Alder BioPharmaceuticals, Inc. and Elisabeth A. Sandoval, the Company’s Chief Commercial Officer and Executive Vice President of Corporate Strategy, entered into a Transition Agreement on November 2, 2018 pursuant to which Ms. Sandoval’s employment with the Company will cease on March 31, 2019. The Company has retained an executive search firm and initiated a process to identify its next Chief Commercial Officer. Under the Agreement, Ms. Sandoval will continue to be an employee of the Company until the Separation Date, unless Ms. Sandoval is terminated by the Company for cause prior to the Separation Date. Ms. Sandoval will continue to be employed in her role as Chief Commercial Officer and Executive Vice President of Corporate Strategy; provided, however, that if a new Chief Commercial Officer commences employment with the Company prior to the Separation Date, then Ms. Sandoval's role will be changed to Executive Vice President until the Separation Date.