13. Subsequent Events

On October 25, 2022, the Compensation Committee of the Board of Directors of the Company approved an amendment (the “Amendment”) to the Retention Plan, previously filed with the Securities and Exchange Commission as Exhibit 10.1 to XOMA’s Quarterly Report on Form 10-Q for the three months ended March 31, 2022. The Amendment provides that each of the Company’s current employees, excluding its Chief Executive Officer, will be eligible to receive a cash retention bonus if employed through each of two periods: (1) the three-month anniversary of November 1, 2022 (the “Initial Period”) and (2) the nine-month period immediately following the Initial Period. All other terms of the Plan remain the same.

On November 1, 2022, the Company entered into a letter agreement with Thomas Burns that amends his amended and restated employment agreement (the “Employment Agreement”). Pursuant to the Employment Agreement as amended by this letter agreement, in the event Mr. Burns remains employed by the Company for a twelve-month period beginning on November 1, 2022, he will be deemed “retirement eligible” for purposes of his equity awards under the terms of his equity award agreements. All other terms of the Employment Agreement remain the same.