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IDM PHARMA, INC.
2009 TRANSACTION BONUS PLAN, AS AMENDED
The Board of
Directors (the “Board” ) of IDM Pharma,
Inc., a Delaware corporation (the
“Company” ), adopted resolutions at a
meeting held on December 18, 2008, approving payment of a cash
bonus to certain non-executive employees and executive officers as
summarized below (as amended, the “Plan”
). The Plan was amended by the Board at a meeting held on
May 17, 2009 and the following is a summary of the Plan, as
amended.
1. Purpose of the
Plan. The Company
considers it essential to the operation of the Company that certain
of its employees be encouraged to remain employed by the Company
while the Company attempts to effect a sale of the Company or
substantially all of its assets. The Plan is meant to supplement
and work in conjunction with (and, except as provided herein, not
to replace) the Company’s other incentive programs, such as
its option plans, severance arrangements and other benefits plans,
in order to achieve the foregoing purposes.
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A.
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Upon the closing of a Change of
Control of the Company (as defined below) on or prior to
August 31, 2009, a lump sum cash bonus payment less standard
deductions and withholding, will be payable to such specified
employee, including certain executive officers, as noted in the
column in the table below labeled “Transaction Bonus,”
who are employees of the Company immediately prior to the closing
of such Change of Control. This cash payment would be in
additio
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