &#147;Disability&#148; shall mean your inability to perform your duties under this
Agreement, whether with or without reasonable accommodation, by reason of any incapacity, physical or mental, which the Board, based upon medical advice or an opinion provided by a licensed physician acceptable to the Board, determines to have
incapacitated you from satisfactorily performing all of your usual services for the Company, with or without reasonable accommodation, for a period of at least nine (9)&nbsp;consecutive months during any twelve (12)&nbsp;month period. Based upon
such medical advice or opinion, the determination of the Board shall be final and binding and the date such determination is made shall be the date of such Disability for purposes of this Agreement. </FONT></P>

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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>Change of Control Benefits </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT FACE="Times New Roman"
SIZE="2">If, on or within twelve (12)&nbsp;months after a Change of Control (defined below), your employment is terminated without Cause (and other than as a result of your death or Disability (as defined above)) by the Company or terminated by you
due to your Good Reason Resignation (defined below) and provided such termination constitutes a &#147;separation from service&#148; (as defined above), and subject to your delivery to the Company of an executed Release, within the time period set
forth therein, but in no event later than forty-five days following your termination, and permitting such Release to become effective in accordance with its terms, then you will receive the following severance benefits, as your sole benefits
(collectively, the &#147;Change of Control Benefits&#148;): </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(a) eighteen (18)&nbsp;months of your base salary in effect as of the
termination date (ignoring any reduction in salary that is the basis for a Good Reason Resignation), less required deductions and withholdings, paid in the form of a lump sum on the first regular payroll date following the effective date of the
Release; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(b) provided that you timely elect continued group health insurance coverage through federal COBRA law, the Company will pay your
COBRA premiums sufficient to continue your group health insurance coverage at the same level in effect as of your termination date for eighteen (18)&nbsp;months after your termination or until you become eligible for group health insurance coverage
through a new employer or otherwise cease to be eligible for COBRA coverage, whichever occurs first; and </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(c) accelerated vesting of any
unvested shares subject to any outstanding stock option grants such that all shares subject to your stock options will be fully vested and immediately exercisable effective as of the employment termination date. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">For the purposes of this Agreement, a &#147;Change of Control&#148; shall mean: (a)&nbsp;a sale, lease or other disposition of all or substantially all of the assets of
the Company; (b)&nbsp;a merger or consolidation in which the Company is not the surviving corporation; or (c)&nbsp;a reverse merger in which the Company is the surviving corporation but the holders of the Company&#146;s outstanding voting stock
immediately prior to such transaction own, immediately after the closing of the transaction, securities representing less than fifty percent (50%)&nbsp;of the voting stock of the Company or other surviving entity. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">For the purposes of this Agreement, your &#147;Good Reason Resignation&#148; shall mean your resignation within twelve (12)&nbsp;months after a Change of Control because
the Change of Control resulted, without your consent, in: (a)&nbsp;a relocation of your assigned office more than thirty-five (35)&nbsp;miles from its location immediately prior to the Change of Control; (b)&nbsp;a material decrease in your base
salary (except for salary decreases generally applicable to the Company&#146;s other executive employees); or (c)&nbsp;a material reduction in the scope of your duties and responsibilities from your duties and responsibilities in effect immediately
prior to the Change of Control. Notwithstanding the foregoing, a &#147;Good Reason Resignation&#148; shall only occur if: (a)&nbsp;you notify the Company in writing, within sixty (60)&nbsp;days after the occurrence of one of the foregoing events,
specifying the </FONT>
</P>

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<FONT FACE="Times New Roman" SIZE="2">event(s) constituting &#147;good reason&#148; and that you intend to terminate your employment no earlier than thirty (30)&nbsp;days after providing such
notice; (b)&nbsp;the Company does not cure such condition within thirty (30)&nbsp;days following its receipt of such notice or states unequivocally in writing that it does not intend to attempt to cure such condition; and (c)&nbsp;you resign from
employment within thirty (30)&nbsp;days following the end of the period within which the Company was entitled to remedy the condition constituting &#147;good reason&#148; but failed to do so. </FONT></P> <P
STYLE="margin-top:18px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>Section&nbsp;409A </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">It is intended that each installment of the
severance payments and benefits provided under this Agreement (the &#147;Severance Benefits&#148;) is a separate &#147;payment&#148; for purposes Section&nbsp;1.409A-2(b)(2)(i) of the Treasury Regulations. For the avoidance of doubt, it is intended
that payments of the Severance Benefits satisfy, to the greatest extent possible, the exemptions from the application of Section&nbsp;409A of the Code and the Treasury Regulations and other guidance thereunder and any state law of similar effect
(collectively &#147;Section 409A&#148;) provided under Sections 1.409A-1(b)(4), 1.409A-1(b)(5) and 1.409A-1(b)(9) of the Treasury Regulations. However, if the Company determines that the Severance Benefits constitute &#147;deferred
compensation&#148; under Section&nbsp;409A and you are, on your separation from service, a &#147;specified employee&#148; of the Company (as such term is defined in Section&nbsp;409A(a)(2)(B)(i) of the Code) then, solely to the extent necessary to
avoid the incurrence of the adverse personal tax consequences under Section&nbsp;409A, the timing of the payment of the Severance Benefits shall be delayed so that on the earlier to occur of: (i)&nbsp;the date that is six months and one day after
your separation from service and (ii)&nbsp;the date of your death (such applicable date, the &#147;Specified Employee Initial Payment Date&#148;), the Company shall (A)&nbsp;pay to you a lump sum amount equal to the sum of the Severance Benefits
that you would otherwise have received through the Specified Employee Initial Payment Date if the commencement of the payment of the Severance Benefits had not been so delayed pursuant to this paragraph and (B)&nbsp;commence paying the balance of
the Severance Benefits in accordance with the applicable payment schedules set forth in this Agreement. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>Miscellaneous </B></FONT></P> <P
STYLE="margin-top:6px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">This Agreement, together with your Proprietary Information Agreement, forms the complete and exclusive statement of your employment agreement with Cerus. It supersedes
any other agreements or promises made to you by anyone, whether oral or written, including but not limited to the April&nbsp;27, 2004 offer letter and the July&nbsp;12, 2004 letter agreement. Changes in your employment terms, other than those
changes expressly reserved to the Company&#146;s or Board&#146;s discretion in this letter, require a written modification approved by the Board and signed by you and a duly authorized director of the Board. Each party has carefully read this
Agreement, has been afforded the opportunity to be advised of its meaning and consequences by your or its respective attorneys, and signs the same of your or its own free will. This Agreement can be signed in counterparts, and facsimile signatures
shall be deemed equivalent to original signatures. As required by law, your employment is subject to satisfactory proof of your right to work in the United States. </FONT></P>

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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Please sign below to indicate your acceptance of these terms and conditions of your employment relationship. We look
forward to your favorable reply and to a productive and exciting work relationship. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Sincerely, </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">/s/ BJ Cassin </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">BJ Cassin </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Chairman of the Board </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Cerus Corporation </FONT></P> <P
STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="46%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD WIDTH="50%"></TD></TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2"><B>Accepted:</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT FACE="Times New Roman" SIZE="2">/s/ Claes Glassell</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Date December 19, 2008</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Claes Glassell</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Enclosure: Employee Proprietary Information and Inventions Agreement </FONT></P>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>dex102.htm
<DESCRIPTION>AMENDED AND RESTATED EMPLOYMENT AGREEMENT, WILLIAM J. DAWSON
<TEXT>
<HTML><HEAD>
<TITLE>Amended and Restated Employment Agreement, William J. Dawson</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT FACE="Times New Roman" SIZE="2"><B>Exhibit 10.2 </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="2"><B>[CERUS LETTERHEAD] </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">December&nbsp;23, 2008 </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
FACE="Times New Roman" SIZE="2">William J. Dawson </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">[Home address omitted] </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
FACE="Times New Roman" SIZE="2">Dear Bill, </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">As we discussed, this amended and restated letter agreement (the &#147;Agreement&#148;) sets forth the terms and
conditions of your continued employment with Cerus Corporation (&#147;Cerus&#148; or the &#147;Company&#148;). This Agreement supersedes and replaces the letter agreement dated July&nbsp;22, 2004, which shall have no further force or effect.
</FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>Position, Duties and Reporting Relationship </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">You will
continue to serve in an executive capacity and shall perform the duties of Vice President, Finance and Chief Financial Officer (&#147;CFO&#148;). You work out of the Company&#146;s headquarters in Concord, California. In this position, you report to
Claes Glassell, President and Chief Executive Officer. As CFO, your responsibilities will include, but are not limited to, investor relations, financial community relations, financial analysis, planning and long range projections, other business
financings and overall financial responsibilities. The Company may modify your position, duties, reporting relationship and work location from time to time at its discretion. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
FACE="Times New Roman" SIZE="2"><B>Base Salary and Bonus Compensation </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Your annual base salary is currently $293,273, less standard payroll deductions
and withholdings and paid semi-monthly in accordance with the Company&#146;s normal payroll schedule. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">You are eligible to participate in the
Company&#146;s Cash Bonus Plan for Senior Management of Cerus Corporation (the &#147;Bonus Plan&#148;), in accordance with the terms, conditions and limitations of the plan. Annual bonuses are not guaranteed and such bonuses, if any, are awarded at
the sole discretion of the Company&#146;s Board of Directors (&#147;Board&#148;). As provided in the Bonus Plan, you must remain employed through the date the bonus is paid in order to earn and be eligible to receive a bonus; no pro rata or partial
bonuses will be provided. The Board shall have the sole discretion to change or eliminate the annual bonus program at any time, and to determine the amount of bonus earned, if any. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
FACE="Times New Roman" SIZE="2">The Company may modify your compensation from time to time as it deems necessary. </FONT></P>

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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>Equity Awards </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">In
addition to any equity awards you have previously received, you shall be eligible to receive additional equity awards under the Company&#146;s 2008 Equity Incentive Plan and various equity incentive and bonus programs that may be approved from time
to time by the Board in its sole discretion. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>Employee Benefits and Vacation Accrual Rate </B></FONT></P> <P
STYLE="margin-top:6px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Subject to the terms, conditions and limitations of the Company&#146;s benefit plans, you are eligible to participate in Cerus&#146; standard employee benefits plans
which include employer-subsidized medical, dental and vision care coverage, long term disability insurance, life insurance, a 401(k) plan, and Employee Stock Purchase Plan. The Employee Stock Purchase Plan gives employees an opportunity to obtain an
equity position in Cerus Corporation at a favorable price. You currently accrue paid vacation at an annual rate of four (4)&nbsp;weeks per completed year of active employment. Cerus may modify benefits and vacation accrual rate from time to time as
it deems necessary. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>Compliance with Company Policies; Proprietary Information and Inventions Agreement </B></FONT></P> <P
STYLE="margin-top:6px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">As a Company employee, you are expected to abide by Company policies and procedures and acknowledge in writing that you have read and will comply with the Company&#146;s
Employee Handbook. Furthermore, you must read, sign and comply with the enclosed Employee Proprietary Information and Inventions Agreement (the &#147;Proprietary Information Agreement&#148;) as a condition of your employment. </FONT></P> <P
STYLE="margin-top:18px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>Third Party Information </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">In your work for the Company, you are
expected not to use or disclose any confidential information, including trade secrets, of any former employer or other third party to whom you have an obligation of confidentiality. Rather, you are expected to use only that information which is
generally known and used by persons with training and experience comparable to your own, which is common knowledge in the industry or otherwise legally in the public domain, or which is otherwise provided or developed by the Company. You agree that
you will not bring onto Company premises or use in your work for the Company, any unpublished documents or property belonging to any former employer or other third party that you are not authorized to use or disclose. By accepting employment with
the Company, you represent that you will be able to perform your job duties within these guidelines and that you are not subject to any contractual or other obligations that could restrict your activities on behalf of the Company. </FONT></P>

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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>Outside Activities </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT FACE="Times New Roman"
SIZE="2">Throughout your employment with the Company, you may engage in civic and not-for-profit activities so long as such activities do not interfere with the performance of your duties hereunder or present a conflict of interest with the Company.
You may not engage in other employment or undertake any other business activities unless you obtain the prior written consent of the Board. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">During your
employment by the Company, except on behalf of the Company, you will not directly or indirectly serve as an officer, director, stockholder, employee, partner, proprietor, investor, joint venturer, associate, representative or consultant of any other
person, corporation, firm, partnership or other entity whatsoever known by you to compete directly with the Company, anywhere in the world, in any line of business engaged in (or planned to be engaged in) by the Company; provided, however, that you
may purchase or otherwise acquire up to (but not more than) one percent (1%)&nbsp;of any class of securities of any enterprise (but without participating in the activities of such enterprise) if such securities are listed on any national or regional
securities exchange or have been registered under Section&nbsp;12(g) of the Securities Exchange Act of 1934, as amended. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>At-Will Employment
Relationship </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Your employment relationship is terminable at-will. This means that either you or the Company can terminate your employment at any time,
with or without Cause (defined below), and with or without advance notice. In the event that you resign from your employment, we request that you provide at least two (2)&nbsp;weeks advance written notice. This at-will employment relationship can
only be changed in a written agreement approved by the Board and signed by you and a duly authorized member of the Board. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>Severance Benefits
</B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">In the event that the Company terminates your employment without Cause, (and other than as a result of your death or Disability (as defined below)) and
such termination constitutes a &#147;separation from service&#148; (as defined under Treasury Regulation Section&nbsp;1.409A-1(h)), and subject to your delivery to the Company of an executed release and waiver of claims in the form as the Company
may require (the &#147;Release&#148;), within the time period set forth therein, but in no event later than forty-five days following your termination, and permitting such Release to become effective in accordance with its terms, then you will
receive the following severance benefits, as your sole severance benefits (collectively, the &#147;Severance Benefits&#148;): </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(a) twelve
(12)&nbsp;months of your base salary in effect as of the termination date, less required deductions and withholdings, paid in the form of salary continuation on the Company&#146;s standard payroll dates following termination; provided, however, no
such payments will be made prior to the effective date of the Release, and on the first regular payroll date following the effective date of the Release, the Company will pay you in a lump sum the amount of the salary continuation you would have
otherwise received on and prior to such date but for the delay due to the Release, with the balance paid thereafter on the original schedule; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>

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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(b) provided that you timely elect continued group health insurance coverage through federal COBRA law,
the Company will pay your COBRA premiums sufficient to continue your group health insurance coverage at the same level in effect as of your termination date for twelve (12)&nbsp;months after your termination or until you become eligible for group
health insurance coverage through a new employer or otherwise cease to be eligible for COBRA coverage, whichever occurs first; and </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(c)
accelerated vesting of any unvested shares subject to any outstanding stock option grants such that all shares subject to your stock options will be fully vested and immediately exercisable effective as of the employment termination date.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">For the purposes of this Agreement, &#147;Cause&#148; for termination shall mean the Company&#146;s termination of your employment for any of the
following reasons: (a)&nbsp;you are convicted of any felony or of any crime involving moral turpitude (including a no contest or guilty plea); (b)&nbsp;you participate in any fraud or act of dishonesty against the Company; (c)&nbsp;you willfully
breach your duties to the Company, including insubordination, misconduct, excessive absenteeism, or persistent unsatisfactory performance of job duties; (d)&nbsp;you intentionally damage or willfully misappropriate any property of the Company;
(e)&nbsp;you materially breach any written agreement with the Company (including, but not limited to, your Proprietary Information Agreement); or (f)&nbsp;you engage in conduct that demonstrates unfitness to serve as determined by the Company.
Notwithstanding the foregoing, prior to a termination for Cause falling within (c)&nbsp;and (f)&nbsp;of the foregoing Cause definition, the Company must provide you with written notice of your unsatisfactory conduct and a period of thirty
(30)&nbsp;days to cure such conduct, except that such written notice and opportunity to cure are not required if the conduct is not capable of being cured. In the event that your employment is terminated for Cause or your employment terminates at
your request for any reason, Cerus shall have no obligation to pay any Severance Benefits. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">For purposes of this Agreement, &#147;Disability&#148; shall
mean your inability to perform your duties under this Agreement, even with reasonable accommodation, because you have become permanently disabled within the meaning of any policy of disability income insurance covering employees of the Company then
in force. In the event the Company has no policy of disability income insurance covering employees of the Company in force when you become disabled, the term &#147;Disability&#148; shall mean your inability to perform your duties under this
Agreement, whether with or without reasonable accommodation, by reason of any incapacity, physical or mental, which the Board, based upon medical advice or an opinion provided by a licensed physician acceptable to the Board, determines to have
incapacitated you from satisfactorily performing all of your usual services for the Company, with or without reasonable accommodation, for a period of at least nine (9)&nbsp;consecutive months during any twelve (12)&nbsp;month period. Based upon
such medical advice or opinion, the determination of the Board shall be final and binding and the date such determination is made shall be the date of such Disability for purposes of this Agreement. </FONT></P>

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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>Change of Control Benefits </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT FACE="Times New Roman"
SIZE="2">If, on or within twelve (12)&nbsp;months after a Change of Control (defined below), your employment is terminated without Cause (and other than as a result of your death or Disability (as defined above)) by the Company or terminated by you
due to your Good Reason Resignation (defined below) and provided such termination constitutes a &#147;separation from service&#148; (as defined above), and subject to your delivery to the Company of an executed Release, within the time period set
forth therein, but in no event later than forty-five days following your termination, and permitting such Release to become effective in accordance with its terms, then you will receive the following severance benefits, as your sole benefits
(collectively, the &#147;Change of Control Benefits&#148;): </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(a) eighteen (18)&nbsp;months of your base salary in effect as of the
termination date (ignoring any reduction in salary that is the basis for a Good Reason Resignation), less required deductions and withholdings, paid in the form of a lump sum on the first regular payroll date following the effective date of the
Release; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(b) provided that you timely elect continued group health insurance coverage through federal COBRA law, the Company will pay your
COBRA premiums sufficient to continue your group health insurance coverage at the same level in effect as of your termination date for eighteen (18)&nbsp;months after your termination or until you become eligible for group health insurance coverage
through a new employer or otherwise cease to be eligible for COBRA coverage,, whichever occurs first; and </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(c) accelerated vesting of any
unvested shares subject to any outstanding stock option grants such that all shares subject to your stock options will be fully vested and immediately exercisable effective as of the employment termination date. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">For the purposes of this Agreement, a &#147;Change of Control&#148; shall mean: (a)&nbsp;a sale, lease or other disposition of all or substantially all of the assets of
the Company; (b)&nbsp;a merger or consolidation in which the Company is not the surviving corporation; or (c)&nbsp;a reverse merger in which the Company is the surviving corporation but the holders of the Company&#146;s outstanding voting stock
immediately prior to such transaction own, immediately after the closing of the transaction, securities representing less than fifty percent (50%)&nbsp;of the voting stock of the Company or other surviving entity. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">For the purposes of this Agreement, your &#147;Good Reason Resignation&#148; shall mean your resignation within twelve (12)&nbsp;months after a Change of Control because
the Change of Control resulted, without your consent, in: (a)&nbsp;a relocation of your assigned office more than thirty-five (35)&nbsp;miles from its location immediately prior to the Change of Control; or (b)&nbsp;a material decrease in your base
salary (except for salary decreases generally applicable to the Company&#146;s other executive employees). Notwithstanding the foregoing, a &#147;Good Reason Resignation&#148; shall only occur if: (a)&nbsp;you notify the Company in writing, within
sixty (60)&nbsp;days after the occurrence of one of the foregoing events, specifying the event(s) constituting &#147;good reason&#148; and that you intend to terminate your employment no earlier than thirty (30)&nbsp;days after providing such
notice; (b)&nbsp;the Company does not cure </FONT>
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<FONT FACE="Times New Roman" SIZE="2">such condition within thirty (30)&nbsp;days following its receipt of such notice or states unequivocally in writing that it does not intend to attempt to
cure such condition; and (c)&nbsp;you resign from employment within thirty (30)&nbsp;days following the end of the period within which the Company was entitled to remedy the condition constituting &#147;good reason&#148; but failed to do so.
</FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>Section&nbsp;409A </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">It is intended that each
installment of the severance payments and benefits provided under this Agreement (the &#147;Severance Benefits&#148;) is a separate &#147;payment&#148; for purposes Section&nbsp;1.409A-2(b)(2)(i) of the Treasury Regulations. For the avoidance of
doubt, it is intended that payments of the Severance Benefits satisfy, to the greatest extent possible, the exemptions from the application of Section&nbsp;409A of the Code and the Treasury Regulations and other guidance thereunder and any state law
of similar effect (collectively &#147;Section 409A&#148;) provided under Sections 1.409A-1(b)(4), 1.409A-1(b)(5) and 1.409A-1(b)(9) of the Treasury Regulations. However, if the Company determines that the Severance Benefits constitute &#147;deferred
compensation&#148; under Section&nbsp;409A and you are, on your separation from service, a &#147;specified employee&#148; of the Company (as such term is defined in Section&nbsp;409A(a)(2)(B)(i) of the Code) then, solely to the extent necessary to
avoid the incurrence of the adverse personal tax consequences under Section&nbsp;409A, the timing of the payment of the Severance Benefits shall be delayed so that on the earlier to occur of: (i)&nbsp;the date that is six months and one day after
your separation from service and (ii)&nbsp;the date of your death (such applicable date, the &#147;Specified Employee Initial Payment Date&#148;), the Company shall (A)&nbsp;pay to you a lump sum amount equal to the sum of the Severance Benefits
that you would otherwise have received through the Specified Employee Initial Payment Date if the commencement of the payment of the Severance Benefits had not been so delayed pursuant to this paragraph and (B)&nbsp;commence paying the balance of
the Severance Benefits in accordance with the applicable payment schedules set forth in this Agreement. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>Miscellaneous </B></FONT></P> <P
STYLE="margin-top:6px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">This Agreement, together with your Proprietary Information Agreement, forms the complete and exclusive statement of your employment agreement with Cerus. It supersedes
any other agreements or promises made to you by anyone, whether oral or written, including but not limited to the July&nbsp;22, 2004 letter agreement. Changes in your employment terms, other than those changes expressly reserved to the
Company&#146;s or Board&#146;s discretion in this letter, require a written modification signed by a duly authorized officer of the Company. Each party has carefully read this Agreement, has been afforded the opportunity to be advised of its meaning
and consequences by your or its respective attorneys, and signs the same of your or its own free will. This Agreement can be signed in counterparts, and facsimile signatures shall be deemed equivalent to original signatures. As required by law, your
employment is subject to satisfactory proof of your right to work in the United States. </FONT></P>

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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Please sign below to indicate your acceptance of these terms and conditions of your employment relationship. We look
forward to your favorable reply and to a productive and exciting work relationship. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Sincerely, </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">/s/ Claes Glassell </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Claes Glassell </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">President and Chief Executive Officer </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Cerus Corporation </FONT></P> <P
STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD VALIGN="bottom" WIDTH="9%"></TD>
<TD WIDTH="45%"></TD></TR>
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<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2"><B>Accepted:</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT FACE="Times New Roman" SIZE="2">/s/ William J. Dawson</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Date December 23, 2008</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">William J. Dawson</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Enclosure: Employee Proprietary Information and Inventions Agreement </FONT></P>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>dex103.htm
<DESCRIPTION>AMENDED AND RESTATED EMPLOYMENT AGREEMENT, HOWARD G. ERVIN
<TEXT>
<HTML><HEAD>
<TITLE>Amended and Restated Employment Agreement, Howard G. Ervin</TITLE>
</HEAD>
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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT FACE="Times New Roman" SIZE="2"><B>Exhibit 10.3 </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="2">[CERUS LETTERHEAD] </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">December&nbsp;22, 2008 </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
FACE="Times New Roman" SIZE="2">Howard Ervin </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">[Home address omitted] </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman"
SIZE="2">Dear Howard: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">As we discussed, this amended and restated letter agreement (the &#147;Agreement&#148;) sets forth the terms and conditions of your
continued employment with Cerus Corporation (&#147;Cerus&#148; or the &#147;Company&#148;) as Vice President, Legal Affairs. This Agreement supersedes and replaces the letter agreement dated May&nbsp;28, 1999, which shall have no further force or
effect. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">As Vice President, Legal Affairs, you report directly to Claes Glassell, President and Chief Executive Officer of Cerus and you have
responsibilities including, but not limited to, those listed on the attached Schedule 1. You work at our facility located in Concord. Of course, Cerus may change your responsibilities and duties and your work location from time to time as it deems
necessary, provided that the responsibilities and duties are consistent with the position of Vice President, Legal Affairs and the work location is within the counties of Alameda, Contra Costa or San Francisco. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Your annual base salary is currently $311,531, less standard payroll deductions and withholdings and paid semi-monthly in accordance with the Company&#146;s normal
payroll schedule. In addition, you are eligible for the standard Cerus employee benefit plan which includes employer subsidized medical, dental and vision premiums, long term disability, life insurance, a 401(k) plan, and Employee Stock Purchase
Plan. The Employee Stock Purchase Plan gives employees an opportunity to obtain an equity position in Cerus Corporation at a favorable price. You should also note that Cerus may modify salaries and benefits from time to time as it deems necessary.
You are eligible for 20 days of vacation per year. Finally, you are eligible to participate in Bonus Plan for Senior Management of Cerus (the &#147;Bonus Plan&#148;). Annual bonuses are not guaranteed and such bonuses, if any, are awarded at the
sole discretion of the Board based on its assessment of your performance and the Company&#146;s performance with respect to corporate and personal objectives. As provided in the Bonus Plan, you must remain employed through the date the bonus is paid
in order to earn and be eligible to receive a bonus; no pro rata or partial bonuses will be provided. The Board shall have the sole discretion to change or eliminate the annual bonus program at any time, and to determine the amount of bonus earned,
if any. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">As a Cerus employee you are expected to abide by company rules and regulations. You are specifically required to sign an acknowledgment that you
have read and understand the company rules of conduct included in the Cerus Employee Handbook. You are </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>

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<FONT FACE="Times New Roman" SIZE="2">expected to sign and comply with a proprietary information and nondisclosure agreement that requires, among other provisions, the assignment of patent rights
to any invention made during your employment at Cerus and nondisclosure of proprietary information. Such agreements will not preclude you from providing occasional legal or business advice to third parties, so long as the interests of such third
parties in no way conflict with the interests of Cerus and such activity does not interfere with the performance of you responsibilities and duties to Cerus. Normal working hours are from 8 a.m. to 5 p.m., Monday through Friday. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">In addition to any equity awards you have previously received, you shall be eligible to receive additional equity awards under the Company&#146;s 2008 Equity Incentive
Plan and various equity incentive and bonus programs that may be approved from time to time by the Board in its sole discretion. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">As an employee you may
terminate employment at any time and for any reason whatsoever with notice to Cerus. We request that, in the event of resignation, you give the company at least two weeks notice. Similarly, Cerus may terminate your employment at any time and for any
reason whatsoever, with or without cause (involuntary termination). In the event your employment is terminated by the Company without &#147;Cause&#148; (as defined on Schedule 2) or by you as a &#147;Good Reason Resignation&#148; (and in either case
other than as a result of your death or disability), and provided your termination constitutes a &#147;separation from service&#148; (as defined under Treasury Regulation Section&nbsp;1.409A-1(h)) (any such qualifying termination, a &#147;Covered
Termination&#148;), and subject to your execution of a fully effective release of claims, Cerus agrees to provide you with a cash severance payment in an aggregate amount equal to nine months of your base salary. See Schedule 2 for the additional
terms and conditions of this severance package. A &#147;Good Reason Resignation&#148; means your resignation from all positions you then-hold with the Company following any of the following changes that is not consented to by you in writing:
(a)&nbsp;material reduction in your base salary, (b)&nbsp;a material adverse change in your job responsibilities in a manner inconsistent with the position of Vice President, Legal Affairs, (c)&nbsp;a material adverse change in your job location
including relocation to a location to outside of the counties stated above or (d)&nbsp;a material adverse change in your line of reporting, including requiring you to report to an officer other than the Chief Executive Officer or Chief Operating
Officer of the Company. Notwithstanding the foregoing, a &#147;Good Reason Resignation&#148; shall only occur if: (a)&nbsp;you notify the Company in writing, within sixty (60)&nbsp;days after the occurrence of one of the foregoing events, specifying
the event(s) constituting &#147;good reason&#148; and that you intend to terminate your employment no earlier than thirty (30)&nbsp;days after providing such notice; (b)&nbsp;the Company does not cure such condition within thirty (30)&nbsp;days
following its receipt of such notice or states unequivocally in writing that it does not intend to attempt to cure such condition; and (c)&nbsp;you resign from employment within thirty (30)&nbsp;days following the end of the period within which the
Company was entitled to remedy the condition constituting &#147;good reason&#148; but failed to do so. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">If a Covered Termination occurs immediately prior
to, on or within 12 months following a &#147;change of control&#148; (as defined below), and subject to your execution of a fully effective release of claims, then in addition to the severance provided above, any stock </FONT>
</P>

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<FONT FACE="Times New Roman" SIZE="2">options held by you shall, as of the date of the Covered Termination will immediately vest and become exercisable. As used in this agreement, &#147;change of
control&#148; means (x)&nbsp;the sale by Cerus of all or substantially all of its assets, or (y)&nbsp;any merger, consolidation or other transaction (or series of related transactions) where the stockholders of Cerus immediately prior to such
transaction(s) do not have the collective ability, immediately following such transaction(s), to elect a majority of the directors of Cerus or the surviving corporation, as the case may be. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">It is intended that each installment of the severance payments and benefits provided under this Agreement (the &#147;Severance Benefits&#148;) is a separate
&#147;payment&#148; for purposes Section&nbsp;1.409A-2(b)(2)(i) of the Treasury Regulations. For the avoidance of doubt, it is intended that payments of the Severance Benefits satisfy, to the greatest extent possible, the exemptions from the
application of Section&nbsp;409A of the Code and the Treasury Regulations and other guidance thereunder and any state law of similar effect (collectively &#147;Section 409A&#148;) provided under Sections 1.409A-1(b)(4), 1.409A-1(b)(5) and
1.409A-1(b)(9) of the Treasury Regulations. However, if the Company determines that the Severance Benefits constitute &#147;deferred compensation&#148; under Section&nbsp;409A and you are, on your separation from service, a &#147;specified
employee&#148; of the Company (as such term is defined in Section&nbsp;409A(a)(2)(B)(i) of the Code) then, solely to the extent necessary to avoid the incurrence of the adverse personal tax consequences under Section&nbsp;409A, the timing of the
payment of the Severance Benefits shall be delayed so that on the earlier to occur of: (i)&nbsp;the date that is six months and one day after your separation from service and (ii)&nbsp;the date of your death (such applicable date, the
&#147;Specified Employee Initial Payment Date&#148;), the Company shall (A)&nbsp;pay to you a lump sum amount equal to the sum of the Severance Benefits that you would otherwise have received through the Specified Employee Initial Payment Date if
the commencement of the payment of the Severance Benefits had not been so delayed pursuant to this paragraph and (B)&nbsp;commence paying the balance of the Severance Benefits in accordance with the applicable payment schedules set forth in this
Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">This Agreement, including the Schedules attached hereto, form the entire agreement between the Company and you on these subjects and supersede
all our prior written and oral communication with you, including but not limited to the May&nbsp;28, 1999 letter agreement and can only be modified by written agreement signed by you and Cerus. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Please sign and date this letter, and return it to me by December&nbsp;22, 2008. We look forward to your favorable reply and to a productive and exciting work
relationship. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Sincerely, </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">/s/ Claes Glassell </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Claes Glassell </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">President and Chief Executive Officer </FONT></P> <P
STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Approved&nbsp;and&nbsp;Accepted</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT FACE="Times New Roman" SIZE="2">/s/ Howard Ervin</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Date December&nbsp;22, 2008</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Howard Ervin</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE>

<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>Schedule 1 </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="2"><B>Responsibilities of Vice President, Legal Affairs </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Contract Management </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Business Negotiations </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Strategic Planning and Guidance </FONT></P> <P
STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TR>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">organization, partnerships, growth, positioning, new opportunities </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
FACE="Times New Roman" SIZE="2">Leadership and Mentoring </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">play an active leadership role in organization </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman"
SIZE="2">Trademark and Tradename Development </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TR>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">registration, maintenance and prosecution </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Public
Relations Team Member </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TR>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">develop and implement plan to communicate to customers, regulators, patients, payors, hospital administrators </FONT></P></TD></TR></TABLE> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Investor Relations </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">monitor for legal compliance </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Corporate
Communications Team Member </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TR>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">press releases, annual report, fact sheets </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman"
SIZE="2">Intellectual Property </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TR>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">provide oversight to patent and other intellectual property activity </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
FACE="Times New Roman" SIZE="2">Management of External Legal Support </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">usage, billing and payment, disputes </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Market
Intelligence </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TR>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">monitor activities of competitors and industry trends </FONT></P></TD></TR></TABLE>

<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>Schedule 2 </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="2"><B>Cerus Corporation </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>Severance Pay Agreement </B></FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">Effective on December&nbsp;22, 2008, I, Howard Ervin, hereby agree to the following terms and conditions with respect to the payment of severance to me
by Cerus Corporation (&#147;Cerus&#148; or the &#147;Company&#148;) upon a Covered Termination (all capitalized terms not defined herein have the meaning set forth in the letter to me dated December&nbsp;22, 2008): </FONT></P> <P
STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">1.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">In the event I suffer a Covered Termination, and subject to my delivery to the Company of an executed release and waiver of claims in the form as the Company may require (the
&#147;Release&#148;), within the time period set forth therein, but in no event later than forty-five days following my termination, and permitting such Release to become effective in accordance with its terms, then I will receive the following
severance benefits, as my sole severance benefits (collectively, the &#147;Severance Benefits&#148;): </FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">a.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">nine (9)&nbsp;months of my base salary in effect as of the termination date (ignoring, however, any reduction in my base salary that forms the basis for my Resignation for Good
Reason, as applicable), less required deductions and withholdings, paid in the form of salary continuation on the Company&#146;s standard payroll dates following termination; provided, however, no such payments will be made prior to the effective
date of the Release, and on the first regular payroll date following the effective date of the Release, the Company will pay me in a lump sum the amount of the salary continuation I would have otherwise received on and prior to such date but for the
delay due to the Release, with the balance paid thereafter on the original schedule. </FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">2.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">In the event that I suffer a Covered Termination immediately prior to, on or within 12 months following a &#147;change of control&#148; (as defined above), and subject to my
delivery to the Company of an executed Release within the time period set forth therein, but in no event later than forty-five days following my termination, and permitting such Release to become effective in accordance with its terms, then I will
receive the Severance Benefits paid in the form of a lump sum on the first regular payroll date following the effective date of the Release. </FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">3.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">I understand that Cerus may terminate my employment for &#147;Cause&#148; if, in the reasonable determination of the Company&#146;s Board of Directors, I am convicted of any felony
or of any crime involving moral turpitude, or participate in any fraud against the Company, or willfully breach my duties to the Company, or wrongfully disclose any trade secrets or other confidential information of the Company, or maternally breach
the proprietary information and nondisclosure agreement between me and the Company. In the event that my employment is terminated For Cause, Cerus shall have no obligation to pay any severance to me. </FONT></TD></TR></TABLE>

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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">4.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">I understand that for purposes of this Agreement, &#147;Disability&#148; shall mean my inability to perform my duties under this Agreement, even with reasonable accommodation,
because I have become permanently disabled within the meaning of any policy of disability income insurance covering employees of the Company then in force. In the event the Company has no policy of disability income insurance covering employees of
the Company in force when I become disabled, the term &#147;Disability&#148; shall mean my inability to perform my duties under this Agreement, whether with or without reasonable accommodation, by reason of any incapacity, physical or mental, which
the Board, based upon medical advice or an opinion provided by a licensed physician acceptable to the Board, determines to have incapacitated me from satisfactorily performing all of my usual services for the Company, with or without reasonable
accommodation, for a period of at least nine (9)&nbsp;consecutive months during any twelve (12)&nbsp;month period. Based upon such medical advice or opinion, the determination of the Board shall be final and binding and the date such determination
is made shall be the date of such Disability for purposes of this Agreement. </FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">5.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">I understand that other than as set forth in this Severance Pay Agreement, Cerus shall have no obligation to compensate me for anything other than my accrued salary and my accrued
and unused vacation time earned through my termination date upon the termination of my employment with the Company. </FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">6.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">I understand that nothing in this Severance Pay Agreement assures me of a continuing position with the Company, or in any way changes the Company&#146;s right to terminate my
employment at any time and for any reason, with or without advance notice or cause. </FONT></TD></TR></TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT FACE="Times New Roman" SIZE="2">/s/ Howard G. Ervin</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT FACE="Times New Roman" SIZE="2">December&nbsp;22, 2008</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Howard G. Ervin</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="text-indent:2.00em"><FONT FACE="Times New Roman" SIZE="2">Date</FONT></P></TD></TR>
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